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 […]
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 […]