Earnings

Earnings season so far is “horrible,” and the one-day decline in shares of companies reporting is tracking as the worst since 2011, according to Bespoke Investment Group. “Ever since mid-September, we’ve been seeing a trend of companies reporting earnings [and] have been declining in reaction to their news,” Bespoke co-founder Paul Hickey said Tuesday on
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United Technologies soothed investor nerves over Chinese approval for its purchase of aircraft parts maker Rockwell Collins, as it announced a stronger-than-expected quarterly profit on Tuesday. The jet engines-to-air conditioners group, under pressure from activist investors to split itself up, also said it was considering options for a break-up including entertaining interest from third parties
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Oilfield services provider Halliburton’s third-quarter profit edged past analysts’ estimates on Monday, helped by its international business, even as pipeline bottlenecks in North America led to fewer well completions. Halliburton, the largest provider of hydraulic fracturing services, has seen demand for its services soften as U.S. producers cut down on spending and transportation bottlenecks in
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Dutch health care technology company Philips reported weaker-than-expected third-quarter net income on Monday, citing subdued growth in key markets and foreign currency headwinds. Here are the key highlights: Third-quarter net profit: 292 million euros vs. 350.5 million euros expected by analysts at data firm Refinitiv. EBITA came in at 590 million euros in the third
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American Express beat Wall Street’s expectations for third quarter earnings, saying Thursday it had earnings per share of $1.88 on strong gains in spending by consumers and small businesses. Wall Street had expected EPS of $1.77, as forecast by Refinitiv. Revenue was a record $10.1 billion, beating the expectation of $10.05 billion. Profit of $1.6
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Textron reported a lower-than-expected quarterly profit on Thursday, hit by a drop in sales of its turboprop aircraft as well as flat deliveries of its flagship Cessna business jets, sending shares down 10 percent. Textron delivered just 41 business jets in the third quarter ended Sept. 29, flat compared to a year ago after growing
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Sealed Air shares fell after the bubble wrap manufacturer previewed disappointing third-quarter earnings and slashed its full-year profit outlook on Wednesday. The company said it expects third-quarter earnings per share between 60 cents and 61 cents. Analysts had expected earnings of 66 cents per share, according to a Refinitiv consensus estimate. CEO Ted Doheny said
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IBM stock was down as much as 7 percent late in the morning Wednesday following revenue misses disclosed in its third quarter earnings report Tuesday. Its overall revenue was down 2 percent year over year. The revenue dip did not come as much of a surprise to many analysts, who expected a decline for the
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Robyn Beck | AFP | Getty Images Netflix CEO Reed Hastings gives a keynote address, January 6, 2016 at the CES 2016 Consumer Electronics Show in Las Vegas, Nevada. Netflix shares gained more than 5 percent Wednesday as Wall Street gushed about its third-quarter earnings beat. Shares rose as much as 10 percent to $380
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“IBM still has a revenue growth problem,” Stifel analysts wrote in a Tuesday note. While the company saw some expansion in recent quarters from the introduction of a new mainframe computer, the fresh cycle will turn into a headwind in the short term, the analysts wrote. Analysts at Nomura Instinet expect IBM to return to
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The company is projecting it will add 9.4 million net subscribers during the fourth quarter. “We’re getting a little better on the forecasting,” CEO Reed Hastings said after the earnings report. “I think by focusing going forward on paid [net adds] we’ll be able to be a little more accurate and focus on the fundamentals.”
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Investors drove shares of Domino’s down by more than 6 percent in premarket trading Tuesday, disappointed in slower-than-expected sales growth during the third quarter. Revenue rose 22.1 percent during the third quarter over the previous year to $786 million, the company said in releasing its earnings before the markets opened Tuesday. It fell short of
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UnitedHealth, the largest U.S. health insurer, on Tuesday reported better-than-expected third-quarter earnings and revenue, driven by higher membership growth for its health insurance plans. UnitedHealth earnings rose 28 percent to $3.41 per share. Total revenue rose 12.4 percent to $56.56 billion. Analysts on average had expected earnings of $3.29 per share on revenue of $56.34
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Walmart on Tuesday cut its earnings outlook, as it previously warned it would do this, citing the impact of its acquisition of Indian e-commerce company Flipkart. The company also said e-commerce growth will be less robust next fiscal year, as it’s still fighting to win more shoppers online. Ahead of its annual investors meeting, Walmart
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Bank of America on Monday beat analysts’ estimate for third-quarter profit and revenue as the nation’s second-largest bank set aside less than expected for loan losses. The bank posted earnings per share of 66 cents, a 43 percent increase from a year earlier, exceeding the 62 cent estimate of analysts surveyed by Refinitiv. Revenue rose
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U.S. regional bank PNC Financial Services beat analysts’ estimates for quarterly profit on Friday, but reported a 6 percent rise in operating expenses as it invested in marketing and retail banking. A strengthening U.S. economy pushed borrowing by businesses higher while keeping loan losses low and interest income rose 5.2 percent to $2.47 billion. PNC’s
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Citigroup reported better-than-expected earnings for the third quarter on Friday as the company’s bottom line received a boost from lower corporate taxes. Here is how the banking giant’s results fared compared with Wall Street estimates: Earnings: $1.73 per share vs $1.69 expected by Refinitiv Revenue: $18.389 billion vs $18.501 billion forecast The company’s stock rose
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J. P. Morgan Chase topped analysts’ expectations for third-quarter earnings and revenue Friday as better-than-expected retail banking results offset weakness in bond trading. The nation’s largest bank by assets reported that revenue rose 5 percent to $27.8 billion, versus the $27.5 billion average estimate of analysts surveyed by Refinitiv. Earnings per share rose 33 percent
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