A Citi Bike docking station outside the Nordstrom flagship store in New York on Feb. 21, 2024. Bing Guan | Bloomberg | Getty Images Nordstrom on Thursday fell short of Wall Street’s quarterly earnings expectations as its off-price chain Rack outperformed the rest of its stores. Despite the earnings miss, the Seattle-based department store operator posted sales growth and stuck by its full-year forecast. Here is what the retailer reported for its fiscal first quarter compared to what Wall Street was expecting, based on a survey of analysts by LSEG: Loss per share: 24 cents vs. 8 cents expected Revenue: $3.34…

MongoDB CEO Dev Ittycheria. Scott Mlyn | CNBC MongoDB stock sank as much as 26% in extended trading on Thursday after the database software maker issued light guidance for the quarter and reduced its forecast for the full fiscal year. Here is how the company did, compared to the LSEG consensus: Earnings per share: 51 cents adjusted vs. 40 cents expected Revenue: $450.6 million vs. $439.7 million expected MongoDB’s revenue grew 22% year over year in the fiscal first quarter, which ended on April 30, according to a statement. Growth slowed for the third consecutive quarter. It was 57% two…

Ulta Beauty on Thursday laid out plans to boost sales and gain market share after a first-quarter sales slowdown. Comparable sales, a metric that tracks Ulta stores open at least 14 months along with online sales, increased 1.6% year over year, a stark slowdown from the same period a year earlier when Ulta reported comparable sales growth of 9.3% “We expect growth to accelerate in the second half of the year, to be between 2% and 4% reflecting the impact of our sales-driving initiatives,” finance chief Paula Oyibo said during the company’s earnings call. Ulta CEO Dave Kimbell in April…

A Gap store in New York, US, on Monday, May 27, 2024. Gap Inc. is scheduled to release earnings figures on May 30.  Bloomberg | Bloomberg | Getty Images Gap posted positive comparable sales at all four of its brands on Thursday, leading the apparel giant to raise its full-year guidance as CEO Richard Dickson’s turnaround strategy starts to take effect.  The retailer behind Gap, Banana Republic, Athleta and Old Navy blew past earnings estimates and beat on revenue, too.  Here’s how Gap did compared with what Wall Street was anticipating, based on a survey of analysts by LSEG: Earnings…

Michael Dell, Chairman and CEO of Dell Technologies, speaking at the Mobile World Congress 2024 in Barcelona, Spain, on Feb. 27, 2024. Joan Cros | Nurphoto | Getty Images Dell reported first-quarter earnings on Thursday that beat analysts’ estimates for earnings and sales, as the company has emerged as one of the top vendors for artificial intelligence servers. But, shares fell more than 15% in after-hours trading on concerns Dell’s AI servers aren’t making the company a lot of money yet. Here is how Dell did compared to LSEG consensus estimates: Earnings per share: $1.27 adjusted vs. $1.26 estimated Revenue:…

Costco Wholesale ‘s third-quarter earnings topped Wall Street expectations on Thursday, driven by higher sales and lower-than-expected operating expenses. Even with a recent C-Suite transition, Costco delivered a business-as-usual quarter, as members flocked to its warehouses in search of quality merchandise at value prices. Total revenue in its fiscal 2024 third quarter increased 9.1% year over year to $58.52 billion, beating analysts’ expectations of $58.07 billion, according to estimates compiled by LSEG. Earnings per share in the three months ended May 12 totaled $3.78, beating analysts’ forecasts of $3.70, LSEG data showed. On an annual basis, Costco’s EPS grew 29%.…

Shoppers walk in front of a Kohl’s store in Mount Kisco, New York. Scott Mlyn | CNBC Kohl’s shares plummeted more than 20% Thursday after the company posted a surprise loss per share, coming in well below Wall Street’s expectations for a slight profit. That share slide puts the stock on pace for its biggest single-day percentage decline ever. In an interview with CNBC, CEO Tom Kingsbury chalked up slower sales to tough comparisons. He said the department store had higher-than-usual clearance levels in the year-ago period, as it tried to clean up inventory and jumpstart its turnaround plan. He…

Salesforce shares sank more than 16% Wednesday after reporting mixed earnings and revised guidance lower. The cloud software company is a high-quality stock in a rough neighborhood — at least for the near term. Revenue increased 11% year over year to $9.13 billion in the three months ended April 30, missing the $9.18 billion expected by analysts, according to estimates compiled by LSEG. Adjusted earnings per share of $2.44 rose 44% on an annual basis and topped the $2.38 predicted by analysts, LSEG data showed. Adjusted operating margin expanded to 32.1% in the quarter, but missed the consensus estimate of…

Abercrombie & Fitch reported its strongest first quarter in its history on Wednesday, continuing a winning streak that again exceeded expectations. The retailer’s sales jumped 22% compared with last year, while profits were nearly seven times higher and came in well ahead of Wall Street’s estimates. Abercrombie’s shares spiked nearly 20% on Wednesday. Here’s how the apparel company did in its fiscal first quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG: Earnings per share: $2.14 vs. $1.74 expected Revenue: $1.02 billion vs. $963.3 million expected The company’s reported net income for the…

Low-cost carrier Ryanair on Monday reported its best-ever annual profit, as passenger and revenue growth offset sharply higher operating costs, but flagged a weaker pricing environment in the current quarter. The Dublin-based company said profit after tax in the full year to March 2024 jumped 34% to 1.92 billion euros ($2.09 billion), while revenue rose 25% year on year to 13.44 billion euros. The airline served 184 million passengers, 23% more than before the Covid pandemic. Higher traffic numbers and an increase in fares helped Ryanair overcome a spike in costs: operating costs were up 24% year on year, and…

Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Tuesday’s key moments. The Nasdaq on Tuesday shot up past 17,000 for the first time ever — driven by further gains in shares of Club name Nvidia . In response, Jim Cramer said, “Nvidia is capturing so much of the mindshare that maybe people are selling [the broader market] to make a bigger position in Nvidia.” Shares of the AI chip giant rose 5% — extending last week’s rally, which was spurred by another fantastic quarter , guidance…

This photo illustration shows an image of former President Donald Trump reflected in a phone screen that is displaying the Truth Social app, in Washington, DC, on February 21, 2022. Stefani Reynolds | AFP | Getty Images Trump Media & Technology Group, the parent company of Donald Trump’s Truth Social platform, disclosed a net loss of $327.6 million in the first quarter of the year, with total revenue at $770,500, according to its earnings report, filed Monday with the Securities and Exchange Commission. The report is one of the first measures of the company’s true financial health since it debuted as a…

An exterior view of a Lowe’s home improvement store at the Buckhorn Plaza shopping center.  Paul Weaver | Lightrocket | Getty Images Lowe’s topped Wall Street’s quarterly earnings and revenue expectations on Tuesday, even as do-it-yourself customers bought fewer pricey items. The home improvement retailer’s results echoed those of Home Depot last week. Home Depot missed revenue expectations, which it attributed to a tougher housing market and a delayed start to spring. Lowe’s stuck by its full-year forecast. It said it expects total sales of between $84 billion and $85 billion, which would be a drop from $86.38 billion in…

Aytac Unal/ | Anadolu | Getty Images Shares of Trump Media fell more than 10% Tuesday before recovering slightly to close at $44.19 a share, a one day drop of 8.6%. The shares slid hours after the Truth Social app owner disclosed a net loss of $327.6 million in the first quarter of 2024, on revenues of just $770,500 . Trump Media, whose majority shareholder is former President Donald Trump, revealed the loss Monday after markets closed, as part of its first earnings report since company began public trading under the DJT ticker in March through a merger with a…

Nvidia shares topped $1,000 for the first time in extended trading on Wednesday after the chipmaker reported fiscal first-quarter results that topped analyst estimates. Nvidia’s quarterly earnings report has become a way for investors to gauge the strength of the AI boom that has transfixed markets in recent months. Its strong results on Wednesday suggest that demand for the AI chips Nvidia makes remains robust, and CEO Jensen Huang said the company would see revenue from its next-generation AI chip, called Blackwell, later this year. The stock rose 7% in extended trading. Nvidia also said it was splitting its stock…

An Airbus A321-231 from Wizz Air is taking off from Barcelona Airport in Barcelona, Spain, on Feb. 23, 2024. Nurphoto | Nurphoto | Getty Images European low-cost airline Wizz Air forecast a higher annual profit on Thursday on the back of a strong summer and robust travel demand, after swinging to an annual net profit after three years. Hungary-based Wizz’s results come amid a flurry of mixed results from European airlines as costs rose but an expected record summer of travel is likely to boost revenues as consumers prioritised spending on holidays since the pandemic. The airline has benefitted from…

A close-up of the Workday logo on its headquarters in Pleasanton, California. Smith Collection | Archive Photos | Getty Images Human resources software provider Workday cut its annual subscription revenue forecast on Thursday, citing concerns about lower customer headcount growth as a hiring slowdown and IT budget cuts soften demand for its payroll services. Shares of the Pleasanton, California-based company fell nearly 9% in extended trading. A tough macroeconomic environment has dampened demand for the company’s human resource and payroll services, with U.S. tech companies continuing to lay off staff after massive retrenchment drives last year. The company sees subscription…

Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Friday’s key moments. 1. Wall Street was bouncing higher Friday after, as Jim Cramer put it, a “really bad day” in the prior session. Thursday’s late-day decline happened as bond yields rose on “good economic data being viewed as bad news.” The market also sold off despite a 9% post-earnings increase in shares of Nvidia . The AI chip giant’s stock was up modestly Friday. Goldman Sachs pushed its forecast for the first Federal Reserve interest rate cut…

CNBC’s Jim Cramer sees footwear company Deckers Outdoor as a disruptive industry player that even big rivals like Nike should be worried about. “Nobody can touch them right now,” Cramer said Friday on “Squawk on the Street.” Deckers is the company behind the fashion brand UGG, running shoes Hoka, and others. Deckers reported a strong quarterly beat after Thursday’s close, sending shares more than 14.5% higher on Friday to an all-time high of nearly $1,037 each. The stock has gained more than 50% year to date — far better than the S & P 500 ‘s 11% advance over the…

E.l.f. Beauty posted its first billion-dollar fiscal year on Wednesday as sales spiked 77%, but the retailer is expecting its growth to slow down in the current fiscal year. The eyes, lip, face company, known for its viral marketing and prowess in winning over younger consumers, issued guidance that came in lower than analysts had forecast. Shares of E.l.f. fell after its report was initially released, but later jumped after the company suggested that its guidance was conservative. “Last year, we started our guidance at 22% to 24% range, ended the year at 77%,” finance chief Mandy Fields told analysts.…

Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Thursday’s key moments. U.S. stocks were mixed on Thursday. The Nasdaq hit a record high after Club holding Nvidia’s spectacular quarterly earnings report on Wednesday. The leading AI chipmaker once again crushed analysts’ sky-high expectations on the top and bottom lines, pushing shares up more than 10%. The results reaffirmed our “own it, don’t trade it” thesis on Nvidia. Meanwhile, U.S. Treasury yields rose on Thursday’s stronger-than-expected S & P Global Manufacturing PMI , sending less tech-focused gauges, S…

In what was the most anticipated quarter this earnings season, Nvidia far outpaced lofty expectations on the top and bottom lines. Even better was a big revenue guide and a broader vision from CEO Jensen Huang that reinforced the notion that companies and countries are partnering with the AI chip powerhouse to shift $1 trillion worth of traditional data centers to accelerated computing. Revenue for its fiscal 2025 first quarter surged 262% year-over-year to $26.04 billion, well ahead of analysts’ forecasts of $24.65 billion, according to data provider LSEG, formerly known as Refinitiv. The company had previously guided revenue to…

TJX Companies shares climbed to an all-time high Wednesday after reporting better-than-expected fiscal first-quarter results Wednesday. The report showcased the off-price retailer’s appeal to bargain-hunting shoppers and prompted us to boost our price target on the stock. Total revenue for the three months ended May 4 advanced 6% year over year, to $12.48 billion, exceeding analysts’ forecasts of $12.46 billion, according to estimates compiled by LSEG. Adjusted earnings per share climbed 22% on an annual basis to 93 cents, outpacing analysts’ estimates of 87 cents per share, LSEG data showed. Shares added more than 4% Wednesday, to nearly $102 each,…

A customer shops at a Target store in Miami, Florida, on May 20, 2024. Joe Raedle | Getty Images Target will report its fiscal first-quarter earnings on Wednesday, just days after it said it would cut prices on thousands of groceries and everyday items. The Minneapolis-based retailer has set low expectations for the year ahead. It said in early March that it anticipated comparable sales would range from flat to up 2%, and adjusted earnings per share would range from $8.60 to $9.60 for the full year. Here is what Wall Street expects for the company, based on a survey…

The Macy’s company logo is seen at the Macy’s store on Herald Square on January 19, 2024 in New York City. Macy’s department-store chain announced that they will be laying off roughly 2,350 employees which is about 3.5% of their workforce. The company says that it will also be closing five stores in order to adjust to the online-shopping era. (Photo by Michael M. Santiago/Getty Images) Michael M. Santiago | Getty Images News | Getty Images Macy’s fiscal first-quarter earnings topped Wall Street’s expectations on Tuesday, and the retailer’s revenue came in roughly in line with revenue expectations as it…

Another earnings report, another sell-off in extended trading for Palo Alto Networks . But like the two releases preceding Monday night’s results, we’re looking at the decline as buying opportunity for long-term investors. Revenue during the cybersecurity company’s fiscal 2024 third quarter increased 15% year over year to $1.985 billion, beating the consensus estimate of $1.967 billion that was compiled by LSEG. Adjusted earnings per share grew 20% to $1.32 in the three months ended April 30, ahead of estimates of $1.25 per share, LSEG data showed. Total billings increased a meager 3% year over year to $2.33 billion, missing…

People walk past a Sweetgreen restaurant in Manhattan on September 14, 2023.  Jeenah Moon | The Washington Post | Getty Images With higher prices and elevated interest rates stubbornly sticking around, Chipotle burrito bowls and European vacations are still on the table for many consumers. But Big Macs and kitchen remodels aren’t. The most recent round of quarterly earnings reports helped to sort companies into largely two camps: McDonald’s, Starbucks and Home Depot were among the consumer-centric companies that surprised investors with weaker-than-expected results, saying customers had pulled back on their spending. Others, like Sweetgreen and Delta Air Lines, bucked…

A BT Group Plc logo on a EE/BT Group Plc store in London, UK, on Wednesday, May 17, 2023. Hollie Adams | Bloomberg | Getty Images LONDON — Shares of BT Group surged Thursday after the company announced a target of a further £3 billion ($3.8 billion) in cost savings. BT shares were up 14.9% at 12:40 p.m. London time after CEO Allison Kirkby said the company had passed peak capital expenditure on its fiber broadband rollout and achieved its £3 billion cost and service transformation program “a year ahead of schedule.” This has enabled BT to issue a new…

Chris So | Toronto Star | Getty Images Shares of Canada Goose surged 16% on Thursday after the company reported earnings for the fiscal fourth quarter and announced it was expecting year-over-year sales growth for fiscal year 2025. Here’s how the company did: Earnings per share: 5 Canadian cents, which may not compare with estimates of 7 Canadian cents Revenue: CA$358 million (US$263 million), which may not compare with the CA$315.5 million (US$232 million) expected by LSEG. Revenue increased 22% from the same period a year ago. Neil Bowden, Canada Goose’s chief financial officer, said on an earnings call with…

All three major averages closed higher for the week, driven by softer retail sales and consumer price data for April. It was another bad news is good news week for Wall Street, with both weaker-than-expected reports pointing to further disinflation — which is key to any hopes of the Federal Reserve cutting interest rates in 2024. Two more reports supported the idea that the central bank’s fight against inflation is working: U.S. single-family homebuilding and permits fell in April after a surprise rise the previous month, while industrial production came in below expectations. Not everything signaled a slowing down. The…

The bulls got what they wanted this week: cooler inflation data and record highs. The Dow Jones Industrial Average on Friday closed above 40,000 for the first time, capping off a 1.24% advance for the week. The S & P 500 and Nasdaq Composite , meanwhile, closed at all-time highs Wednesday, fueled by cooler-than-expected inflation data released before the bell that day. The indexes had tame, but mixed moves over the final two trading days of the week; both finished Friday slightly below their Wednesday peaks. For the week, the S & P 500 added 1.54% while the tech-heavy Nasdaq…

Shoppers line up to enter a Cartier store on Canton Road in the Tsim Sha Tsui area of Hong Kong. Billy H.C. Kwok | Bloomberg | Getty Images Shares of Swiss luxury group Richemont climbed as much as 6.3% Friday after the company reported record full-year sales, even as Asia-Pacific spending waned. The Cartier owner said group sales rose 3% at actual exchange rates to an all-time high of 20.6 billion euros, or $22.38 billion, in the financial year ending in March, despite a weakening outlook for luxury brands. Shares pared gains slightly after market open to trade up 4.9%…

Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Friday’s key moments. U.S. stocks were flat on Friday, a session after the Dow hit above the 40,000 mark for the first time. The Nasdaq Composite and S & P 500 also notched intraday records Thursday, but slipped by the close. It’s a “muted market,” said Jim Cramer, where “there’s not much happening in any single place.” But Club holding Nvidia’s quarterly earnings on Wednesday could be the next catalyst, Jim argued. This is because investors often see…

Under Armour announced a broad restructuring plan on Thursday as it said sales in its largest market, North America, plunged 10% and predicted the trend will get worse throughout its current fiscal year.  The athletic apparel retailer also saw profits sink by more than 96% during its fiscal fourth quarter, compared with the year-ago period.  It’s unclear how many employees Under Armour will lay off as part of the restructuring, but the plan is expected to cost between $70 million and $90 million, a portion of which will be used for employee severance and benefits costs. The company declined to…

Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of key moments. The Dow on Thursday topped 40,000 for the first time ever. The S & P 500 and the Nasdaq also hit record highs for the second session in a row — pushing the market further into overbought territory. “I have always felt that when you have a huge, fast move up, it’s incumbent to take something off the table because you can have a huge fast move down,” Jim Cramer said Thursday. That’s why we trimmed…

People walk near the entrance of a Walmart store in Miami, Florida, on May 14, 2024. Joe Raedle | Getty Images Walmart will report earnings on Thursday, as investors look to the nation’s largest retailer to gauge the health of American consumers and the strength of the industry. Here is what Wall Street expects for the discounter, based on a survey of analysts by LSEG: Earnings per share: 52 cents adjusted expected Revenue: $159.50 billion As the nation’s largest retailer and private employer, Walmart is often viewed as a bellwether for the U.S. economy. Yet, it has generally fared better…

Palo Alto Networks is clawing its way back after a brutal earnings sell-off in February, and Wall Street analysts say the cybersecurity company’s earnings next week will justify its resurgence. Shares of Palo Alto plunged 28% on Feb. 21, a session after the company delivered a more cautious outlook for the rest of 2024. The stock then seesawed for more than a month until shares bottomed out at $265 apiece on April 4. At the top of investors’ worries: Softness in the U.S. federal government market, along with the financial impact of ramping up its “platformization” strategy to bundle services…

Check out the companies making headlines after the bell : Boot Barn — The western apparel and footwear stock slid 7% after issuing light revenue and earnings guidance for the full year. Boot Barn said it expects earnings for the year to range between $4.55 and $4.85 a share, behind a FactSet estimate of $5.16 per share. The company topped quarterly estimates on the top and bottom lines. Nextracker — The solar technology stock popped 8%. Nextracker posted $737 million in revenue for the fiscal fourth quarter, topping an LSEG estimate of $682 million. The company issued full-year revenue that…

Alibaba said it is working on a rival to ChatGPT, the artificial intelligence chatbot that has caused excitement across the world. Alibaba said its own product is currently undergoing internal testing. Kuang Da | Visual China Group | Getty Images Shares of Alibaba fell sharply on Tuesday after the Chinese tech giant’s net profit plunged in the fiscal fourth quarter. Here’s how Alibaba did in the March quarter versus LSEG consensus estimates: Revenue: 221.9 billion yuan ($30.7 billion) versus 219.66 billion yuan expected. Net income attributable to ordinary shareholders came in at 3.3 billion yuan, down 86% year on year.…

An Emirates Airlines plane Karim Sahib | AFP | Getty Images DUBAI, United Arab Emirates — Dubai-based carrier Emirates airline on Monday reported record annual profit of 17.2 billion dirhams ($4.7 billion) for the 2023-2024 financial year, up 63% from the year prior. The flag carrying airline of the UAE’s glitzy commercial capital has enjoyed a consistently recovering travel sector, expanding its route network to meet booming demand. The latest figures from world’s largest long-haul airline were the best in its history and were “driven by the voracious appetite for travel across customer segments,” the Emirates Group said in a…

SoftBank’s Vision Fund, the brainchild of the company’s founder Masayoshi Son, has faced a number of headwinds including a slump in technology stocks as a result of rising interest rates, a tough China market and geopolitics. Kentaro Takahash | Bloomberg | Getty Images SoftBank posted a 724.3 billion Japanese yen ($4.6 billion) gain on its Vision Fund in the fiscal year ended in March, the first time the flagship tech investment arm has been in the black since 2021. For the full fiscal year, SoftBank’s Vision Fund segment posted a profit of 128.2 billion yen, compared with a 4.3 trillion…

We always say we love companies that are serial repurchasers of their stocks. That’s because as outstanding share counts go down, investors don’t have to do anything to get baked-in returns and own larger and larger pieces of the companies. Apple ‘s latest $110 billion stock buyback authorization is the granddaddy of them all — the biggest in corporate history. Apple has a long history of huge repurchase plans. Assuming an average annual $100 billion buyback by the Club name going forward, we wanted to look at just how much that is worth to shareholders. But first, let’s set the…

The earnings season is wrapping up, but there are still some key names set to report, which could provide insight into the health of the consumer. Just seven S & P 500 names are slated to post their quarterly figures, including Home Depot and Walmart. Overall, 92% of the S & P 500 has already reported, with nearly 80% of those companies beating expectations, per FactSet. Take a look at CNBC Pro’s breakdown of what’s expected from some of this week’s key reports. All times are Eastern. Tuesday Home Depot is set to report earnings before the bell. A call…

CNBC’s Jim Cramer likes Costco stock despite its high valuation and suggests it has more room to run. “I feel very comfortable” about Costco, Cramer said Thursday on ” Squawk on the Street ,” after the wholesale retailer reported a solid April sales report. “I know the multiple is very high, but they offer such a bargain.” Costco trades at a forward price-to-earnings multiple of 44.8 — above its five-year average of 35.9 times and the industry, according to FactSet. Cramer said the P/E is currently not a concern because he thinks the stock can go higher. He pointed out…

In this photo illustration, the Warner Bros. Discovery logo is displayed on a smartphone screen. Rafael Henrique | SOPA Images | Lightrocket | Getty Images Warner Bros. Discovery reported first-quarter results on Thursday, missing analyst expectations on both the top and bottom lines despite strength in its streaming unit. The company’s stock gained 3% Thursday. Here is how Warner Bros. Discovery performed, compared with estimates from analysts surveyed by LSEG: Loss per share: 40 cents vs. 24 cents loss expected Revenue: $9.96 billion vs. $10.231 billion expected Warner Bros. Discovery — which owns streaming service Max, a portfolio of cable TV networks…

At American Express, consumers are continuing to open high-fee credit cards and splurge on luxuries like travel. But for lending firm Upstart, there’s a strong interest in microloans as cash-strapped Americans try to scrape by. That juxtaposition underscores the growing picture of bifurcation among income brackets in America. And adds to an increasingly popular view that the U.S. is experiencing a “K”-shaped recovery since the end of the pandemic, where higher income classes reap the most benefits and lower-income Americans tread water or fall behind. It’s led to a confusing picture of the U.S. economy that can impact everything from…

People dine outside a Sweetgreen in Manhattan. Jeenah Moon | The Washington Post | Getty Images Sweetgreen shares surged 35% on Friday after the company topped Wall Street’s revenue expectations for the first quarter. The salad chain reported $158 million in revenue, beating the LSEG consensus estimate of $152 million. It is an increase of 26% from the prior-year period when it reported revenue of $125.1 million. Sweetgreen also raised revenue and adjusted EBITDA guidance for the full year. Shares of the company are up 189% so far in 2024. Jonathan Neman, Sweetgreen CEO and co-founder, said on an earnings…

BEIJING, CHINA – DECEMBER 04: A logo hangs on the building of the Beijing branch of Semiconductor Manufacturing International Corporation (SMIC) on December 4, 2020 in Beijing, China. (Photo by VCG/VCG via Getty Images) Vcg | Visual China Group | Getty Images Semiconductor Manufacturing International Corporation on Friday warned of intense competition in the chip industry after its first-quarter profit missed expectations. “Competition in the industry has been increasingly fierce and the pricing for commodity products basically follows the market trends,” SMIC said on Friday during the firm’s earnings call. “The company fulfills its [long-term view] through constructing quality technology…

The logo of semiconductor design firm Arm on a chip. Jakub Porzycki | Nurphoto | Getty Images Shares of British chip designer Arm fell about 3% on Thursday as lackluster revenue guidance clouded a positive sales quarter driven by demand for artificial intelligence applications. Arm reported fiscal fourth-quarter revenue of $928 million Wednesday, marking a 47% year-over-year rise. The performance was driven by Arm’s licensing business, which grew 60% to $414 million in the quarter. The firm cited “multiple high-value license agreements being signed” for AI chips. Arm’s royalty revenue, meanwhile, grew 37% year over year to $514 million, with…

In this photo illustration, the Airbnb logo is displayed on a computer monitor and cell phone on February 13, 2024 in Los Angeles, California. Mario Tama | Getty Images Airbnb reported first-quarter results on Wednesday that beat analysts’ estimates but offered weaker-than-expected guidance. Shares fell more than 6% in extended trading. Here’s how the company did, compared with consensus expectations from LSEG: Earnings per share: 41 cents vs. 24 cents expected Revenue: $2.14 billion vs. $2.06 billion expected Revenue increased 18% from $1.82 billion a year earlier. Airbnb reported a net income of $264 million, or 41 cents per share, compared to…

Siemens Energy shares soared as much as 13% on Wednesday after the German renewables firm raised its forecast for the year and announced that the CEO of its troubled wind turbine unit will be replaced amid “comprehensive restructuring measures.” It said in a statement that Jochen Eickholt at Siemens Gamesa informed the board that he will step down from his position as CEO by mutual agreement on July 31, and be succeeded by Vinod Philip. “In a very difficult situation at Siemens Gamesa, Jochen laid the central foundations for the urgently needed reorganization and new start within Siemens Energy. It…

Reddit CEO Steve Huffman hugs mascot Snoo as Reddit begins trading on the New York Stock Exchange (NYSE) in New York on March 21, 2024.  Timothy A. Clary | AFP | Getty Images Reddit shares rallied 14% in extended trading on Tuesday after the company released quarterly results for the first time since its IPO in March. Here’s how the company did: Loss per share: $8.19. That may not compare with the $8.71 loss expected by LSEG Revenue: $243 million vs. $212.8 million expected by LSEG Revenue climbed 48% from $163.7 million a year earlier. The company reported $222.7 million…

A BP gas station in Madrid, Spain. Sopa Images | Lightrocket | Getty Images BP on Tuesday reported a fall in first-quarter profit, with results coming in below analyst expectations amid a “significantly weaker” margin in fuels and lower gas and oil prices. The British energy giant logged underlying replacement cost profit, used as a proxy for net profit, of $2.7 billion. That was down from $3 billion the previous quarter and compared with an estimate in an LSEG-compiled consensus of $2.9 billion. The results reflect lower oil and gas realizations and a “significantly weaker” fuels margin, the company said in its…

UBS logo is seen at the office building in Krakow, Poland on February 22, 2024. Jakub Porzycki | Nurphoto | Getty Images UBS on Tuesday reported a net profit of $1.8 billion for the first quarter of the year, smashing analyst expectations. Lower expenses following the takeover of Credit Suisse in June 2023 helped the bank post a net profit of $1.8 billion in the first quarter, ahead of a consensus forecast in an LSEG poll of $721.4 million. Group revenue totaled $12.74 billion, also higher than expected and up from $10.86 billion in the fourth quarter of 2023. The bank’s CET1…

Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Monday’s key moments. U.S. stocks rose on Monday, adding to the prior session’s gains when the S & P 500 , Dow and Nasdaq popped over 1% each on a softer-than-expected jobs report. Investors celebrated signs that the Federal Reserve’s monetary tightening campaign seemed to be working, pushing the U.S. economy in the right direction for interest rate cuts. Monday kicks off a “benign week” for the market, Jim Cramer said, citing the lack of key economic prints…

Lionel Bonaventure | AFP | GettyImages Credit Agricole, France’s second-biggest listed bank, posted a forecast-beating 55% jump in first-quarter net profit on Friday, helped by corporate and investment banking sales that outperformed rivals. Net profit in the January to March period rose to 1.9 billion euros ($2.04 billion), above the 1.48 billion-euro average of 19 analyst estimates compiled by the company. Sales climbed 11% to 6.81 billion euros, topping analyst expectations of 6.47 billion euros. The cost of risk, or money put aside for bad loans, was 400 million euros, 105 million euros less than expected. European banks’ first-quarter earnings…

A smartphone with displayed Coinbase logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. Dado Ruvic | Reuters Coinbase reported better-than-expected revenue in its first-quarter earnings report on Thursday. The stock was trading about 2% lower in extended trading. Here’s how the company did, compared to analysts’ consensus from LSEG. Earnings: $4.40 per share. That may not be comparable to the $1.09 average analyst estimate. Revenue: $1.64 billion vs. $1.34 billion expected Coinbase, the primary marketplace in the U.S. for buying and selling digital tokens, reported net income of $1.18 billion, or…

There’s still plenty of room for upside in tech stocks, Morgan Stanley said earlier this week. The firm named a slew of companies it says are well positioned following their latest quarterly earnings reports. CNBC Pro combed through Morgan Stanley research to find the firm’s favorite overweight-rated stocks based on the latest results and updated forecasts. They include: Spotify, Apple , Alphabet and Microsoft. Alphabet The internet search giant is “firing on all cylinders,” according to the firm. Analyst Brian Nowak called the earnings report on April 25 “notably strong.” “GOOGL’s 1Q revenue and EBIT beat demonstrate the durability of…

Berkshire Hathaway reported Saturday a huge year-over-year increase in operating earnings in the first quarter, while its cash holdings bubbled to record levels. The Warren Buffett-led conglomerate posted an operating profit — which encompasses earnings from the company’s wholly owned businesses — that surged 39% to $11.22 billion from the year-earlier period. That gain was led by a 185% year-on-year increase in insurance underwriting earnings to $2.598 billion from just $911 million. Geico earnings swelled 174% to $1.928 billion from $703 million a year prior. Insurance investment income also swelled 32% to more than $2.5 billion. Warren Buffett walks the…

The injectable weight loss medication Wegovy at New City Halstead Pharmacy in Chicago on April 24, 2024. Scott Olson | Getty Images Novo Nordisk, which became the most valuable company in Europe last year due to the blockbuster success of its weight loss drugs, on Thursday beat first-quarter profit expectations as demand for those medications boomed. The Danish pharmaceutical giant reported net profit rose 28% year on year to 25.4 billion Danish kroner, or $3.65 billion, ahead of a consensus forecast in an LSEG poll of 23.7 billion kroner. Sales of popular weight loss drug Wegovy more than doubled to…

Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Friday’s key moments. U.S. stocks jumped Friday as Wall Street cheered a softer-than-expected jobs report — an encouraging sign that the Federal Reserve’s battle to tame inflation is working. “This is the kind of number you need that basically says the Fed is doing their job,” Jim Cramer said. Market gains were also driven by Club holding Apple stock, up more than 6% Friday after the iPhone maker posted a top and bottom line quarterly beat Thursday and…

Apple did it again: Despite all the worries about China, the consumer tech giant hit back with beats on the top and bottom lines, sending shares up 6% in after-hours trading. This is why we own it. This is why we don’t trade it. Apple’s fiscal first quarter revenue hit $90.75 billion, down 4% from a year ago but ahead of the LSEG estimate of $90.01 billion. Earnings per share rose 1% to $1.53, a March quarter record, and exceeded the LSEG consensus estimate of $1.50. Gross margin was 46.6%, an expansion of 230 basis points from a year ago…

Apple reports earnings for its second fiscal quarter on Thursday after the markets close. Investor expectations are low and Apple could surpass them even if sales growth is weak. In February, Apple said it expected sales similar to last year’s $94.84 billion during the same period and flat iPhone sales. Here’s what analysts expect from Apple, according to LSEG consensus estimates: Earnings per share: $1.50 Revenue: $90.01 billion Here’s how Apple’s business units are expected to fare in the March quarter, per LSEG estimates: iPhone revenue: $46.00billion Mac revenue: $6.86 billion iPad revenue: $5.91 billion Wearables, home and accessories revenue:…

Qualcomm CEO Cristiano Amon responds to a question during a keynote conversation at CES 2024, an annual consumer electronics trade show, in Las Vegas, Nevada, on Jan. 10, 2024. Steve Marcus | Reuters Qualcomm reported fiscal second-quarter earnings on Wednesday that surpassed Wall Street expectations, and provided a strong guide for the current quarter. Shares rose about 4% in extended trading. Here’s how it did versus LSEG consensus estimates for the quarter ended March 24: Earnings per share: $2.44 adjusted vs. $2.32 expected Revenue: $9.39 billion adjusted vs. $9.34 billion expected Net income during the quarter was $2.33 billion, or…

CVS Health on Wednesday reported first-quarter revenue and adjusted earnings that missed expectations and slashed its full-year profit outlook, citing higher medical costs that are dogging the U.S. insurance industry. Shares of the company plunged nearly 18% on Wednesday, and were headed for their worst day since November 2009. The drugstore chain expects 2024 adjusted earnings of at least $7 per share, down from a previous guidance of at least $8.30 per share. Analysts surveyed by LSEG were expecting full-year adjusted profit of $8.28 per share.  CVS also cut its unadjusted earnings guidance to at least $5.64 per share, down…

GE Healthcare shares sank Tuesday after the company’s first-quarter sales and profits fell slightly short of the Wall Street consensus. The shortfall is disappointing, but the stock’s steep sell-off is an overreaction and creates an opportunity for investors. Total revenue dipped 1% year over year to $4.65 billion, missing analysts’ expectations of $4.8 billion, according to estimates compiled by LSEG. Adjusted earnings per share of $0.90 missed the LSEG estimate by 1 cent. GE Healthcare Why we own it : GE Healthcare is the global leader in medical imaging, diagnostics, and digital solutions in health care. Its split from General Electric…

Amazon CEO Andy Jassy speaks at the Bloomberg Technology Summit in San Francisco on June 8, 2022. David Paul Morris | Bloomberg | Getty Images Amazon will report first-quarter earnings after the bell on Tuesday. Here’s what analysts are expecting according to LSEG: Earnings per share: 83 cents Revenue: $142.5 billion Wall Street is also watching several other numbers in the report: Amazon Web Services: $24.5 billion in revenue, according to StreetAccount Advertising: $11.7 billion in revenue, according to StreetAccount Analysts are expecting Amazon to report revenue growth of 12%, which would mark a fourth straight quarter of expansion in…

The HSBC Holding logo is being displayed on a smartphone with HSBC visible in the background in this photo illustration taken in Brussels, Belgium, on February 20, 2024.  Jonathan Raa | Nurphoto | Getty Images HSBC beat expectations in its first quarter earnings report on Tuesday. Revenue came in at $20.8 billion, gaining 0.3% from the same period a year ago and compared with the median LSEG forecast for about $16.94 billion. Pretax profit in the January to March period came in at $12.7 billion, falling 2% from a year ago when profit before tax came in at $12.88 billion.…

CNBC’s Jim Cramer expressed sympathy for Southwest as the airline stock was further punished by a new sell call following last week’s wider-than-expected quarterly loss on Boeing aircraft delays. “I don’t know what you can do. A lot of this is not their fault. It’s Boeing’s fault,” Cramer said Monday on “Squawk on the Street.” “I don’t know. It’s too early to buy” the stock. Southwest fell more than 1% on Monday, extending its losing streak to five straight sessions — including last Thursday’s almost 7% earnings-day decline. The stock has lost 8% year to date. LUV YTD mountain Southwest…

Alphabet on Thursday delivered a knockout first-quarter report, with sales, operating margin and profits all topping Wall Street expectations. The search giant also reloaded its stock buyback program and initiated a quarterly dividend for the first time in its history. Total revenue in the three months ended March 31 rose 15.4% year over year to $80.54 billion, outpacing the $78.59 billion expected, according to estimates compiled by data provider LSEG. Earnings per share surged 62% on an annual basis to $1.89, exceeding the $1.51 expected, LSEG data showed. Alphabet Why we own it : Alphabet’s Google Search is an invaluable…

It’s the busiest week of the earnings season, and it could have major consequences for the stock market. About 160 S & P 500 companies are slated to post their results, including Apple, Amazon and McDonald’s . Pfizer is also on deck. Through Friday’s close, more than 200 S & P 500 members had reported first-quarter earnings. Of those companies, 80% had beaten expectations, FactSet data shows. To be sure, tech giants such as Meta Platforms and IBM struggled after posting their latest numbers. Take a look at CNBC Pro’s breakdown of what’s expected from some of this week’s key…

Gas pumps are seen at a Chevron gas station in Orlando.  Paul Hennessy | SOPA Images | Lightrocket | Getty Images Chevron beat earnings expectations Friday, but its profit fell from the year-ago period as its refineries and international gas business faced headwinds. Here is what Chevron reported for the first quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:  Earnings per share: $2.93 adjusted vs. $2.87 expected Revenue: $48.72 billion vs. $50.66 billion expected The oil major’s net income declined 16% to $5.5 billion, or $2.97 per share, compared with the same…

An Airbus employee works on an aircraft part of the Airbus A350 at the Airbus Atlantic plant in Bouguenais, near Nantes, western France, on Feb. 29, 2024. Sebastien Salom-gomis | Afp | Getty Images Airbus is ramping up production of its A350 aircraft because of consumer demand and not the ongoing crisis at U.S. rival Boeing, according to the French plane maker’s chief financial officer. Toulouse-based Airbus on Thursday announced plans to increase its production rate for the long-range aircraft to 12 units per month in 2028.  “I would say it’s clearly a reflection of the very strong commercial momentum that we…

Microsoft delivered picture-perfect earnings after the bell Thursday, calming the market’s brief fears about runaway spending on AI infrastructure without the cloud revenues to show for it. Revenue increased about 17% year over year, to $61.86 billion, beating the Street consensus estimate of $60.8 billion, according to data from LSEG. Earnings per share (EPS) increased 20% from last year to $2.94, ahead of estimates for $2.82 a share, LSEG data showed. Microsoft Why we own it : Microsoft is a core backbone of global productivity thanks to its Office 365 suite and hybrid cloud platform Azure. The company is also…

Exxon Mobil on Friday reported first-quarter earnings that missed expectations as the industry came under pressure from eroding refining margins and collapsing natural gas prices. Exxon’s stock is down more than 3%. Here is what Exxon reported for the first quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:  Earnings per share: $2.06 vs. $2.20 expected Revenue: $83.08 billion vs. $78.35 billion expected The nation’s largest oil company reported net income of $8.22 billion, or $2.06 per share, a 28% decrease from earnings of $11.43 billion, or $2.79 per share, in the same…

Sundar Pichai, CEO, Alphabet Source: Google Alphabet shares rallied in extended trading on Thursday after the company reported results that topped analysts’ estimates, showed soaring profits in its cloud division and announced its first dividend. The after-hours jump lifted Alphabet’s market cap past $2 trillion. Here are the results. Earnings per share: $1.89 vs. $1.51 expected by LSEG Revenue: $80.54 billion vs. $78.59 billion expected by LSEG Wall Street is also watching several other numbers in the report: YouTube advertising revenue: $8.09 billion vs. $7.72 billion expected, according to StreetAccount. Google Cloud revenue: $9.57 billion vs. $9.35 billion expected, according to StreetAccount. Traffic…

Southwest Airlines on Thursday posted a wider loss for the first quarter than the same period last year and warned that Boeing’s airplane delays will hamper its growth into 2025. The airline expects to grow capacity 4% this year, down from a plan to expand 6%. For the second quarter, it forecast growth of 8% to 9% and said revenue would be down as much as 3.5%. Shares of Southwest were down more than 8% in afternoon trading. The airline said in a quarterly filing that it now expects to receive only 20 Boeing 737 Max 8 planes, down from…

SK Hynix Inc. signage at the company’s office in Seongnam, South Korea, on Monday, April 22, 2024. SK Hynix is scheduled to release earnings figures on April 25. Photographer: SeongJoon Cho/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty Images South Korean memory chipmaker SK Hynix on Thursday reported a net profit of 1.92 trillion South Korean won ($1.39 billion) in the first quarter, reversing a loss of 2.58 trillion won logged in the same period a year ago. This was the first positive income recorded since the third quarter of 2022, LSEG data showed. SK Hynix posted net losses…

The Ford display at the New York International Auto Show on March 28, 2024.  Danielle DeVries | CNBC DETROIT — Ford Motor is announcing first-quarter earnings after the markets close Wednesday. Here is what Wall Street expects, based on average analyst estimates compiled by LSEG: Earnings per share: 42 cents adjusted Automotive revenue: $40.10 billion Those results would mark a 2.6% increase in revenue compared to a year earlier and a 32.9% decline in adjusted earnings per share. Ford’s first-quarter 2023 results included $39.09 billion in revenue; net income of $1.8 billion, or 44 cents per share; and adjusted earnings…

An aerial photo shows Boeing 737 Max airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, on March 21, 2019. Lindsey Wasson | Reuters Boeing’s quarterly report on Wednesday will be the most complete accounting to date of the fallout from the midair loss of a door plug from a 737 Max 9 plane in January, an accident that sparked another costly safety crisis for the manufacturer. Analysts expect the maker of the 737 to report its seventh consecutive quarterly loss and that it burned through more cash than expected because of the accident, which has brought…

Tesla vehicles sit on the lot at a Tesla dealership on April 15, 2024 in Austin, Texas.  Brandon Bell | Getty Images Tesla is set to report first-quarter earnings after the bell on Tuesday. Here’s what analysts are expecting, according to LSEG: Earnings per share: 51 cents Revenue: $22.15 billion Wall Street is projecting that revenue will drop 5.1% from $23.33 billion a year earlier, which would mark the first year-over-year drop in sales since 2020, when the Covid pandemic disrupted production. Tesla shares have plummeted 42% this year on concerns about weak deliveries, competition in China and the company’s ongoing price…

The GM logo is seen on the facade of the General Motors headquarters in Detroit on March 16, 2021. Rebecca Cook | Reuters DETROIT — General Motors is set to report its first-quarter earnings before the bell Tuesday. Wall Street expects General Motors to report solid, if not “resilient,” results for the first quarter of this year, largely driven by expectations that vehicle pricing remained higher than anticipated to begin the year, according to recent analyst notes.  Here is what Wall Street is expecting, according to average estimates compiled by LSEG: Earnings per share: $2.15 adjusted Revenue: $41.92 billion Those…

Verizon Communications said on Monday it lost fewer-than-expected wireless subscribers in the first quarter thanks to its flexible plans and streaming bundles offering discounted pricing for services such as Netflix and Warner Bros Discovery‘s Max. Shares of the U.S. telecom firm rose 2.5% in premarket trading. It lost 68,000 monthly bill-paying wireless phone subscribers between January and March – a seasonally soft period for the industry after the holiday quarter. That compared with an estimated loss of 100,000, according to FactSet, and a loss of 127,000 in the first quarter of 2023. The New York-based company said last month that…

Omar Marques/SOPA Images | LightRocket | Getty Images Finnish telecom gear maker Nokia reported a smaller-than-expected rise in quarterly profit on Thursday as sluggish demand for 5G gear in key markets North America and India continued to weigh on sales. “This will still be a weak year, for the mobile RAN (radio access network) market and we expect, as I said, it to gradually pick up during the year,” CEO Pekka Lundmark told reporters. A fall in demand for 5G equipment in North America, the largest market for Nokia and Swedish rival Ericsson, and market share losses in China have…

A big week of earnings looms, featuring some of the largest companies in the world. Roughly 30% of the S & P 500 is slated to report. So far, the reporting period has been mixed. While more than 73% of the companies that have reported have beaten estimates, overall Q1 growth is on pace to remain flat year on year, FactSet data shows. Analysts expected growth of more than 3% heading into the season. Among the companies on deck to post results are Meta Platforms, Tesla and General Motors. Take a look at CNBC Pro’s breakdown of what’s expected from…

Norway’s giant sovereign wealth fund on Thursday reported a first-quarter profit of 1.21 trillion kroner ($110 billion), supported by robust returns on its investments in technology stocks. The so-called Government Pension Fund Global, the world’s largest sovereign wealth fund, said it had a value of 17.7 trillion kroner at the end of March. It described the relative return through the first three months of the year as “good” for equity and fixed income investments, but noted that “this was offset by weak results from real estate, leading to a negative result overall.” The return on the fund’s equity investments in…

A couple sits in front of a television with the Netflix logo on it. Picture Alliance | Picture Alliance | Getty Images LOS ANGELES — Netflix will no longer provide quarterly membership numbers or average revenue per user starting next year, the company said Thursday as it reported earnings that beat on the top and bottom lines. Total memberships rose 16% in the first quarter, reaching 269.6 million, well above the 264.2 million Wall Street had expected. However, the quarter marks one of the last glimpses investors will get of the company’s subscriber base going forward. “As we’ve noted in previous letters, we’re focused on revenue and…

Procter & Gamble shares were down sharply early in Friday’s session after the consumer products giant reported a mixed quarter. We viewed the action as a bit of profit-taking — and not a reflection of the results. The stock entered the session on a four-day winning streak while the broader market declined. Late Friday, as the Dow went into the green, so did P & G stock. P & G sales in the three months ended March 31 increased 1% year over year (3% organic) to $20.195 billion, short versus the $20.408 billion expected by analysts, according to data provider…

Procter & Gamble on Friday reported mixed quarterly results as it struggles to bring back shoppers after two years of hiking prices across its portfolio, from Tide detergent to Charmin toilet paper. The company’s prices were up 3% compared with the year-ago period, although CFO Andre Schulten said on a media call that P&G didn’t institute any nationwide price hikes during the quarter. Despite its disappointing sales, the consumer giant raised its full-year outlook for earnings growth. Shares of the company fell more than 1% in morning trading. Here’s what P&G reported compared with what Wall Street was expecting, based on…

A logo of Taiwan Semiconductor Manufacturing Company (TSMC) is seen during the TSMC global RnD Center opening ceremony in Hsinchu on July 28, 2023. (Photo by Amber Wang / AFP) Amber Wang | Afp | Getty Images Taiwan Semiconductor Manufacturing Company on Thursday beat revenue and profit expectations in the first quarter, thanks to continued strong demand for advanced chips, particularly those used in AI applications. Here are TSMC’s first-quarter results versus LSEG consensus estimates: Net revenue: 592.64 billion New Taiwan dollars ($18.87 billion), vs. NT$582.94 billion expected Net income: NT$225.49 billion, vs. NT$213.59 billion expected TSMC reported net revenue rose 16.5% from…

An Alaska Airlines Boeing 737 MAX 9 taxis at Seattle-Tacoma International Airport on March 25, 2024 in Seattle, Washington.  Stephen Brashear | Getty Images Alaska Airlines forecast second-quarter and full-year earnings well ahead of estimates on Thursday thanks to strong travel demand, despite a first-quarter loss stemming from a midair blowout of a door plug on a nearly new Boeing 737 Max 9 in January. Alaska forecast adjusted earnings per share of between $2.20 and $2.40, above the $2.12 analysts polled by LSEG expected. For 2024, the carrier expects earnings ranging from $3.25 to $5.25 a share, well above the…

Abbott Laboratories delivered a top and bottom line beat Wednesday and surprised investors by raising its full-year guidance — a show of confidence by the medical device maker not seen in a first quarter since 2016. Revenue for the three months ended March 31 rose slightly more than 2% year over year to $9.96 billion, outpacing expectations of $9.88 billion, according to LSEG. On an organic basis, sales were up 10.8% versus the year-ago period (excluding Covid testing sales), also ahead of expectations of a 9.45% increase. Earnings per share fell slightly less than 5% to 98 cents, which outpaced…

Shares of ASML on Wednesday fell as the company missed sales forecasts, but stuck to its full-year outlook. ASML’s stock was down around 4.5% in early European trade after the results. Here’s how ASML did versus LSEG consensus estimates: Net sales: 5.29 billion euros ($5.62 billion) versus 5.39 billion euros expected. Net profit: 1.22 billion euros versus 1.07 billion euros expected. Net sales fell 21.6% year-on-year while net income dropped 37.4%. ASML’s net sales fell in the middle point of the company’s guidance. Net bookings for ASML’s machinery, a closely watched booking, totaled 3.6 billion euros in the first quarter, down…

A United Airlines Boeing 737 Max 9 aircraft lands at San Francisco International Airport. Justin Sullivan | Getty Images United Airlines on Tuesday cut its aircraft-delivery expectations for the year as it grapples with delays from Boeing, the latest airline to face growth challenges because of the plane-maker’s safety crisis. United expects to receive just 61 new narrow-body planes this year, down from 101 it said it had expected at the beginning of the year and contracts for as many as 183 planes in 2024. “We’ve adjusted our fleet plan to better reflect the reality of what the manufacturers are…

New Doc Martens boots seen in Dublin’s Doc Martens store window. On Monday, 05 July 2021, in Dublin, Ireland. Artur Widak | Nurphoto | Getty Images Shares of Dr. Martens plunged 30% on Tuesday to hit a record low, after the shoemaker flagged a challenging 2025 outlook on the back of weaker revenues. Trading in the company shares was temporarily suspended on the London Stock Exchange after the firm issued an unscheduled trading update. By the close, shares had pared losses slightly but were still down by 28%. Dr. Martens said it expects its wholesale revenue in the U.S. in…

Goldman Sachs on Monday posted first-quarter profit and revenue that topped analysts’ expectations, fueled by a surge in trading and investment banking revenue. Here’s what the company reported: Earnings: $11.58 per share, vs. $8.56 expected, according to LSEG Revenue: $14.21 billion, vs. $12.92 billion expected The bank said profit jumped 28% to $4.13 billion, or $11.58 per share, from the year earlier period, thanks to a rebound in capital markets activities. Revenue rose 16% to $14.21 billion, topping analysts’ estimates by more than $1 billion. Goldman shares climbed about 3% Monday. Fixed income trading revenue rose 10% to $4.32 billion,…

UnitedHealth Group’s first-quarter earnings report Tuesday will mark the health-care giant’s first major public comments since a cyberattack on its Change Healthcare billing and payments subsidiary in February, which has led to the largest disruption in U.S. health care since the Covid pandemic. “Everybody looks to United as the bellwether of all of health-care services. This will be different,” said Lisa Gill, managing director and health care analyst at JPMorgan.    The data breach at the Change Healthcare unit forced the firm to take down its massive billing and payment processing service. While the company has restored services for pharmacies,…

First-quarter corporate earnings kick into high gear this week with some of the biggest U.S. banks and the leading streaming company slated to report. More than 35 S & P 500 companies are on deck to post their latest quarterly figures, including Goldman Sachs, Bank of America and Morgan Stanley. Netflix is waiting in the wings. The reporting period got off to a rough start on Friday. JPMorgan Chase posted better-than-expected results, but concerns around net interest income pressured the stock. So far, about 30 S & P 500 names have posted first-quarter numbers. Of those, 80% have exceeded expectations,…

Wells Fargo reported better-than-expected earnings results on Friday, but some weakness under the hood is putting a lid on the bank’s stock. Stay the course: Shares should move higher as management continues to shake off regulatory punishments for past misdeeds. Total revenue for the three months ended Mar. 31 ticked up less than 1% over last year, to $20.86 billion, exceeding analysts’ expectations of $20.2 billion, according to LSEG. Adjusted earnings of $1.26 per share was nicely above Wall Street’s consensus estimate of $1.11 per share, LSEG data showed. Note: The $1.26 EPS excludes a 6-cent per share ($284 million…

JPMorgan Chase on Friday posted profit and revenue that topped Wall Street estimates as credit costs and trading revenue came in better than expected. Here’s what the company reported compared with estimates from analysts surveyed by LSEG, formerly known as Refinitiv: Earnings: $4.44 per share, vs. $4.11 expected Revenue: $42.55 billion, vs. $41.85 billion expected The bank said first-quarter profit rose 6% to $13.42 billion, or $4.44 per share, from a year earlier, boosted by its takeover of First Republic during the regional banking crisis last year. Per-share earnings would’ve been 19 cents higher excluding a $725 million boost to…

Citigroup on Friday posted first-quarter revenue that topped analysts’ estimates, helped by better-than-expected results in the bank’s investment banking and trading operations. Here’s how the company performed, compared with estimates from LSEG, formerly known as Refinitiv: Earnings: $1.86 per share, adjusted, vs. $1.23 expected Revenue: $21.10 billion vs. $20.4 billion expected The bank said profit fell 27% from a year earlier to $3.37 billion, or $1.58 a share, on higher expenses and credit costs. Adjusting for the impact of FDIC charges as well as restructuring and other costs, Citi earned $1.86 per share, according to LSEG calculations. Revenue slipped 2%…

Wells Fargo on Friday reported first-quarter earnings and revenue that beat Wall Street expectations, despite a decline in net interest income. Here’s how the company performed compared with what Wall Street was anticipating, based on a survey of analysts by LSEG, formerly known as Refinitiv: Earnings per share: $1.26 cents adjusted vs. $1.11 cents expected Revenue: $20.86 billion vs. $20.20 billion expected Shares of Wells traded flat Friday following the earnings report. Wells said its net interest income, a key measure of what a bank makes on lending, decreased 8% in the quarter, due to the impact of higher interest…

TSMC displayed on a phone screen and microchip and are seen in this illustration photo taken in Krakow, Poland on July 19, 2023 Jakub Porzycki | Nurphoto | Getty Images Taiwan Semiconductor Manufacturing Co. (TSMC), posted a surge in monthly revenue in March, as it cashed in on a continuing artificial intelligence boom powered by high-end chips. TSMC said March revenue came in at 195.2 billion new Taiwan dollars ($6.1 billion), up 34.3% year-on-year — marking the fastest pace of growth since November 2022. The company’s first-quarter revenue totaled 592.6 billion new Taiwan dollars, up 16.5% year-on-year. TSMC is the…

Pictured here is a Foxconn factory in Zhengzhou city on Sept. 4, 2021. Vcg | Visual China Group | Getty Images Apple iPhone manufacturer Foxconn on Friday posted a dip of 9.6% in revenue for the first quarter of 2024, compared with the same period last year. The company, which trades as Hon Hai Precision Industry in Taiwan, recorded first-quarter revenue of 1.32 trillion New Taiwan dollars ($41.2 billion), which was also 28.58% lower compared with the fourth quarter of last year. It was also below economists’ expectations in a poll by LSEG, formerly known as Refinitiv. The company still…

Charles McManus, CEO of ClearBank, speaks at the Innovate Finance Global Summit in April 2023. Chris Ratcliffe | Bloomberg | Getty Images ClearBank, a British financial technology firm powering payments for the likes of Coinbase, scored its first full year of profit after higher interest rates helped drive a 91% jump in revenue. The firm swung to an £18.4 million ($23.3 million) pretax profit in the year ended Dec. 31, 2023, according to financial statements released Thursday. That’s up from a £7.1 million loss in 2022. The bank first reached profitability on a monthly basis in November 2022. This is…

Levi Strauss, which has long relied on wholesalers like Macy’s and Kohl’s to drive its business, is now doing nearly half of its sales through its own website and stores, the company said Wednesday when reporting fiscal first-quarter earnings.  In the three months ended Feb. 25, direct-to-consumer sales made up a record 48% of overall sales at Levi’s, up from 42% in the year-ago period and 25% higher on a two-year basis, the retailer said.  The shift is a boon for Levi’s profits. But it raises questions about the company’s relationships with its wholesale partners and whether it will hurt…

Huawei brought one of the largest displays to Mobile World Congress in Barcelona in February 2024. Sopa Images | Lightrocket | Getty Images BEIJING — Chinese telecommunications company Huawei said Friday its net profit for 2023 more than doubled thanks to better product offerings. The company also attributed the profit gains to revenue growth of 9.6% year-on-year to 704.2 billion yuan ($99.18 billion). Net profit grew by 144.5% year-on-year to 87 billion yuan. Higher quality operations and sales of some businesses contributed to profitability as well, according to Huawei. The telecommunications company made a comeback in the smartphone market in…

A person rides past a Walgreens truck, owned by the Walgreens Boots Alliance, Inc., in Manhattan, New York City, U.S., November 26, 2021.  Andrew Kelly | Reuters Walgreens on Thursday reported fiscal second-quarter sales that beat Wall Street’s expectations, but lowered the high end of its full-year adjusted earnings outlook in part due to a “challenging” retail environment in the U.S. The company also posted a steep net loss for the quarter as it recorded a hefty nearly $6 billion charge related to the decline in value of its investment in primary-care provider VillageMD. Walgreens has been closing dozens of VillageMD…

HONG KONG, CHINA – 2021/08/07: Pedestrians cross the street in front of the Swedish multinational clothing design retail company Hennes & Mauritz, H&M, store in Hong Kong. (Photo by Budrul Chukrut/SOPA Images/LightRocket via Getty Images) Sopa Images | Lightrocket | Getty Images Shares of H&M leapt 14% in early deals on Wednesday, after the Swedish retailer significantly beat profit expectations for its fiscal first quarter. Operating profit rose to 2.08 billion Swedish kronor ($196 million), versus the 1.43 billion kronor forecast in a poll of analysts by LSEG, formerly known as Refinitiv. The company’s operating margin rose to 3.9% from 1.3%,…

A GameStop location on 6th Avenue in New York on March 23, 2021. View Press | Corbis News | Getty Images GameStop said on Tuesday it had cut an unspecified number of jobs to reduce costs and reported lower fourth-quarter revenue amid rising competition from e-commerce firms and weak consumer spending in an uncertain economy. Shares of the Grapevine, Texas-based company tumbled 17% in extended trade after the results. Soft consumer spending has weighed on the gaming market over the past few months, with U.S. videogame publishers Take-Two Interactive Software and Electronic Arts reporting earnings below estimates last month. GameStop…

Lululemon on Thursday reported holiday earnings that topped expectations, but the athletic apparel retailer’s guidance came in below estimates as its growth in North America stagnates. Here’s how the company did in its fourth fiscal quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG, formerly known as Refinitiv: Earnings per share: $5.29 vs. $5.00 expected Revenue: $3.21 billion vs. $3.19 billion expected The company’s reported net income for the three-month period that ended Jan. 28 was $669.5 million, or $5.29 per share, compared with $119.8 million, or 94 cents per share, a year…

Nike‘s China sales continued to slow during its holiday quarter, but the retailer beat estimates on the top and bottom line, helped by better than expected growth in North America and price changes. Here’s how the company performed in its fiscal 2024 third quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG, formerly known as Refinitiv: Earnings per share: 77 cents vs. 74 cents expected Revenue: $12.43 billion vs. $12.28 billion expected The company’s reported net income for the three-month period that ended Feb. 29 was $1.17 billion, or 77 cents per share,…

The Micron Technology headquarters in Boise, Idaho, on March 28, 2021. Jeremy Erickson | Bloomberg | Getty Images Shares of Micron popped more than 14% in extended trading on Wednesday after the company announced second-quarter fiscal 2024 results that beat analysts and offered rosy guidance. The company, which makes memory and storage for computers, said it has benefitted from the artificial intelligence boom. Here’s how the company did: Earnings per share: 42 cents adjusted vs. 25 cent loss expected by LSEG, formerly known as Refinitiv. Revenue: $5.82 billion vs. 5.35 billion expected by LSEG. Micron said revenue rose to $5.82 billion…

MariBank, Singapore tech giant Sea Group’s digital bank, has launched in Singapore to select members of the public as it rolls out its services progressively. Rafael Henrique | Sopa Images | Lightrocket | Getty Images Southeast Asian tech giant Sea Limited on Monday posted its first profitable year amid efforts to defend market share against Alibaba-owned Lazada and TikTok. Net income in 2023 was $162.7 million, as compared to a net loss of $1.7 billion in 2022. There was a net loss of $111.6 million in the fourth quarter of 2023, as compared to net income of $422.8 million in…

Shares of Amer Sports, the maker of Wilson tennis rackets and Lousiville Slugger baseball bats, fell on Tuesday after the company reported strong sales in China but a slowdown in wholesale orders. Here’s how the newly public athletic company did in its fourth quarter. CNBC didn’t compare the results to Wall Street estimates because it’s the first earnings report since Amer Sports went public. Loss per share: 25 cents Revenue: $1.32 billion In the three months ended Dec. 31, the company reported a net loss of $94.9 million, or 25 cents per share, compared with $148.3 million, or 39 cents…

Adidas shoes are displayed at a DSW store on January 31, 2024 in Novato, California.  Justin Sullivan | Getty Images Adidas on Wednesday warned of a sales decline in its overstocked North American market in 2024, as the German sportswear brand continues to sell off its remaining Yeezy inventory. Currency-neutral sales in North America are expected to decline to a mid-single-digit rate in 2024, but are projected to notch mid-single-digit growth worldwide despite persistent “macroeconomic challenges and geopolitical tensions,” the company said. Adidas confirmed its 2023 operating profit came in at 268 million euros ($292.9 million) on the back of…

Workers at Foxconn factory campus in Longhua town, Shenzhen. 20JUL16 SCMP/Nora Tam (Photo by Nora Tam/South China Morning Post via Getty Images) South China Morning Post | South China Morning Post | Getty Images Apple supplier Foxconn has adopted a far more bullish outlook for this year, saying on Thursday that it expected a significant rise in revenue driven by booming demand for artificial intelligence servers. The upbeat tone comes after a forecast-beating 33% jump in net profit for the fourth quarter. It also contrasts sharply with remarks by Foxconn Chairman Young Liu in November that the world’s largest contract…

A sign inside a Dollar General store in Chicago. Jim Young | Reuters Dollar General forecast annual sales above Wall Street estimates on Thursday, banking on higher demand from inflation-hit customers buying groceries and essentials from the discount retailer’s stores. Shares of the company rose about 6% in early trading, after falling nearly 45% in 2023 on rising costs and stiff competition from bigger retailers. But higher prices and borrowing costs have prompted budget-conscious consumers to cook more meals at home, helping Dollar General record stronger footfall at its outlets as shoppers hunt for lower-margin, needs-based goods, over pricier general…

Construction workers are seen at a new condominium building project in Huerth, western Germany, on April 5, 2023. Ina Fassbender | Afp | Getty Images Shares of German property giant Vonovia fell 7% on Friday, shining a light on a deepening real estate crisis in Europe’s largest economy. The residential real estate company on Thursday reported an annual loss of 6.76 billion euros ($7.37 billion) for 2023, citing a decreasing valuation trend that “significantly weakened” over the course of the year. This was more than 10 times the size of the 669.4 million euros loss reported a year earlier, which…

Adobe CEO Shantanu Narayen speaks during an interview with CNBC on the floor of the New York Stock Exchange on Feb. 20, 2024. Brendan Mcdermid | Reuters Adobe shares tumbled as much as 11% in extended trading Thursday after the design software maker issued strong fiscal first-quarter results but came up slightly short on quarterly revenue guidance. Here’s how the company did, compared with estimates from analysts polled by LSEG, formerly known as Refinitiv: Earnings per share: $4.48 adjusted vs. $4.38 expected Revenue: $5.18 billion vs. $5.14 billion expected Adobe’s revenue grew 11% year over year in the quarter, which ended March…

Dick’s Sporting Goods logo is seen on the shop in Williston, United States on June 19, 2023.  Jakub Porzycki | Nurphoto | Getty Images Dick’s Sporting Goods raised its dividend by 10% on Thursday as the company posted its largest sales quarter in its history and projected another year of growth. Many retailers benefited from a 53rd week in fiscal 2023, but Dick’s said it still broke records during its fiscal fourth quarter even without those extra days. Here’s how the athletic apparel retailer did compared with what Wall Street was anticipating, based on a survey of analysts by LSEG,…

Gary Philbin, CEO, Dollar Tree Scott Mlyn | CNBC Dollar Tree missed market expectations for holiday-quarter sales and profit on Wednesday and laid out plans to shutter 970 of its Family Dollar stores, as the retailer looks to revamp the struggling business. Shares of the company fell 14% before the bell after it also projected 2024 sales and profit below expectations. Dollar stores have struggled following a shift in consumer spending to lower-margin essentials from higher-margin discretionary goods. They also face stiff competition from rivals such as Walmart and Chinese e-commerce platform Temu. “Our biggest problem right now is getting…

Shopper carrying two large shopping bags from the clothing retailer Zara on Oxford Street on 5th February 2024 in London, United Kingdom. Oxford Street is a major retail centre in the West End of the capital and is Europes busiest shopping street with around half a million daily visitors to its approximately 300 shops, the majority of which are fashion and high street clothing stores. (photo by Mike Kemp/In Pictures via Getty Images) Mike Kemp | In Pictures | Getty Images Shares of Zara owner Inditex hit record highs on Wednesday according to LSEG data, climbing by over 6% during…

The chief executive of Denmark’s Lego on Tuesday reflected on a tough year for the world’s largest toymaker, and outlined the firm’s long-term plans to stay relevant and “cool with kids.” Lego said its 2023 revenue was 2% higher compared to the previous year, growing to 65.9 billion Danish krone (around $9.65 billion). This was in line with expectations, Lego said in a statement. “It was a difficult year,” Lego CEO Niels Christiansen told CNBC. However, he said the company had “managed to take quite a bit of market share.” The Danish toymaker said operating profit declined slightly from 17.9 billion…

The Porsche Mission X on display at the IAA Mobility 2023 show in Munich, Germany. Arjun Kharpal | CNBC Porsche on Tuesday warned that profitability will decline this year as it launches new models amid tough economic conditions, but hiked its dividend on the back of a rise in 2023 operating profit. The German luxury automaker said it expects an operating return on sales of between 15% and 17% in 2024, down from the 18% margin notched in 2023 and 2022. In the long term, the group targets an operating return on sales of more than 20%. Explaining the more…

Larry Ellison, co-founder and executive chairman of Oracle Corp., speaks during the Oracle OpenWorld conference in San Francisco on Oct. 22, 2018. David Paul Morris | Bloomberg | Getty Images Oracle reported quarterly earnings on Monday that exceeded Wall Street’s expectations. Shares rose 13% in extended trading. Here’s how the company did in the fiscal third quarter ending Feb. 29, compared to estimates by LSEG, formerly known as Refinitiv: Earnings per share: $1.41 adjusted vs. $1.38 expected Revenue: $13.28 billion vs. $13.3 billion expected For the fiscal fourth quarter, Oracle said it expects earnings of $1.62 to $1.66 per share.…

George Kurtz, co-founder and CEO of CrowdStrike, during a Bloomberg Technology television interview at the RSA Conference in San Francisco on April 26, 2023. David Paul Morris | Bloomberg | Getty Images CrowdStrike shares surged as much as 21% in after-hours trading Tuesday after the cybersecurity company reported a beat on the top and bottom lines, plus issued stronger-than-expected guidance for the upcoming quarter and full year. Here’s how the company did compared to consensus estimates based on a survey of analysts by LSEG, formerly known as Refinitiv: Earnings per share: 95 cents adjusted vs. 82 cents expected Revenue: $845 million vs.…

The New York Stock Exchange with a Hims & Hers Health banner is pictured in the Manhattan borough of New York City on Jan. 21, 2021. Carlo Allegri | Reuters Hims & Hers Health, the online provider of treatments for erectile dysfunction and hair loss, had its best day on the stock market since its debut three years ago after quarterly results beat estimates and the company said it expects to deliver its first full year of profitability in 2024. Shares of Hims & Hers closed up 31% to $13.43 as of Tuesday afternoon. They’re now up more than 50%…

Mannequins display men’s suits inside a Hugo Boss showroom. Bloomberg | Bloomberg | Getty Images Shares of Hugo Boss plunged 13% Thursday, after warning that it may fail to meet its 2025 sales target amid weakening consumer demand. The German high-end fashion brand was on course for its worst trading day since 2016, after it said it expects sales to grow more slowly in the coming year despite reaching 4.2 billion euros ($4.6 billion) in 2023 — an increase of 18% on the previous year. CEO Daniel Grieder told CNBC on Thursday that 2023 was a “record year,” but signaled…

American Eagle on Thursday announced a new strategy to boost profitable growth over the next three years, as the retailer said it wrote off $94 million in impairment charges related to its internal logistics business Quiet Platform. The company also reported holiday earnings that beat Wall Street’s expectations thanks to strong demand and lower markdowns and input costs.  Shares closed 2% lower Thursday. Here’s how American Eagle did in its fourth fiscal quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG, formerly known as Refinitiv: Earnings per share: 61 cents adjusted vs. 50…

Victoria’s Secret & Co. at the New York Stock Exchange, September 7, 2021. Source: NYSE Victoria’s Secret shares plunged about 29% premarket on Thursday after the lingerie brand forecast weaker annual sales following a sluggish start to the year as shoppers in its key North America market switch to cheaper options. The company, popular for its PINK brand of intimates, forecast fiscal 2024 net sales of $6 billion, indicating a third annual sales dip in a row, below LSEG estimates of $6.14 billion. “Broader intimates market in North America will remain pressured throughout the first and second quarter, with sales trends improving throughout the back half of 2024,” the company said…

A general view of an Old Navy store.  Gap Inc. Gap’s largest banner Old Navy returned to growth for the first time in more than a year during its holiday quarter as the retailer delivered earnings on Thursday that came in well ahead of Wall Street’s expectations.  Sales at Old Navy grew 6% to $2.29 billion, and Gap’s overall gross margin surged 5.3 percentage points to 38.9% thanks to fewer markdowns and lower input costs. Analysts had expected a gross margin of 36%, according to StreetAccount.  Shares of Gap jumped about 5% in extended trading following the report. Here’s how…

The Marvell Technology Group Ltd. headquarters building stands in Santa Clara, California, U.S., on Tuesday, Feb. 8, 2011.  David Paul Morris | Bloomberg | Getty Images Marvell Technology forecast first-quarter results below market expectations on Thursday, hurt by weak demand for its custom chips used in artificial intelligence applications, sending the company’s shares down about 8% in extended trade. The company had flagged in November that it expects roughly half its revenue to decline in the first quarter, weighed down by weak demand in its wireless carrier and enterprise markets. “While we are forecasting soft demand impacting consumer, carrier infrastructure,…

Mandel Ngan | Afp | Getty Images Costco on Thursday missed Wall Street’s revenue expectations for its holiday quarter, despite reporting year-over-year sales growth and strong e-commerce gains. Shares of the retailer fell about 4% in aftermarket trading. The retailer’s stock had hit a 52-week high earlier in the day. Here’s what the retailer reported for its fiscal second quarter of 2024 compared with what Wall Street was expecting, based on a survey of analysts by LSEG, formerly known as Refinitiv: Earnings per share: $3.92 vs. $3.62 expected Revenue: $58.44 billion vs. $59.16 billion expected In the three-month period that…

Shares of Teleperformance plunged 20% on Thursday, after the French call center and office services group missed its full-year revenue target and flagged a “volatile economic environment.” Investors have been spooked by the potential impact of artificial intelligence on its business model, as companies become more able to tap into the technology directly for their own benefit. Teleperformance shares dropped 16% last week, according to LSEG data, after Swedish financial services company Klarna said its Open AI-powered customer service assistant was handling two-thirds of customer service calls. But Teleperformance CEO Daniel Julien on Thursday said that AI would be a…

Abercrombie & Fitch said Wednesday that its holiday-quarter sales jumped 21% and its profit grew thanks to higher prices and lower raw material costs. The apparel retailer expects its growth story will continue as it issued better-than-expected sales guidance. Here’s how Abercrombie did in its fiscal fourth quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG, formerly known as Refinitiv: Earnings per share: $2.97 vs. $2.83 expected Revenue: $1.45 billion vs. $1.43 billion expected The company’s reported net income for the three-month period that ended Feb. 3 was $158.4 million, or $2.97 per…

Shares of Foot Locker fell in premarket trading Wednesday after the sneaker retailer reported a holiday-quarter loss, issued weak guidance for the current year and said it’s behind on meeting its financial goals. Given how poorly its past fiscal year went, the company is now expecting the profitability goal it laid out during its March 2023 investor day to be delayed by two years, Foot Locker’s finance chief Mike Baughn said. It now expects to reach an EBIT margin of 8.5% to 9% by 2028, said Baughn. Here’s how the company did in its fourth fiscal quarter, compared with estimates…

Shoppers exit the Nordstrom at the Westfield Topanga mall in Los Angeles on Aug. 14, 2023. Christina House | Los Angeles Times | Getty Images Nordstrom’s holiday-quarter sales topped Wall Street’s expectations on Tuesday, but the retailer gave a muted outlook for the year ahead, and shares fell about 10% in extended trading. The Seattle-based company said it plans to open new Nordstrom Rack stores and drive higher online and in-store sales in the coming year. Yet, it said full-year revenue, including retail sales and credit cards, will range from a 2% decline to a 1% gain compared with the…

Target on Tuesday posted holiday-quarter revenue and earnings that topped Wall Street’s expectations, but the company said it expects another year of weak sales.  The Minneapolis-based retailer’s shares jumped about 8% in premarket trading as it showed progress in boosting profits and margins. Even so, Target’s comparable sales declined for the third quarter in a row. The key metric, which includes digital sales and takes out the impact of store openings, closures and renovations, fell 4.4% in the fiscal fourth quarter.  Target doesn’t anticipate sales will bounce back quickly. For the current quarter, Target said it expects comparable sales to…

Shares of Novavax closed more than 20% lower on Wednesday after the vaccine maker reported fourth-quarter revenue and earnings that missed Wall Street’s estimates and said it expects full-year 2024 sales to come in flat or lower than last year. Still, Novavax narrowed its losses in the quarter from the same period a year ago, even as demand for the biotech company’s Covid vaccine – its only marketable product – and other shots and treatments that combat the virus continue to plummet worldwide.  Here’s what Novavax reported for the fourth quarter compared with what Wall Street was expecting, based on…

Paramount Global missed revenue expectations for the fourth quarter on Wednesday but posted a surprise quarterly profit and posted strong results from its streaming platform Paramount+. Here’s how Paramount performed in the fourth quarter compared to Wall Street estimates from LSEG, formerly known as Refinitiv: Earnings per share: 4 cents vs. an expected loss of 1 cent Revenue: $7.64 billion vs. $7.85 billion expected For the last three months of 2023, Paramount reported a profit of $514 million, or 77 cents per share, up from $21 million, or 1 cent per share, the year prior. Adjusted for one-time items, earnings…

TJX Cos. on Wednesday said holiday sales jumped 13% as shoppers hunting for deals flocked to the off-price retailer. Despite the strong quarter and end to its fiscal year, the company issued guidance that came in light of Wall Street’s expectations as it prepares for tougher comps in the year ahead and an uncertain growth trajectory. Here’s how TJX did in its fiscal fourth quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG, formerly known as Refinitiv: Earnings per share: $1.22 vs. $1.12 expected Revenue: $16.41 billion vs. $16.21 billion expected For the…

Frank Slootman, CEO of Snowflake, on the day of the company’s initial public offering on Sept. 16, 2020. CNBC Snowflake said on Wednesday that billionaire CEO Frank Slootman, who joined the cloud software company in 2019 and took it public the following year, is retiring and will be replaced by former Google ad chief Sridhar Ramaswamy. Shares of Snowflake plunged 24% in extended trading. Slootman, 65, previously led software vendor ServiceNow into the public markets and before that, led Data Domain. But Snowflake was his biggest endeavor and became the largest software initial public offering ever when it hit the…

Bud Light, made by Anheuser-Busch. Joe Raedle | Getty Images Hiking beer prices led Budweiser owner Anheuser-Busch InBev to profit and revenue growth last year, even U.S. sales of staple brand Bud Light were curbed by boycott action. The world’s biggest brewer on Thursday recorded annual revenue of $59.38 billion, up 7.8%, but shy of analyst expectations of $60.48 billion, according to an LSEG-compiled consensus. Volumes sold fell by 1.7%, with beer brands declining by 2.3%. Core profit (EBITDA) rose 7% annually to nearly $20 billion, also just under a forecast of $20.1 billion. Belgium-listed shares dipped 0.2% in early…

A view of iQiyi’s website featuring a variety TV show, taken on Tuesday, Aug. 22, 2023. Bloomberg | Bloomberg | Getty Images BEIJING — Chinese video content and streaming company iQiyi CFO Wang Jun said he is “excited” about potential new business opportunities with the emergence of OpenAI’s text-to-video tool Sora. Speaking exclusively to CNBC on Thursday, Wang said such tools can help iQiyi tell stories more creatively, and that internally, it is exploring the text-to-video space though it is not working with Sora. But Wang indicated the tech’s capabilities aren’t yet necessarily able to offer people what they want.…

Matthew Busch | Bloomberg | Getty Images Shares of Dell Technologies popped more than 15% during extended trading Thursday after the company released fourth-quarter results that beat analysts’ estimates and showed strong demand for its artificial intelligence servers. Here’s how the company did: Earnings per share: $2.20 adjusted vs. $1.73 expected by LSEG, formerly known as Refinitiv Revenue: $22.32 billion vs. $22.16 billion expected by LSEG Dell’s revenue for the fiscal 2024 fourth quarter fell 11% from $25.04 billion in the year-ago quarter. The company reported net income $1.16 billion, up 89% from the $614 million it posted in the…

Supply chain disruptions are causing a production backlog at the world’s largest truckmaker, Daimler Trucks. Bloomberg | Getty Images Shares of Daimler Truck hit a fresh all-time high Friday, spiking more than 13.5% in early deals, after posting record full-year profit and announcing a 2 billion euro ($2.16 billion) share buyback program. The German truck maker posted better-than-expected pre-tax earnings of $5.5 billion euros for 2023, up 39% on the previous year’s 4.4 billion. Analysts had expected EBIT (earnings before income tax) of 5.2 billion. The company also said it would conduct the buyback program over the course of the…

People walk past a Best Buy store in Manhattan, New York City, November 22, 2021. Andrew Kelly | Reuters Best Buy surpassed Wall Street’s revenue and earnings expectations for the holiday quarter on Thursday, even as the company navigated through a period of tepid consumer electronics demand. But the retailer warned of another year of softer sales and said it would lay off workers and cut other costs across the business. CEO Corie Barry offered few specifics, but said the company has to make sure its workforce and stores match customers’ changing shopping habits. Cuts will free up capital to…

Employee Mo Soto arranges a shelf at a Birkenstock store on October 10, 2023 in Venice, California.  Ethan Swope | Getty Images Birkenstock on Thursday beat holiday quarter revenue expectations, reporting a 26% year-on-year jump, as the German sandal company benefited from higher pricing and rising U.S. demand. Here’s how the shoemaker did in its first fiscal quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG, formerly known as Refinitiv: Earnings per share: 4 euro cents vs. 9 euro cents expected Revenue: 303 million euros vs. 288.7 million euros expected. The company’s gross…

Marc Benioff, co-founder and CEO of Salesforce, speaks on a panel session at the World Economic Forum in Davos, Switzerland, on Jan. 18, 2024. Stefan Wermuth | Bloomberg | Getty Images Salesforce shares initially slid as much as 6% but then went up 1% in extended trading Wednesday after the business software maker issued a light revenue forecast for the new fiscal year. It will start paying a dividend at 40 cents per share. Here’s how the company did, compared with estimates from LSEG, formerly known as Refinitiv: Earnings per share: $2.29 adjusted vs. $2.26 expected Revenue: $9.29 billion vs.…

An Electron rocket launches the Baby Come Back mission from New Zealand on July 17, 2023. Rocket Lab Rocket Lab is making steady progress on the development of its Neutron vehicle, as the company reported fourth-quarter results that saw its contract backlog soar above $1 billion. The space company reported a net loss of $50.5 million, or 10 cents per share, for the quarter. Year over year, Rocket Lab’s fourth-quarter net loss widened by about 36% as the company continues to spend heavily to create its Neutron rocket. Its full-year loss widened by a similar amount, to $182.6 million, or…

The Macy’s logo is seen at its store in Herald Square in New York City on Jan. 19, 2024. Michael M. Santiago | Getty Images Macy’s on Tuesday said sales fell nearly 2% in the holiday quarter, as the 166-year-old department store operator unveiled its strategy to get back to growth.  Here’s what Macy’s reported for the fourth quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG, formerly known as Refinitiv: Earnings per share: $2.45 adjusted vs. $1.96 expected Revenue: $8.12 billion vs. $8.15 billion expected Macy’s — which includes its namesake banner,…

The Lowe’s logo is displayed on the front of the store near Bloomsburg. Paul Weaver | Lightrocket | Getty Images Lowe’s on Tuesday beat Wall Street’s quarterly earnings and revenue estimates, even as the company continued to see customers tackle fewer home projects. The home improvement was going up against lower expectations for its fourth quarter. It had cut its full-year forecast in November, after CEO Marvin Ellison said the company had felt a “greater-than-expected pullback” on pricier items and discretionary home projects. Lowe’s said it factored economic uncertainty into its forecast for the current fiscal year, too. It said…

Eric Yuan, founder and CEO of Zoom Video Communications, stands before the opening bell during the company’s initial public offering at the Nasdaq MarketSite in New York on April 18, 2019. Victor J. Blue | Bloomberg | Getty Images Zoom shares rose as much as 13% in extended trading on Monday after the video chat software vendor announced fiscal fourth-quarter results that topped analysts’ expectations. Here’s how the company did, compared with consensus among analysts polled by LSEG, formerly known as Refinitiv: Earnings per share: $1.22 adjusted vs. $1.15 expected Revenue: $1.15 billion vs. $1.13 billion expected Revenue increased less…

Warren Buffett ahead of the Berkshire Hathaway Annual Shareholder’s Meeting in Omaha, NE. David A. Grogan | CNBC Berkshire Hathaway on Saturday reported a big rise in operating earnings in the fourth quarter, thanks to huge gains in its insurance business, while its cash pile expanded to record levels. The Omaha-based conglomerate posted operating earnings — which refers to profits from businesses across insurance, railroads and utilities — of $8.481 billion in the quarter ending December. That’s 28% above the $6.625 billion from the year-ago period. For the full year 2023, that brought operating earnings up to $37.350 billion, up…

A attendee walks past a banner with a Grab logo before a bell-ringing ceremony as Grab begins trading on the Nasdaq, in Singapore, on Thursday, Dec. 2, 2021. Ore Huiying | Bloomberg | Getty Images SINGAPORE — Grab posted its first-ever profitable quarter, raking in $11 million in profit, the Southeast Asian ride-hailing giant said in its fourth-quarter earnings report Thursday. This compares with a $391 million loss recorded in the same period a year ago. The boost was “primarily due to the improvement in Group adjusted EBITDA, fair value changes in investments, and lowered share-based compensation expenses,” the company…

A Carvana glass tower sits illuminated in Oak Brook, Illinois, Feb. 23, 2022. Armando L. Sanchez | Tribune News Service | Getty Images Carvana reported its first-ever annual profit on Thursday, helped by its pact with bondholders to cut its outstanding debt by $1 billion, sending the used car retailer’s stock up by a fifth in after-hours trading. The company also forecast an adjusted core profit for the first quarter “significantly above” $100 million. Carvana became popular during the Covid-19 pandemic when demand for used cars shot up because a global chip crunch squeezed production of new cars. After that,…

Joachim Nagel, president of Deutsche Bundesbank, during the central bank’s “Annual Report 2023” news conference in Frankfurt, Germany, on Friday, Feb. 23, 2024.  Bloomberg | Bloomberg | Getty Images Losses incurred by the German central bank rocketed into the tens of billions in 2023 due to higher interest rates, requiring it to draw on the entirety of its provisions to break even. The Bundesbank on Friday reported an annual distributable profit of zero, after it released 19.2 billion euros ($20.8 billion) in provisions for general risks, and 2.4 billion euros from its reserves. That leaves it with just under 700 million…

The exterior of the Warner Bros. Discovery Atlanta campus is pictured after the Writers Guild of America began its strike against the Alliance of Motion Pictures and Television Producers, in Atlanta, Georgia, on May 2, 2023. Alyssa Pointer | Reuters Warner Bros. Discovery missed analyst targets for both profit and revenue in the fourth quarter as advertising slumped and the company failed to provide free cash flow guidance for 2024. Shares of Warner Bros. Discovery closed down 10% on Friday after the report. The company’s fourth-quarter net loss was $400 million, or 16 cents per share, compared with a loss of…

Jack Dorsey, co-founder and chief executive officer of Twitter Inc. and Square Inc., listens during the Bitcoin 2021 conference in Miami, Florida, on Friday, June 4, 2021. Eva Marie Uzcategui | Bloomberg | Getty Images Block stock closed up 16% Friday, a day after the payments company reported fourth-quarter earnings that beat analysts’ estimates on gross profit and showed strong growth in its Square and Cash App revenue. Here’s how the company did, compared to analysts’ consensus from LSEG, formerly known as Refinitiv: Earnings per share: 45 cents adjusted, not comparable to estimates Revenue: $5.77 billion vs. $5.70 billion expected…

Standard Chartered on Friday rewarded shareholders with dividends and a fresh $1 billion buyback as profit rose 18%, but set out modest growth forecasts that will concern investors amid worries about global banks’ exposure to China. The bank reported 2023 statutory pre-tax profit rose to $5.09 billion, in line with forecasts, and announced a jump in dividends alongside the buyback. But the Asia-focused lender set out restrained new guidance, saying it expected income to grow at the higher end of 5-7% in 2024, lower than the previous estimate of 8-10% given last October. The lender booked 13% income growth in…

Nikos Pekiaridis | Nurphoto | Getty Images Shares of Moderna closed roughly 13% higher Thursday after the company posted a surprise quarterly profit, boosted by deferred revenue and cost cuts, even as it saw slumping sales from its Covid vaccine, its only marketable product. The results cap a rocky year for the biotech company and other Covid vaccine makers, which all saw revenue plunge as the world continued to emerge from the pandemic and relied less on protective shots and treatments. Here’s what Moderna reported for the fourth quarter compared with what Wall Street was expecting, based on a survey of…

Mercedes-AMG GT 43 4MATIC+ on display at Brussels Expo on January 9, 2020 in Brussels, Belgium.  Sjoerd Van Der Wal | Getty Images News | Getty Images Mercedes-Benz shares gained around 5% on Thursday morning after the German carmaker beat fourth-quarter earnings expectations and announced a new share buyback program, despite warning of “exceptional” risks in the year ahead. Fourth-quarter earnings before interest and taxation (EBIT) came in at 4.33 billion euros ($4.7 billion), slightly ahead of consensus expectations, taking the full-year figure to 19.66 billion euros. Revenues rose 2% in 2023 to 153.2 billion euros from 150 billion the…

Jensen Huang, CEO of Nvidia, arrives for the Inaugural AI Insight Forum in the Russell Building on Capitol Hill on Sept. 13, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images Nvidia reported fourth fiscal quarter earnings that beat Wall Street’s forecast for earnings and sales, and said revenue during the current quarter would be better than expected, even against elevated expectations for massive growth. Nvidia shares rose about 10% in extended trading. Here’s what the company reported compared with what Wall Street was expecting for the quarter ending in January, based on a survey of analysts by LSEG,…

Customers use automated teller machines (ATM) at an HSBC Holdings Plc bank branch at night in Hong Kong, China, on Saturday, Feb 16, 2019. Anthony Kwan | Bloomberg | Getty Images HSBC‘s full-year 2023 pretax profit missed analysts’ estimates on Wednesday, hit by impairment costs linked to the lender’s stake in a Chinese bank, sinking its London-listed shares as much as 7%. Europe’s largest bank by assets saw its pre-tax profit climb about 78% to a record $30.3 billion in 2023 from a year ago, according to its statement released Wednesday during the mid-day trading break in Hong Kong. That…

A SolarEdge Technologies logo is seen on a smartphone and a PC. Pavlo Gonchar | SOPA Images | LightRocket | Getty Images SolarEdge‘s stock tumbled Tuesday after the company gave weak guidance for the first quarter, as the residential solar market continues to face headwinds from high interest rates and depressed demand. SolarEdge expects revenues of $175 million to $215 million for the first three months of 2024, well below Wall Street’s expectations of $406 million. The company shares fell as much as 23% in extended trading. Here’s what SolarEdge reported for the fourth quarter compared with what Wall Street…

The logo of U.S. home improvement chain Home Depot is seen in Mexico City, Mexico January 15, 2020.  Luis Cortes | Reuters Home Depot on Tuesday said quarterly sales declined nearly 3% year over year, but it surpassed Wall Street’s earnings and revenue expectations despite the cooler demand. The home improvement retailer said it expects total sales to grow about 1% in fiscal year 2024, which includes an additional week. That compares with a 1.6% increase expected by Wall Street, according to StreetAccount. Home Depot also anticipates it will open about a dozen new stores during the year.  On a…

The Chicken Shack sandwich from Shake Shack. Shake Shack Stock Chart IconStock chart icon Shake Shack stock. Here’s how the company performed during the period, compared with estimates from LSEG, formerly known as Refinitiv: Earnings per share: 2 cents vs. 1 cent expected Revenue: $286.2 million vs. $280.3 million expected For the last three months of 2023, Shake Shack reported a net income of $6.8 million, up from a loss of $8.1 million the year prior. Earnings per share increased to a 15-cent profit from a 20-cent loss during the year-ago period. Adjusting for one-time items, Shake Shack reported earnings per share…

(L-R) United Auto Workers (U.A.W.) members Kaleb Delfine, Bryan Broecker, Michael Gatto and James Triplett picket outside the Jeep Plant on September 18, 2023 in Toledo, Ohio. Sarah Rice | Getty Images Global auto giant Stellantis on Thursday reported a 10% year-on-year fall in profit in the second half of 2023, as six-week strikes at the so-called Detroit Three automakers hampered production in the group’s North American profit epicenter. Adjusted operating income came in at 10.2 billion euros ($10.96 billion) for the July-to-December period, down from 11.3 billion euros for the same period in 2022. However, the earnings proved more…

Jeff Green, CEO, The Trade Desk Scott Mlyn | CNBC Shares of The Trade Desk jumped over 18% on Thursday after the advertising technology company issued strong first-quarter guidance and beat on revenue. Here’s what analysts were expecting: Earnings per share: 41 cents, adjusted vs. 43 cents expected by LSEG, formerly known as Refinitiv Revenue: $606 million vs. $582 million expected by LSEG Fourth-quarter sales jumped 23% from $491 million a year ago. Net income rose 37% to $97 million, or 19 cents a share, from $71 million, or 14 cents, in the same quarter a year earlier. The Trade Desk…

The logo of NatWest, a retail unit of RBS, outside a bank branch in London, U.K., on Tuesday, June 26, 2012. Simon Dawson | Bloomberg | Getty Images British bank NatWest confirmed Paul Thwaite as its permanent chief executive on Friday and reported forecast-beating profit for 2023, as it gears up for a crunch sale of state-owned stock in the company after a scandal-hit year. The taxpayer-backed lender reported pre-tax profit of 6.2 billion pounds ($7.81 billion) for the 12-month period, up 20% on 5.1 billion pounds the prior year and ahead of a 5.95 billion pounds average of analyst…

Swiss Re CEO Christian Mumenthaler gestures during a session of the World Economic Forum (WEF) annual meeting in Davos on January 18, 2024. Fabrice Coffrini | Afp | Getty Images Insurance giant Swiss Re on Friday reported a sharp upswing in full-year profit, benefitting from what it described as an attractive market environment after a “batch of bad years.” The Zurich-headquartered company posted full-year net profit of $3.2 billion, in line with expectations according to an LSEG-compiled consensus. It marked a nearly 580% increase when compared to the previous year’s $472 million profit. Swiss Re proposed a 6% increase in…

A sign is posted in front of the Roku headquarters on February 18, 2022 in San Jose, California. Justin Sullivan | Getty Images Roku dropped nearly 17% on Friday after the streaming service provider forecast a steeper-than-expected first-quarter loss, as it struggles to compete with heavyweights such as Netflix and Amazon for advertising dollars. The entry of streaming giants into an already competitive ad space has weighed on Roku’s business, with the shift from smart devices to smart televisions also denting demand for its devices. “Roku is at the precipice of being squeezed by the emergence of challengers on all flanks,”…

DraftKings on Thursday posted quarterly results that missed Wall Street estimates on the top and bottom line, but it increased its revenue by 44%. DraftKings CEO Jason Robins told CNBC on Friday that the quarter took a hit from unfavorable outcomes from the NFL games. “We had the worst two-week run of NFL outcomes we’ve had since we’ve been a public company,” Robins said. “The nature of the business when you’re taking risks on sports outcomes, you’re going to have customer friendly outcomes and it always kind of swings back over time.” Despite those challenges, Robins highlighted the company’s customer…

In this photo illustration, the Coinbase logo is seen displayed on a mobile phone screen.  Idrees Abbas | SOPA Images | Lightrocket | Getty Images Shares of cryptocurrency exchange Coinbase soared 12% Friday at 10:05 London time in U.S. premarket trading after the company reported its first profit in two years. Coinbase, the largest U.S. venue for buying and selling cryptocurrencies, said that net income totalled $273 million in the fourth quarter. This is the first time that the company has reported positive net income since the fourth quarter of 2021. Coinbase said Thursday that its net revenue was $905…

A screen displays the company logo for Toast Inc. during the company’s IPO at the New York Stock Exchange (NYSE) in New York City, U.S., September 22, 2021.  Brendan Mcdermid | Reuters Toast, maker of restaurant management software, said on Thursday it will let go of 550 employees, about 10% of its workforce. The company also reported fourth-quarter earnings that surpassed Wall Street’s expectations. Shares were initially up as much as 16% after hours but then gave back much of the gains. Here’s how the company did, compared with the consensus among analysts polled by LSEG, formerly known as Refinitiv:…

Shares of Renault climbed in morning trade on Thursday, after the French carmaker said it would propose raising its dividend per share to 1.85 euros ($1.99) for the financial year, up from 0.25 euros previously. Paris-listed shares were 6.9% higher at 9:27 a.m. London time. The company on Wednesday reported a full-year group operating margin of 7.9%, which comes in towards the top end of its prior guidance. The automaker reiterated its target of double-digit margins by 2030. Group revenue rose 13% to 52.4 billion euros, while net profit was slightly below forecasts, Reuters reported. The automaker is targeting a…

Chuck Robbins, Cisco CEO & Chairman, at the WEF in Davos, Switzerland on May 25th, 2022. Adam Galica | CNBC Cisco announced plans to cut 5% of its workforce on Wednesday, a decision that will result in the elimination of about 4,250 jobs. Shares were down as much as 9% in extended trading. It’s the latest tech company to downsize in 2024, as the industry continues to squeeze out costs following the market downturn that hit two years ago. January was the busiest month for job cuts in the industry since March, as Alphabet, Amazon, Microsoft and SAP all said they…

Sony aims to sell 18 million PlayStation 5 consoles in its financial year ending in March 2023. Thiago Prudencio | Lightrocket | Getty Images Sony cut its sales forecast for its flagship PlayStation 5 console on Wednesday, after warning of weaker transactions in its key gaming division. The Japanese gaming giant said it now expects to sell 21 million units of the PS5 in the fiscal year ending March, down from a previous forecast of 25 million units. The cut in outlook comes after Sony posted record quarterly revenue in the all-important December quarter which encompasses the holiday season. Sony…

Air travelers walk toward a Lyft pickup area at Los Angeles International Airport in Los Angeles on Aug. 20, 2020. Mario Tama | Getty Images Lyft shares initially soared in extended trading on Tuesday but pulled way back after the company’s finance chief acknowledged on an earnings call that the release included a major error. Here’s how the company did compared to estimates from analysts: Earnings per share: 18 cents adjusted vs. 8 cents estimated by analysts, according to LSEG, formerly Refinitiv. Revenue: $1.22 billion, vs. $1.22 billion expected by analysts, according to LSEG. Lyft finance chief Erin Brewer said…

Passengers board on the TUI bus at Palma de Mallorca airport on June 18, 2020 in Palma de Mallorca, Spain. Clara Margais | Getty Images German travel giant TUI on Tuesday posted a quarterly profit of 6 million euros ($6.46 million), defying expectations on the back of upbeat travel demand. The swing to profit vastly outstripped an analyst consensus forecast for a 102 million euro loss in underlying earnings before interest and taxation (EBIT), according to LSEG data. For the same quarter last year, Europe’s largest travel operator posted a 153 million euro net loss. The group’s fiscal first-quarter revenue…

Siemens Energy site in Muelheim an der Ruhr, Germany, August 3, 2022. Wolfgang Rattay | Reuters Siemens Energy swung to profit in its first fiscal quarter on the back of a surge in orders and a one-off gain from selling a stake in its Indian affiliate to parent company Siemens. The German renewables firm reported a 1.58 billion euro ($1.7 billion) net profit, driven by the sale of its 18% stake in India’s Siemens Limited for 2.1 billion euros. Siemens Energy posted a 23.9% year-on-year increase in orders to 15.4 billion euros, with a book-to-bill ratio of 2.01, pushing its…

Uber CEO Dara Khosrowshahi looks on during the APEC CEO Summit at Moscone West on November 15, 2023 in San Francisco, California. Justin Sullivan | Getty Images Uber reported fourth-quarter results Wednesday that beat analysts’ estimates on the top and bottom lines. Shares of Uber closed mostly flat Wednesday. Here’s how the company did: Earnings per share: 66 cents vs. 17 cents expected by LSEG, formerly known as Refinitiv. Revenue: $9.94 billion vs. $9.76 billion expected by LSEG. Uber reported net income of $1.4 billion, or 66 cents per share, compared with $595 million, or 29 cents per share, in the same quarter last year. Uber’s net…

Alibaba is operating in Suqian City, Jiangsu Province, China, on December 29, 2023. Costfoto | Nurphoto | Getty Images Shares of Alibaba fell Wednesday, as the company missed market expectations for revenue in the December quarter, even as it announced it is increasing the size of its share buyback program by $25 billion. U.S.-listed shares in the Chinese e-commerce giant were are one point more than 5% higher in premarket trade, but reversed course and closed down more than 5%. Alibaba said the $25 billion increase is added to its share repurchase program through the end of March 2027, bringing…

CVS Health on Wednesday reported fourth-quarter revenue and adjusted earnings that topped expectations, but the company cut its full-year profit outlook, citing higher medical costs that are dogging the broader insurance industry. The company lowered its 2024 adjusted earnings forecast to at least $8.30 per share, down from a previous guidance of at least $8.50 per share. Analysts surveyed by LSEG were expecting full-year adjusted earnings of $8.49 per share.  CVS also cut its unadjusted earnings guidance to at least $7.06 per share, down from at least $7.26 per share.  The company said its new guidance follows a review of its…

KFC and Taco Bell restaurants along 118th Avenue in Edmonton, on January 21, 2024, in Edmonton, Alberta, Canada. Artur Widak | Nurphoto | Getty Images Yum Brands on Wednesday reported quarterly earnings and revenue that missed analysts’ expectations, noting the Israel-Hamas war hurt its sales. Yum is the third global restaurant giant to report disappointing revenue for the last three months of 2023. Starbucks and McDonald’s both missed Wall Street’s expectations, also citing the Israel-Hamas war among their head winds. “During the quarter, topline sales were impacted by the conflict in the Middle East region with varying degrees of impact across…

LOS ANGELES — The Walt Disney Company reported better-than-expected fiscal first-quarter earnings on Wednesday as the media giant slashed costs while revenue stagnated.  Disney said it is on pace to meet or exceed its goal of cutting costs by at least $7.5 billion by the end of fiscal 2024. The company said it expects fiscal 2024 earnings per share of about $4.60, which would be at least 20% higher than 2023.  Disney also announced it will take a $1.5 billion stake in Fortnite studio Epic Games and launch its flagship ESPN streaming service in fall 2025. The string of announcements, and…

The New York Stock Exchange welcomes executives and guests of Roblox in celebration of its direct listing, March 10, 2021. NYSE Roblox reported results for the fiscal fourth quarter Wednesday that beat consensus estimates on the top and bottom lines. Shares closed up more than 10%. Here’s how the company did: Losses per share: 52 cents vs. 55 cents expected by analysts, according to LSEG, formerly Refinitiv. Revenue (bookings): $1.13 billion vs. $1.08 billion expected, according to LSEG. The revenue figure is what Roblox calls bookings, a category that includes sales recognized during the quarter and deferred revenue.  The video…

Matthew Prince, co-founder and chief executive officer of Cloudflare Inc., during the Fortune Brainstorm AI conference in San Francisco, California, US, on Monday, Dec. 11, 2023. The conference gathers leaders in machine learning and artificial intelligence to assess the industry and examine new business cases for AI. Photographer: David Paul Morris/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty Images Cloudflare shares rose 21% in extended trading on Thursday after the web security and content distribution network provider issued results and quarterly guidance that proved more robust than analysts had projected. Here’s how the company did, in comparison with estimates…

A display for image sharing and social media service Pinterest is seen at the Collision conference in Toronto, Ontario, Canada June 23, 2022. Chris Helgren | Reuters Pinterest shares plummeted in extended trading on Thursday after the company issued a weaker-than-expected forecast and missed on revenue. Revenue: $981 million vs. $991 million expected, according to LSEG, formerly known as Refinitiv. Earnings: 53 cents per share, adjusted, vs. 51 cents per share expected, according to LSEG. Revenue rose 12% year-over-year from $877.2 million a year earlier, while net income was $201 million, or 29 cents a share, up from the $17.49…

A PayPal sign is seen at its headquarters in San Jose, California, on Jan. 30, 2024. Justin Sullivan | Getty Images News | Getty Images PayPal reported better-than-expected fourth-quarter results Wednesday, but issued guidance that was a bit below estimates. The shares slid 8% in extended trading. Here’s how the company did: Earnings per share: $1.48 adjusted vs. $1.36 expected by LSEG, formerly known as Refinitiv Revenue: $8.03 billion vs. $7.87 billion expected, according to LSEG Revenue increased 9% in the quarter from $7.38 billion a year earlier. The number of active accounts fell 2% to 426 million, trailing analyst…

Arm makes the CPU architecture for chips found in nearly all smartphones. An Arm chip is shown here in San Jose, California, on October 12, 2023. Sydney Boyo Arm reported fiscal third-quarter earnings that beat estimates and gave a strong profit forecast for the current quarter. The shares soared more than 20% in extended trading. Here’s how the company did versus LSEG consensus estimates for the quarter ending December: Revenue: $824 million, vs. $761 million expected EPS: 29 cents adjusted, vs 25 cents expected. Arm, whose chip design technology is in nearly every smartphone and many PCs, said it expects…

Snap Inc. co-founder and CEO Evan Spiegel speaks during the Viva Technology conference dedicated to innovation and startups, at the Porte de Versailles exhibition center in Paris, June 17, 2022. Benoit Tessier | Reuters Snap on Tuesday reported revenue that trailed analysts’ estimates and issued a forecast that came in a bit below Wall Street expectations. The stock plunged 30% in extended trading. Here’s how the company did: Earnings per share: 8 cents adjusted vs. 6 cents expected by analysts, according to LSEG, formerly known as Refinitiv Revenue: $1.36 billion vs. $1.38 billion expected, according to LSEG Global daily active…

Ford CEO Jim Farley at the company’s Dearborn, Michigan, plant where it’s building the electric F-150 Lightning on April 26, 2022. CNBC | Michael Wayland DETROIT — Ford Motor beat Wall Street’s top- and bottom-line expectations for the fourth quarter, while forecasting better-than-expected results for 2024. The company’s forecast for 2024 includes adjusted earnings before interest and taxes (EBIT) of between $10 billion and $12 billion, adjusted free-cash flow of $6 billion to $7 billion, and capital spending of $8 billion to $9.5 billion. Analysts forecast Ford’s guidance to be roughly between $9 billion and $11 billion, according to investor…

McDonald’s reported mixed quarterly results Monday as turmoil in the Middle East took a toll on its sales in those markets. Shares of the company closed nearly 4% lower on Monday. Here’s what McDonald’s reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG, formerly known as Refinitiv: Earnings per share: $2.95 adjusted vs. $2.82 expected Revenue: $6.41 billion vs. $6.45 billion expected The fast-food giant reported fourth-quarter net income of $2.04 billion, or $2.80 per share, up from $1.9 billion, or $2.59 per share, a year earlier. Excluding the write-off of software that’s…

Palantir co-founder and CEO Alex Karp arrives for a U.S. Senate bipartisan Artificial Intelligence Insight Forum at the U.S. Capitol in Washington, D.C., on Sept. 13, 2023. Stefani Reynolds | AFP | Getty Images Palantir shares surged more than 12% in after-hours trading after the company reported fourth-quarter earnings that beat analysts’ expectations for revenue. The company’s full-year guidance for 2024 came roughly in line with Wall Street’s estimates. Here’s how the company did: Earnings per share: 8 cents adjusted vs. 8 cents expected by LSEG, formerly known as Refinitiv Revenue: $608.4 million vs. $602.4 million expected by LSEG Palantir’s…

Shares of Peloton plunged on Thursday after the fitness company warned investors it is still months away from growing sales or turning a profit. The retailer posted mixed results for its holiday quarter, as it lost slightly more money than Wall Street expected but beat revenue estimates. Peloton also forecast weaker sales and a bigger loss than expected in its current quarter. Peloton shares closed more than 24% lower. Here’s how Peloton did in its fiscal second quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG, formerly known as Refinitiv: Loss per share:…

Car key for the Ferrari Purosangue SUV. Adam Jeffery | CNBC Luxury sports car manufacturer Ferrari topped Wall Street’s top- and bottom-line earnings expectations for the fourth quarter to finish off a record year of profits. The automaker reported a net profit of 1.26 billion euros, or $1.36 billion, for 2023, including 294 million euros, or $317.9 million, during the fourth quarter. Its adjusted earnings before interest and taxes, or EBIT, was 1.62 billion euros, or $1.75 billion, for the year, including 372 million euros, or $402.3 million, in the last quarter. Both were yearly records for the company. Ferrari’s…

Mark Zuckerberg, CEO, Meta Platforms, in July 2021. Kevin Dietsch | Getty Images News | Getty Images Meta beat on earnings and revenue in its fourth-quarter earnings report Thursday and announced its first-ever dividend payment. The stock soared 14% in extended trading overnight. Here are the key numbers: Earnings per share: $5.33 vs. $4.96 expected by LSEG, formerly known as Refinitiv Revenue: $40.1 billion vs. $39.18 billion expected by LSEG Daily active users (DAUs): 2.11 billion vs. 2.08 billion expected, according to StreetAccount Monthly active users (MAUs): 3.07 billion vs. 3.06 billion expected, according to StreetAccount Average revenue per user…

A Chevron gas station sign is shown on October 23, 2023 in Austin, Texas. Brandon Bell | Getty Images Chevron said its fourth-quarter profit fell sharply from a year ago, weighed down by a number of impairment charges, but the second-largest U.S. oil company still to managed to return a record amount of cash to its shareholders in 2023. The oil major returned $26.3 billion to investors by paying out $11.3 billion in dividends and buying back $14.9 billion in shares last year. It did so even as its profit dropped about 40% to $21.4 billion from $35.5 billion in…