PepsiCo revenue disappoints as inflation-battered customers cut back
PepsiCo Inc.’s second-quarter profit soared but sales fell short of Wall Street expectations as cash-strapped customers cut spending on snacks amid rising inflation. The junk-food conglomerate, which owns brands including Pepsi, Frito-Lay, Quaker and Gatorade, also lowered its forecast for fiscal 2024, predicting organic revenue growth of 4%. While that figure technically meets PepsiCo’s original […]
Netflix, Disney ask Canada court to stop proposed tax on streaming revenue: report
Major U.S. video streaming services including Netflix and Disney have asked a Canadian court to block a plan to force authorities to use 5% of their domestic sales to fund local news broadcasts and other domestic content. The Motion Picture Association of Canada, which represents streaming distributors, said last month’s order by the Canadian Broadcasting […]
Southwest cuts revenue outlook despite booming summer travel
Southwest Airlines, already under pressure from hedge funds after disappointing earnings, said Wednesday that a key profit margin will be lower than expected due to changes in how consumers book travel. The airline said it still expects second-quarter revenue to reach a record high. But Southwest said revenue per seat mile flown, a closely watched […]
Costco revenue beats estimates as cash-strapped consumers look for deals on groceries, discretionary items
Costco gold buyer Blaine Silverman explains why he jumped on the frenzy and why investors should consider buying into the precious metal. Costco Wholesale Inc. on Thursday reported better-than-expected third-quarter sales as cash-strapped consumers flocked to the company’s warehouses for low-priced groceries and discretionary items. The membership retailer credited solid demand for grocery and bakery […]
Stock futures slide as Salesforce tumbles on revenue miss and soft guidance: Live updates – CNBC
1 hour ago Salesforce alone is expected to drop 281 points off the Dow Jones Industrial Average when trading opens on Thursday. Salesforce shares fell about $43 in after-hours trading on Wednesday and are on track to fall 281 points off the Dow Jones Industrial Average when the market opens on Thursday. Salesforce is Second […]
NCAA, Power Five approve antitrust settlement, paving way for college athlete revenue model
The NCAA and the nation’s top five conferences approved a roughly $2.8 billion antitrust settlement, paving the way for a new revenue-sharing model that could increase compensation for student-athletes. NCAA President Charlie Baker In a joint statement The commissioners of the Atlantic Coast Conference, Big Ten, Big 12, Pac-12 and Southeastern Conference confirmed Thursday that […]
Trump Media & Technology posts $327M loss on little revenue
Trump Media & Technology Group, owner of former President Donald Trump’s social networking site Truth Social, lost more than $300 million in the last quarter, according to its first earnings report as a publicly traded company. . The company posted a loss of $327.6 million for the three months ended March 31, including non-cash charges […]
China’s Alibaba profit tumbles 86% though revenue beats estimates – CNN
Jade Gao/AFP/Getty Images/File Alibaba is China’s top e-commerce company by market share. Reuters — China’s Alibaba Group Holding Ltd. on Tuesday reported an 86% drop in fourth-quarter profit, largely due to valuation changes from equity investments, and the company’s U.S.-listed shares fell despite better-than-expected sales. Shares fell about 6% in early trading. The company also […]
AMC Stock Drops 10% Due to 13% Ad Revenue Collapse
There is an interesting thread running through left-wing Hollywood’s quarterly reports. They’re all bringing in good numbers (subscriber growth, etc.), but their stock prices are still falling. Last week it was Disney Grooming Syndicate. This week it’s AMC. In the first quarter of 2024, AMC’s streaming subscribers grew by 2% (adding 300,000) and now stands […]
Russia Doubles Oil Revenue Year-on-Year in April
Report released on Monday bloombergCiting information from the Russian Ministry of Finance, reported that it was found that the revenue the Russian government received from oil sales and taxes in April 2024 was more than double compared to April 2023. The report said that part of this increase was due to a significant drop in […]