Earnings

Goldman Sachs said profit surged 40 percent to $2.57 billion, exceeding analysts’ estimates on better-than-expected revenue from every major business with the exception of trading. The stock slipped as the company said legal and regulatory costs increased. Earnings of $5.98 per share beat the $4.66 estimate of analysts surveyed by Thomson Reuters. Company-wide revenue rose
0 Comments
The Bank of America cost-cutting machine hummed along for another quarter. The second-biggest U.S. lender said that second-quarter profit surged 33 percent to $6.8 billion, exceeding the $5.92 billion estimate of analysts surveyed by FactSet. Executives said it was the 14th straight quarter the company posted positive operating leverage, or increased profit by turning levers
0 Comments
BlackRock, the largest asset manager in the world, on Monday reported second-quarter earnings and revenue that surpassed analyst expectations. The company also reported, however, a slowdown in inflows amid increasing market uncertainty. Here is how the company’s results fared compared with Wall Street estimates: Earnings: Adjusted $6.66 per share, vs $6.55 expected by Thomson Reuters
0 Comments
Shares of PNC Financial Services rose nearly 2 percent in premarket trading Friday after beating estimates in its second-quarter earnings report. The regional bank reported earnings of $2.72 per share, beating estimates from analysts surveyed by Thomson Reuters by 14 cents. PNC also posted better-than-expected revenue, bringing $4.32 billion, compared to $4.25 billion expected. PNC
0 Comments
The bank has been under pressure for several quarters because of multiple probes into its sales practices. Two years ago, the scandal burst into the public eye when it was disclosed that retail bank employees had created fake accounts in customers’ names to meet sales targets. Sales issues later emerged in other businesses, such as
0 Comments
Still, CEO Michael Corbat said in a statement that Citigroup “drove strong year-over-year revenue growth in many of our businesses – including our International Consumer franchise, Treasury and Trade Solutions, Equities, and the Private Bank. And we continue to support our clients as evidenced by solid loan growth that was balanced across businesses and geographies.”
0 Comments
J.P. Morgan Chase, the biggest U.S. lender by assets, posted record second-quarter profit of $8.32 billion, exceeding estimates as it posted stronger-than-expected trading results. Profit surged 18 percent, clobbering analyst estimates for a 9.4 percent increase. Earnings per share were $2.29 in the quarter, beating the $2.22 estimate. It was the 14th straight quarter that
0 Comments
Delta Air Lines expects pricier fuel to eat into its bottom line this year. Delta cut its 2018 profit outlook on Thursday as it prepares to slow its growth this fall. It expects filling up its planes with fuel will cost it $2 billion more this year compared with 2017. Jet-fuel prices are up about
0 Comments
The big banks are first up to bat this second-quarter earnings season, but only one stock’s technicals look positive heading into their report. Wells Fargo has the potential for a post-earnings breakout, according to Instinet senior equity trader Frank Cappelleri. “Wells Fargo got hit especially hard” earlier this year, Cappelleri, senior equity trader at Instinet,
0 Comments
PepsiCo‘s quarterly numbers Tuesday morning may be a signal for another strong earnings seasons, according to CNBC’s Jim Cramer. “They reported exactly what the bulls wanted,” said Cramer, whose charitable trust owns shares of the New York-based food and beverage company. Pepsi’s stock rose Tuesday after the company reported fiscal second-quarter earnings that beat Wall
0 Comments
The last earnings season was all about raising expectations for earnings on the back of corporate tax cuts, share buybacks, and a synchronous global economic expansion. A lot has changed in the last three months, according to Nick Raich of Earnings Scout. “Last earnings season it was all about raising estimates. This earnings season, all
0 Comments
PepsiCo reported fiscal second-quarter earnings on Tuesday that beat analysts’ expectations as sales of Cheetos and other salty snacks continued to offset its slumping soft drinks business. Pepsi’s North American beverage business has been struggling to contend with increased competition from upstart brands and changing consumer tastes. CEO Indra Nooyi last quarter placed the blame
0 Comments
Bullish Wall Street watcher Bill Stone sees a strong earnings season ahead, with energy and technology stocks grabbing the biggest profits. In a recent interview, PNC’s former global chief investment strategist cited strong economic fundamentals as a major catalyst for blowout numbers. “From an earnings standpoint, energy probably will grow earnings about 130 percent, and
0 Comments
Daniel Acker | Bloomberg | Getty Images General Mills breakfast cereal boxes are arranged for a photograph in Tiskilwa, Illinois. Cheerios cereal maker General Mills on Wednesday reported a quarterly profit that topped analysts’ estimates, as its efforts to reduce costs and improve its distribution network paid off. Gross margins of the company, which is
0 Comments
Patrick T. Fallon | Bloomberg | Getty Images John Chen, chief executive officer of BlackBerry Ltd. Canadian software maker BlackBerry on Friday reported quarterly revenue and profit that topped analysts’ estimates, driven by strong growth in its high-margin software and services business. U.S.-listed shares of BlackBerry rose 2.6 percent to $11.89 in premarket trading. The
0 Comments
Red Hat stock fell after the company reported better-than-expected earnings for the first quarter of its 2019 fiscal year but lower-than-expected guidance on Thursday. The stock fell more than 14 percent in Friday trading, in its worst day since 2006. Here’s how the company performed: Earnings: Excluding certain items, 72 cents per share, vs. 69
0 Comments