Coca-Cola adjusted non-GAAP earnings for the three months ending in December came in at 45 cents per share, matching the Street expectations. The figure is flattish to the year-ago quarter. The beverage giant’s revenues climbed +6.65% to $10.1 billion, exceeding analysts' expectations of $10.02 billion. The group's operating margin expanded by 160 basis points to 22.7%. “While 2022 brought...
On Tuesday, February 21, Walmart will be announcing its earnings forecast for the upcoming year. This is a highly anticipated event, as Walmart is one of the largest retailers in the world, and its performance often reflects broader trends in the global economy. Walmart's most recent earnings report, released in November 2022, showed strong growth in e-commerce sales, which increased by 43%...
On Wednesday, eBay Inc. will release its earnings report for the latest quarter, providing investors with an updated look at the company's financial performance. The report is expected to show strong revenue growth for the e-commerce platform, as it continues to benefit from a surge in online shopping during the pandemic. eBay has been one of the major beneficiaries of the COVID-19 pandemic,...
Ecolab posted fourth-quarter FY22 adjusted earnings per share of $1.27, which surpassed analysts’ expectations of $1.25. Sales grew +9.1% year-on-year to $3.67 billion, vs. consensus of $3.70 billion. For Q1 FY23, Ecolab expects adjusted earnings per share of $0.82-$0.90, compared to analysts’ forecast of $0.85. Following their quarterly results, Ecolab shares got price target hikes from some...
Tesla sales increased from $0.4 billion 10 years ago to $81 billion currently, noted Charlie Bilello, chief market strategist at CPI Wealth. In comparison, General Motors Corp. revenues rose from $152 billion to $157 billion, and Ford Motor sales $134 billion, to $158 billion, Bilello mentioned. Those figures imply that while Tesla revenue surged by 20,150% over the last 10 years, GM and Ford...
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Moovly Media Inc. this week announced an integration of its Moovly platform with OpenAI GPT-3 to bolster next generation AI (Artificial Intelligence) capabilities. ChatGPT uses natural language processing and GPT-3 technology to generate texts from user input, and is expected to create scripts for video content within Moovly. The integration would potentially enable AI-based automated video...
Lyft shares ended Friday trading at $10.31, slumping -36.4% -- the sharpest percent decline ever. At least eight analysts downgraded the ride-hailing company's stock following its earnings report (according to FactSet data). While Lyft’s Q4 adjusted earnings of $126.7 million beat Street forecasts, it disappointed on guidance. According to the company’s statement, it likely won't achieve its...
Expedia Group, Inc. reported adjusted earnings of $1.26 per share for fourth-quarter 2022, missing the Zacks Consensus Estimate by -31.9%. The travel booking company’s revenues grew +15% y/y to $2.62 billion, but was shy of the Zacks Consensus Estimate of $2.68 billion. Expedia’s gross bookings rose +17% y/y to $20.51 billion, on lodging and air bookings strength. Also, ‘booked room nights’...
Kellogg reported fourth-quarter earnings and sales that beat expectations, on strength in its snacks business. The company’s fourth-quarter adjusted earnings of 94 cents a share handily topped analysts’ expectations of 85 cents. Net sales of $3.8 billion also exceeded analysts’ estimates of $3.67 billion. The company also shared initial financial forecasts for 2023, including organic net...
PepsiCo posted its fourth quarter earnings that surpassed analysts’ expectations, on the back of higher prices. The beverage behemoth’s adjusted earnings per share came in at $1.67, topping analysts’ expectations of $1.65. Revenue was $28 billion vs. consensus forecast of $26.8 billion. The company's average prices surged +16%, while organic volume fell -2%. For the full-year 2023, the...
Activision Blizzard posted fourth quarter sales that beat analysts’ expectations, amidst its success with its 'Call of Duty' franchise during the holiday season. The video game company’s adjusted revenues (which exclude deferrals) for the three months ending in December surged +43.4% from the year-ago quarter to $3.57 billion, well above analysts' forecast of $3.16 billion. Game net bookings...
Zoom Video Communications shares climbed on Tuesday, after the video conferencing company announced plans to layoff around 15% of its global workforce. The job cuts of 1,300 would be accompanied by a 98% pay cut for CEO Eric Yuan, who will also be giving up his fiscal 2023 bonus. Zoom's leadership team will also see their salaries get reduced by 20% for the coming fiscal year, and forego...
Google-parent Alphabet reported fourth quarter sales that missed analyst’ expectations, amid an ongoing reduction in marketing spending from clients globally. The company also mentioned a multi-billion hit to current quarter earnings due to its recent round of job cuts. Fourth-quarter 2022 earnings of $1.05 per share missed the FactSet consensus estimate of $1.18 a share. For the three months...
The U.S. economy added far more new jobs in January than expected. According to the Bureau for Labor Statistics data, the economy added +517,000 new jobs last month -- crushing the Street consensus forecast of +185,000. Private payrolls added +443,000. The unemployment rate dipped to 3.4%, the lowest levels since 1969. Hourly wages rose 0.3% on the month, and up 4.4% year-over-year (vs. the...
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NXP Semiconductors reported fourth-quarter earnings that missed analysts’ expectations, while the chip company projected a year-over-year decline in the current quarter’s revenue. NXP’s earnings climbed to $2.76 a share (from $2.24 in the year-ago quarter), but was shy of the consensus estimate of $2.77 (based on Capital IQ poll). Revenue rose +9% to $3.31 billion, beating the Street...
Dover Corporation posted fourth-quarter 2022 adjusted earnings per share (EPS) from continuing operations of $2.16, exceeding the Zacks Consensus Estimate of $2.15 (according to Zacks Equity Research). EPS was +21% higher year-over-year, on the back of strong demand and solid backlog rates, coupled with improving price-cost dynamics – which offset the effects of input shortages, inflationary...
Exxon Mobil reported fourth quarter earnings that topped analysts’ expectations, on the back of favorable oil prices. The oil & gas company’s adjusted earnings for the three months ending in December came in at $3.40 per share, exceeding the Street expectations of $3.29 per share. Revenues rose +12.3% to $95.43 billion, also beating analysts' expectations of $94.67 billion. “While our results...
General Motors posted fourth quarter earnings that beat analysts’ expectations. The carmaker’s adjusted earnings for the three months ending in December came in at $2.12 per share, surging +57% year-over-year, and exceeding the Street expectation of $1.69 per share. Revenues rose +28.3% to $43.1 billion, vs. analysts' consensus of $40.65 billion. GM delivered 623,261 cars over the quarter,...