Earnings

Credit card issuer American Express beat analysts’ estimates for quarterly profit on Friday, as a healthy U.S. economy fueled higher spending by its customers. Customer spending rose 7% in the United States, the company’s biggest market, and 5% globally in the second quarter. U.S. consumer spending increased in May and April. Debit and credit card purchase volumes
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Philip Morris International beat second-quarter earnings and revenue estimates and hiked its full-year forecast Thursday as its new tobacco products gained momentum, sending shares of the company up more than 9%. PMI sells Marlboro cigarettes and other brands around the globe. The tobacco giant is trying to pivot away from cigarettes and toward new products,
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James Gorman, chief executive of Morgan Stanley. Qilai Shen | Bloomberg | Getty Images Morgan Stanley on Thursday beat analysts’ estimates for second-quarter profit as a buoyant stock market helped two of the investment bank’s three main businesses. The bank posted earnings of $2.2 billion, or $1.23 a share, exceeding the $1.14 estimate of analysts
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UnitedHealthcare office Michael Nagle | Bloomberg | Getty Images UnitedHealth beat estimates for quarterly profit and raised its 2019 earnings forecast on Thursday, buoyed by strength in the largest U.S. health insurer’s pharmacy benefits management business and its insurance plans. The company is the first health insurer to report quarterly results after the Trump administration
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Wells Fargo shares fell on Tuesday despite beating profit forecasts as investors punished lower net interest income than hoped and comments from management that expenses could remain on the higher end of projections into 2020. The bank said its net income was $6.2 billion in the second quarter, up from $5.9 billion in the first
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Johnson & Johnson shares fell 1% Tuesday despite the company posting a 42% profit spike as concerns about lawsuits the company faces regarding its talc-based baby powder and its alleged role in the opioid crisis weighed on investors. Here’s what the company reported compared with Wall Street estimates, based on a survey of analysts by
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David Solomon, Goldman Sachs Andrew Harrer | Bloomberg | Getty Images Goldman Sachs beat Wall Street’s expectations for second-quarter results Tuesday with outperformance in its investment banking and trading division. Here’s how the company did compared with what Wall Street expected: Earnings: $5.81 per share vs. $4.89 per share forecast by Refinitiv Revenue: $9.46 billion
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Citigroup on Monday beat analysts’ expectations for second-quarter profit and revenue on gains from the initial public offering of electronic bond trading platform Tradeweb. The bank posted profit of $4.79 billion, or $1.95 per share, compared with the $1.80 estimate of analysts surveyed by Refinitiv. Excluding the impact of the IPO, the bank would have
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U.S. President Donald Trump attends a bilateral meeting with China’s President Xi Jinping during the G20 leaders summit in Osaka, Japan, June 29, 2019. Kevin Lamarque | Reuters Citigroup kicks off earnings season on Monday. Traders enter with a singular focus on company guidance. Bears believe second-half guidance will be cautious and lower than expected
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A sales consultant with Illumina displays a flow cell at a symposium in La Jolla, California. Sam Hodgson | Reuters Shares of Illumina dropped more than 16% in extended trading after the genetics company slashed its full-year guidance and previewed disappointing second-quarter revenue. Illumina said it expects to report a second quarter revenue of approximately
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Tesla Motors CEO Elon Musk unveils large utility scale home batteries at the Tesla Design Studio in Hawthorne, California. David McNew | AFP | Getty Images Tesla shares surged on Wednesday after what Barclays’ called the company’s “impressive” record quarterly deliveries number, but Wall Street analysts largely remain cautious, focused on the upcoming second-quarter earnings
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Nike sold more sneakers and sports gear during the fiscal fourth quarter than Wall Street expected, helping to boost revenues by 4% to just over $10 billion. Its earnings released Thursday, however, missed analysts’ expectations by a few pennies a share, and the stock initially fell by more than 4% in after-hours trading before rebounding.
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Pedestrians walk past a Walgreens store in New York. Michael Nagle | Bloomberg | Getty Images Walgreens Boots Alliance on Thursday beat fiscal third-quarter earnings estimates as higher prescription drug sales helped the company regain its footing after CEO Stefano Pessina dubbed last quarter “the most difficult” since the company was formed. Walgreens reported adjusted
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Frederick Smith, CEO of FedEx. Adam Jeffery | CNBC FedEx CEO and Chairman Frederick Smith said on Tuesday the company’s lawsuit against the Department of Commerce is “separate and distinct” from recent shipping incidents involving Chinese technology company Huawei. The shipping company sued the Department of Commerce on Monday, saying that regulations requiring companies to
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Sanjay Mehrotra, CEO, Micron Technology Scott Mlyn | CNBC Shares of memory and storage company Micron rose as much as 10% after-hours Tuesday after the company beat analysts’ expectations for the third quarter of its 2019 fiscal year, which ended on May 30. Here are the key numbers: Earnings: $1.05 per share, excluding certain items,
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The corporate earnings picture continues to deteriorate, with companies exposed to tariffs taking a particularly strong hit. As profit reports just start to trickle in, the expectations are getting worse. Forecasters already were indicating negative earnings growth for the second quarter, but the outlook also has swung into red numbers for the third quarter, according
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