Verizon Communications posted first quarter earnings that beat expectations. However, the telecom company lowered its full-year forecast for wireless revenues and profit growth. The company’s adjusted non-GAAP earnings for the three months ending in March grew +3% from the year-ago quarter to $1.35 per share, largely in-line with analysts’ expectations. Revenues rose +2.1% from last year to...
Shares of Netflix plunged -37% Wednesday morning, after the streaming giant reported a loss in subscriber count Tuesday evening-- for the first time in more than a decade. On Tuesday, Netflix posted its first quarter earnings of $3.53, well above the $2.89 expected by analysts polled by a Refinitiv survey of analysts. The company’s revenue rose +10% year-over-year to $7.87 billion in the...
Micro-blogging website Twitter shares climbed on Monday, but are still lower than the takeover bid offered by Elon Musk last week. Musk , Tesla’s CEO, tweeted on Monday that he would eliminate all board members, taking collective salaries to "$0 if my bid succeeds, so that’s ~$3M/year saved right there". Last week, Musk announced a surprise $43 billion takeover bid, around a week after he had...
The PNC Financial Services Group, Inc. first quarter adjusted earnings came in at $3.29 per share, exceeding Zacks Consensus Estimate of $2.78 per share. Earnings were $4.10 per share a year ago. It has topped consensus EPS estimates four times over the last four quarters, The company’s revenues of $4.69 billion for the quarter, falling short of missing the Zacks Consensus Estimate by 1%...
Morgan Stanley posted first quarter earnings that surpassed analysts’ expectations. The bank’s earnings came in $2.02 per share in the quarter, well above the $1.68 expected by analysts polled by Refinitiv. Revenue of $14.8 billion also surpassed the $14.2 billion expected. Revenue at Morgan Stanley’s equity trading desk was $3.2 billion for the quarter, higher than an expectation of $2.7...
Wells Fargo first-quarter earnings fell to $3.67 billion, or 88 cents a share, from $4.64 billion, or $1.02 a share, in the year-ago quarter. However, the figure was higher than the 81 cents expected by analysts. Revenue fell to $17.59 billion from $18.53 billion in the year-ago quarter, missing the expectations of $17.78 billion (according to FactSet). Average loans were $898 billion, were...
Goldman Sachs reported its first quarter earnings that beat analysts’ expectations. The banking behemoth’s earnings fell to $3.83 billion in the quarter, or $10.78 a share, from $6.71 billion, or $18.60 a share, in the year-ago quarter. However, it crushed analysts’ expectations of $8.89 a share. Revenue decreased to $12.93 billion in the quarter, from $17.7 billion in the year-ago period...
Bed Bath and Beyond reported a fourth-quarter loss, resulting in a negative surprise for analysts. The home goods retail company also mentioned challenges slowing consumer demand. The company incurred a loss of -92 cents, vs. profit of +3 cents expected by analysts polled by Refinitiv. Revenue plunged -22% from the year-ago quarter to $2.05 billion, missing expectations of $2.07 billion...
Lamb Weston Holdings, Inc. reported its fiscal third-quarter results, with earnings topping Zacks Consensus Estimate, even as revenue fell short of expectations. The food processing company’s earnings climbed +62% from the year-ago quarter to 73 cents per share came, well above the Zacks Consensus Estimate of 44 cents. The bottom line was bolstered by higher income from operations and equity...
Cazoo Group reported its fourth-quarter FY21 results, that revealed revenue growth of 227% on a year-over-year basis. Revenue came in at £245 million. Retail revenue climbed +128% Y/Y to £157 million. The number of retail vehicles sold by the European online car retailer was up 61.1% year-over-year to 8,714, and wholesale vehicles was up 505.5% year-over-year to 7,611. Cazoo's gross margin...
Levi reported its fiscal first quarter earnings that surpassed analysts’ expectations. For the three-month period ended Feb. 27, the denim jeans maker’s adjusted earnings came in at 46 cents per share, well above 42 cents expected by analysts polled by Refinitiv. Revenue of $1.59 billion also exceeded the $1.55 billion expected. On a year-over-year basis, the company’s sales rose +26% in the...
Array Technologies fourth quarter revenue exceeded analysts’ expectations. However, its earnings missed estimates. The company’s Q4 2021 revenues rose +22% from the year-ago quarter to $219.9 million, beating the consensus estimates of $213.82 million. Adjusted net loss incurred in the quarter was -$0.06, wider than the expected -$0.03. Looking ahead, Array projects 2022 revenue in the range...
Lindsay Corporation posted earnings of $1.32 a share in second-quarter fiscal 2022 (ended as of Feb 28, 2022), exceeding the Zacks Consensus Estimate of $1.31. The EPS was +22% higher from the year-ago quarter. The irrigation equipment company’s revenue surged +39% year-over-year to $200 million, beating the Zacks Consensus Estimate of $182 million. Revenues from the Irrigation business...
SPI Energy Co. said that 2021 net sales climbed +17% to $162 million. The photovoltaic solutions company said it "fortified our foundations in multiple business segments," including expanding residential solar operations and products and launching new utility and commercial-scale solar projects. According to SPI, with multiple business lines addressing multi-billiondollar opportunities within...
Sodexo posted its second quarter earnings that surpassed analysts' expectations. The food services and management company’s earnings came in at €2.27 per share, compared to analysts’ forecast of €2.21 per share (according to Investing.com). Looking ahead, the company reiterated its projections for underlying operating profit margin close to 5 percent, at constant rates for fiscal 2022. It now...
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Bank of China posted its largest profit increase in almost a decade in 2021, as lending strengthened in the second year of the pandemic and bad loan accumulation eased. Net income rose +12.3% from a year ago to 216.6 billion yuan ($34 billion) in 2021, thereby surpassing a median expectation of 209.8 billion yuan (as reported in a Bloomberg report). The year registered the fastest profit...
Concentrix Corporation’s adjusted earnings came in at $2.85 per share for the quarter ended February 2022, surpassing the Zacks Consensus Estimate of $2.70 per share. The figure was $2.29 per share a year ago. Revenues of $1.54 billion in the quarter exceeded the Zacks Consensus Estimate by 0.38%. This is also higher than the year-ago quarter’s revenue of $1.35 billion. The company beat...
Chewy Inc. reported earnings and revenue that missed analysts’ expectations. The online retailer of pet food and other pet products reported a loss per share of -$0.15 for the fourth quarter, steeper than analysts’ expectations of a loss of -$0.06 a share. Revenue of $2.39 billion came in lower than analysts’ expectation of $2.42 billion. Chewy mentioned that there were uptrends in site...
BioNTech SE reported growth in earnings and revenue for the fourth quarter, driven by the Covid-19 vaccine it produces in partnership with Pfizer Inc. The company also announced its program for repurchasing shares of up to $1.5 billion over the next two years. The company posted net profit of 3.17 billion euros ($3.51 billion) for the last quarter of the year, up from EUR3.66 million a year...