Uber tops second-quarter revenue, profit estimates on strong ride demand as employees return to in-office work
Uber beats Wall Street expectations for second quarter Sales and profit rose on Tuesday from the previous quarter as demand for rides increased as employees returned to working in offices at closer to pre-pandemic levels. Revenue rose 16 percent to $10.7 billion, beating LSEG’s analyst forecast of $10.57 billion. Total bookings rose 19 percent to […]
Nintendo profit plunge 55% as sales of Switch console slump
Nintendo said on Friday that sales of its seven-year-old gaming console, the Switch, had slumped and its profits had fallen 55%. The stock fell nearly 10% on Friday following the disappointing earnings report. Japanese video game company Nintendo’s sales for the first quarter, which ends in June as part of the Bank of Japan’s fiscal […]
Hershey cuts yearly guidance, profit after 17% drop in sales
Hershey’s on Thursday reported a 17% drop in second-quarter sales and sharply cut its full-year profit and sales outlook. Shares plunged 4.5% early Thursday morning but have since risen 5%. The Pennsylvania-based candy company, which has a market capitalization of $38.83 billion, like many in the food and snack industry, has been struggling as consumers […]
Heineken shares fall 7% after first-half profit miss – CNBC
Operating profit showed organic growth of 12.5%, below the company’s consensus estimate of 13.2%. Beer sales were expected to grow 3.4% but actually increased just 2.1%. Heineken slumped to a net loss of 95 million euros ($103 million), mainly due to a non-cash impairment on its 874 million euro investment in Chinese brewer CR Beer. […]
Heineken shares fall 7% after first-half profit miss – CNBC
Operating profit showed organic growth of 12.5%, below the company’s consensus estimate of 13.2%. Beer sales were expected to grow 3.4% but actually increased just 2.1%. Heineken slumped to a net loss of 95 million euros ($103 million), mainly due to a non-cash impairment on its 874 million euro investment in Chinese brewer CR Beer. […]
Deckers shares soar after profit forecast hike on strong Hoka, UGG sales
Shares of Deckers Outdoor Inc. soared as much as 17% on Friday after several brokerages raised their price targets after the company bet on full-price sales of its best-selling Hoka running shoes and Ugg boots to boost its full-year profit forecast. Shares of clothing company Deckers Outdoor surged on Friday after the company raised its […]
Ford plunges 18.4%, worst day since 2008, after profit miss
Ford shares plunged nearly 20% on Thursday after the carmaker missed Wall Street profit expectations, marking the auto giant’s worst one-day drop in two decades. The Detroit-based automaker said late Wednesday that its second-quarter operating profit was $2.8 billion, down 26% from $3.8 billion in the second quarter of 2023, as it struggles with quality-related […]
Delta could take $500M profit hit after Crowdstrike outage: analyst
Wall Street analysts say last week’s global CrowdStrike outage could take a $500 million hit to Delta Air Lines’ current quarter profits. Citi Research aviation analyst Steven Trent slashed his third-quarter profit forecast for the Atlanta-based airline by more than $500 million due to the meltdown, which is still causing flight delays and cancellations this […]
Google parent Alphabet posts 29% jump in profit on digital ad growth, AI offerings
Alphabet Inc. on Tuesday reported better-than-expected second-quarter revenue and profit, helped by rising digital advertising sales and solid demand for its cloud-computing services, but warned that capital spending will remain high for the year. Alphabet’s results highlighted strong demand for digital advertising, driven by events such as the Paris Olympics and elections in several countries, […]
Tesla revenue misses estimates as price cuts dent profit
Tesla Inc said on Tuesday its second-quarter profit margins fell as price cuts and stimulus measures to combat sluggish demand continued to weigh on profits even as it stepped up efforts to push self-driving technology. Elon Musk’s Tesla Inc.’s second-quarter gross profit margin for its auto division was 14.65% excluding regulatory deductions, beating expectations of […]