Category Archives: Quarterly results

Meta rides AI boom to stellar quarterly earnings, but slightly less than expected

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Company beats financial predictions but does not increase daily users as much as Wall Street thought it might

Meta’s blowout year continues after the company reported another stellar financial quarter on Wednesday. Shares fell in after-hours trading.

Wall Street analysts had high expectations for the Instagram and WhatsApp parent company, projecting an 18% jump in sales year over year. The company reported $40.6bn in sales, a 19% increase year over year that outpaced investor expectations of $40.19bn. Meta, which saw a 25% jump in its share price over the past two months, reported $6.03 in earnings per share (EPS), surpassing Wall Street’s expectations of an EPS of $5.29.

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Netflix to double profits after adding millions of subscribers in three months

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After cracking down on password sharing, expanding into ads and investing billions in live TV, group declares success

Netflix expects to double its profits this quarter after the world’s largest streaming service added more than 5 million new subscribers this summer.

After cracking down on password sharing, introducing adverts to its service and investing billions in live TV, the group declared it had “delivered” on plans to shore up its business.

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Nvidia reports stratospheric growth as AI boom shows no sign of stopping

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Chipmaker reports strong demand and higher-than-expected revenue even as other companies spend to develop their own chips

Nvidia reported record quarterly revenue Wednesday on the back of the explosion in corporate appetite for artificial intelligence.

“The next industrial revolution has begun – companies and countries are partnering with Nvidia … to produce a new commodity: artificial intelligence,” said Jensen Huang, founder and CEO of Nvidia.

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Lyft CEO says ‘My bad’ after earnings typo sends stock up 60%

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The company had predicted it would grow by 5% in 2024, but later said that the real increase would be a factor of 10 lower

Lyft beat estimates for fourth-quarter profits on Tuesday as the ride-share platform reaps the benefits of growth in rides to stadiums and airports as well as heavy cost-cutting.

Company shares surged more than 60% in extended trading but erased most of those gains after Lyft’s chief financial officer corrected a major mistake in the earnings report. The company had predicted it would grow by 500 basis points (5%) in 2024, but later said that the real increase would be a factor of 10 lower – 50 basis points (0.5%). In 2023, the stock gained about 36%.

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Tesla delivers underwhelming earnings despite Cybertruck launch and high vehicle deliveries

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Electric vehicle manufacturer’s earnings in the fourth quarter of 2023 missed analyst expectations

Despite putting a new vehicle on the market, announcing another for 2025 and beating Wall Street’s expectations for vehicle deliveries, Tesla was not able to shake off its disappointing third quarter.

The electric vehicle manufacturer brought in $25.1bn in revenue and posted $.71 in earnings a share in the fourth quarter of 2023, missing analyst expectations of 25.76bn in revenue and $0.74 earnings a share. The company’s fourth quarter revenue increased 3% year over year from $24.3bn in 2022.

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Chipmaker Nvidia crushes quarterly expectations with $13.5bn in revenue

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The company’s specialized AI chips are in great demand, boosting its value to over $1tn, a first for a chipmaker

The chipmaker Nvidia has far surpassed quarterly expectations, raking in $13.5bn in revenue – over $2bn more than the $11.2bn Wall Street analysts had predicted – amid skyrocketing demand for its computer chips that power artificial intelligence (AI) systems.

The blockbuster second quarter comes at a moment of intense hype around generative AI, a mood that Nvidia has been uniquely positioned to capture. The 30-year-old company is one of the biggest winners in the AI boom and is now valued at over $1tn, with its chips powering nearly all the world’s major artificial intelligence apps, including ChatGPT.

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Shell’s ‘obscene’ $5bn profits reignite outrage amid climate crisis

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Campaigners criticise plan to increase oil and gas production despite extreme heat in Europe

Shell has reignited outrage among climate activists by handing billions to its shareholders after making profits that campaigners have described as “obscene”.

Protests were held outside the oil company’s London headquarters on Thursday after it reported second-quarter profits of just over $5bn (£3.9bn) in the same week that wildfires linked to the climate crisis burned across Mediterranean countries.

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Tesla beats Wall Street expectations to produce record number of vehicles

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Report comes amid concerns Elon Musk, who owns SpaceX, Neuralink and Twitter, is spread too thin

Tesla narrowly beat Wall Street expectations in the second quarter of 2023, but shares began to fall in after hours trading following an earnings call that offered shareholders little reassurance surrounding Tesla’s promised Cybertruck release and other production concerns.

Revenue for the quarter topped $24.97bn compared to analyst predictions of $24.7 bn.

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Apple weathers tech industry storm to top profit and revenue targets

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The company reported an 8% increase of earnings at $90.1bn beating Wall Street expectations with net profit of $1.29 a share

Apple’s quarterly earnings on Thursday revealed that the company is weathering the ongoing tech downturn better than its competitors, reporting revenue and profit that topped Wall Street targets.

Revenue rose 8% this quarter to $90.1bn, above estimates of $88.9bn, while net profit was $1.29 a share, topping with the average analyst estimate of $1.27 a share, according to data from the market research firm Refinitiv.

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Meta’s growth comes to screeching halt as company projects first revenue drop

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The company in its second-quarter earnings report said it anticipates lower than predicted revenue of $26bn to $28.5bn

For the first time in nearly a decade, Meta’s explosive growth has come to a halt, as the Facebook parent company forecast its first decline in revenue since it went public.

Meta, in its second-quarter earnings report on Wednesday, said it expects third-quarter revenue of between $26bn and $28.5bn – lower than the $30.52bn analysts predicted.

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Google earnings signal company weathering slowdown better than expected

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Parent company Alphabet reports second-quarter revenue of $69.69bn, 13% higher than a year ago

Alphabet only narrowly missed estimates for its quarterly revenue on Tuesday, a sign the tech giant may weather an industry-wide slowdown better than expected.

Alphabet reported second-quarter revenue of $69.69bn, 13% higher than same period a year ago and nearly in line with the average expectation of $69.88bn among investment researchers tracked by Refinitiv.

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Shares in Snapchat owner slump 25% amid slowdown in ad revenue

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Parent company Snap talks of ‘incredibly challenging’ conditions as it seeks new sources of revenue

Shares in Snapchat’s parent company have fallen 25% after it confirmed investors’ fears of a slowdown in advertising revenue for social media firms.

Snap painted a grim picture of the effects of a weakening economy on social media in quarterly results on Thursday and declined to make a revenue forecast in “incredibly challenging” conditions, hitting its share price in after hours trading and setting off a chain reaction among listed rivals.

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Alphabet revenue falls short as YouTube and TikTok battle for users

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Supply issues, inflation and war in Ukraine fuel Google parent company’s first-quarter struggles

Alphabet’s first quarter revenue fell below analysts’ expectations on Tuesday, as the company confronts supply chain problems, inflation concerns, and fallout from the war in Ukraine.

In its quarterly earnings report, Google’s parent company said it had made a quarterly profit of $16.436bn, or $24.62 per share, missing expectations of $25.76 per share.

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Alphabet: revenue soared for Google owner as Covid brought more people online

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Company exceeded Wall Street’s expectations with $55bn in revenue, even as it continued to face landmark antitrust lawsuits

Revenue for Google’s parent company, Alphabet, jumped by 34% on the previous year in the first quarter of 2021, the company announced on Tuesday, fueled in part by a sustained surge in ad sales during a pandemic that has seen people spending more time online.

The robust announcement provides the latest sign that advertisers are expecting the economy to roar back to life as more people get vaccinated, emerge from global lockdowns, and resume travel and spending. Google’s vast digital ad empire is now benefiting from that recovery.

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Apple sales beat expectations but Tim Cook sees uncertainty ahead

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Company reports $58.3bn in sales as CEO says China sales ‘headed in the right direction’ despite coronavirus

Apple reported sales and profits that beat Wall Street expectations on Thursday despite fallout from the coronavirus pandemic, with Tim Cook saying China sales were “headed in the right direction” as that country reopens.

But the CEO said it was impossible to forecast overall results for the current quarter because of uncertainty created by the virus.

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Google share price plunges, wiping $70bn off its market value

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Biggest fall since October 2012 follows worse-than-expected quarterly results

Google’s share price has had its biggest fall in nearly seven years, wiping $70bn (£54bn) off its market value, after disappointing sales figures sparked investor fears that advertisers have been shifting their business to digital rivals such as Facebook and Amazon.

Shares in Alphabet, the parent company of Google and YouTube, fell at one point by more than 8% on Tuesday, the biggest fall since October 2012, after the company produced first quarter results on Monday that were worse than expected.

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