News Corp beats revenue estimates as digital subscriptions grow
News Corp. on Thursday reported fourth-quarter earnings that beat Wall Street expectations, helped by digital subscriber growth at its Dow Jones business. The New York-based media giant, which owns The Washington Post, The Wall Street Journal and Dow Jones Newspapers, said revenue for the quarter ended June 30 rose 6 percent to $2.58 billion, from […]
Disney warns theme park revenue to fall as quarterly profit slips
The Walt Disney Co. reported a decline in operating profit at its theme parks and predicted a “declining demand” in the coming quarter, overshadowing the success of Pixar’s animated film “Inside Out 2” and its streaming service. Disney shares fell 4.5% on Wednesday after the company warned that its theme parks operating profit would decline […]
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 […]
Amazon shares plummet on weak revenue forecast
Amazon’s shares fell sharply in after-hours trading after the company forecast lower-than-expected sales for the current quarter and its second-quarter profit beat Wall Street expectations. Amazon’s focus on the success of its AWS cloud computing platform did not please investors, with the Seattle-based company’s shares falling more than 6% in after-hours trading. “We continue to […]
Boeing names new CEO as company continues to face scrutiny, revenue loss
Boeing Co. has named aerospace industry veteran Robert “Kelly” Ortberg as its next president and CEO as the company seeks to recover from intense scrutiny following a series of high-profile accidents. Ortberg will take over as CEO of the aerospace company on Aug. 8, following Dave Calhoun’s decision to step down as CEO. Announced Wednesday. […]
Microsoft beats revenue forecasts but poor performance of cloud services drags share price | Microsoft
Microsoft beat analysts’ expectations in its latest quarterly earnings report, reporting a 15% increase in revenue year over year on Tuesday. But growth in the company’s flagship cloud-computing service, Azure, fell short of expectations, sending Microsoft shares down as much as 7% in after-hours trading. The company was expected to report solid growth in its […]
Hochul restarts 2nd Ave. subway project and punts congestion pricing revenue fight to 2025
Gov. Kathy Hawkle has freed up $54 million to restart the Second Avenue subway construction project that was stalled by the abrupt halt to congestion pricing, but she acknowledged Tuesday that the question of how to fill a $15 billion hole in the MTA’s budget will drag on into next year. The state Legislature ended […]
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 […]
Netflix beats subscriber targets, cautions ad revenue may take time to ramp up
Mark Mahaney, senior managing director at Evercore ISI, revealed his new price target for Netflix’s high-flying stock during an appearance on “Varney & Co.” Netflix said on Thursday it added more than 8 million subscribers in the second quarter, benefiting from a crackdown on password sharing and popular titles like “Bridgerton,” “Baby Reindeer” and “Roast […]
BlackRock's ETF business just keeps growing, but the search for revenue goes on – CNBC
Judged by these standards, Fink’s bet proved to be one of the greatest financial investments of all time. A comprehensive analysis of BlackRock’s ETF business is a difficult task, but revenue, assets under management (AUM) and growth potential are certainly important factors. According to Morningstar equity strategist Gregory Warren, BlackRock’s total revenue for 2023 is […]