A Cheesecake Factory restaurant in Louisville, Kentucky. Andy Lyons | Getty Images The Cheesecake Factory swung to a loss in its first quarter as the coronavirus pandemic forced the company to close its dining rooms and furlough thousands of its workers. Shares of the company fell less than 1% in extended trading. Here’s what the company
Fast food restaurant chain, Wendy’s seen in Tokyo, Japan. Budrul Chukrut | SOPA Images | LightRocket via Getty Images Wendy’s shares jumped Wednesday after the company reported that its U.S. sales are rebounding from the crippling loss of business during coronavirus shutdowns. After plunging in March and the first two weeks of April, the company’s U.S.
General Motors said Wednesday it eked out a $294 million profit for the first quarter despite the fallout from the coronavirus pandemic that has shuttered factories and devastated sales. The Covid-19 outbreak cut deeply into GM’s performance, costing the largest U.S. automaker $1.4 billion before taxes during the first three months of the year. Of the top U.S.-based
Beyond Meat posted better-than-expected earnings for the first quarter Tuesday but warned that it saw a drop in sales at the end of March as the coronavirus pandemic shuttered restaurants around the country. Given the uncertainty regarding restaurant sales, the company withdrew its earnings forecast for the year. “I am proud of our first-quarter financial results,
Disney reported mixed results for its Q2 2020 earnings after the bell on Tuesday. The stock jumped around on the news of the report but was down more than 2% after hours following the earnings call. The coronavirus pandemic has disrupted Disney’s theme parks and cruise businesses but boosted engagement on its newly-launched streaming service, Disney+.
Pinterest CEO Ben Silbermann speaks in conversation with Matthew Lynley of TechCrunch during the TechCrunch Disrupt SF 2017 on September 18, 2017 in San Francisco, California. Justin Sullivan | Getty Images News | Getty Images Shares of Pinterest fell as much as 19% in after-hours trading on Tuesday after the company reported disappointing user growth
The Walt Disney character Mickey Mouse greets children at Magic Kingdom in Orlando, Florida. Getty Images Last year, Disney’s Parks, Experiences and Consumer Products segment was its fastest-growing profit driver. Now, it could be the company’s biggest drag on earnings, thanks to the Covid-19 outbreak. The coronavirus pandemic has caused many headaches for Disney. The
Niraj Shah, CEO, Wayfair Ashlee Espinal | CNBC Online furniture retailer Wayfair‘s net loss widened in the first quarter as its sales surged nearly 20%, with more people flocking to its website to furnish their home offices and bedrooms during the coronavirus pandemic. Its shares shot up to a 52-week high of $181.39. The stock, which has
DuPont products are shown for sale in a hardware store in National City, California, December 9, 2015. Mike Blake | Reuters Industrial materials maker DuPont on Tuesday doubled its annual cost-savings target and slashed its capital expenditure by about $500 million, as it looks to weather the global trade uncertainties brought on by the coronavirus
Tenet Healthcare on Monday warned of a significant hit from the Covid-19 pandemic in the current quarter, even as the hospital operator’s quarterly profit beat estimates due to a tax benefit from the coronavirus stimulus bill. Patient visits to hospitals declined significantly in the second half of March due to a nationwide lockdown and as
A Tyson Fresh Meats plant employee leaves the plant on Thursday, April 23, 2020, in Logansport, Indiana. Darron Cummings | AP Tyson Foods on Monday reported that its fiscal second-quarter net income fell 15% from a year earlier, as production disruptions weighed on its results. The coronavirus pandemic has hit Tyson’s business hard, forcing the company
Warren Buffett Gerry Miller | CNBC Warren Buffett’s Berkshire Hathaway on Saturday posted a record net loss of nearly $50 billion as the coronavirus pandemic pummeled its common stock investments, but operating profit rose even as COVID-19 hurt its businesses. Berkshire’s first-quarter net loss totaled $49.75 billion, or $30,653 per Class A share, reflecting $54.52
Chevron shares dropped on Friday after the company warned that results will remain depressed as long as oil prices stay low, and said it was further cutting its 2020 capital spending plan. For the first quarter, Chevron reported earnings per share of $1.93, which included $680 million in one-time favorable items, and $31.5 billion in revenue, helped
Popeyes Chicken Sandwich Source: Popeyes Louisiana Kitchen Restaurant Brands posted an over 26% jump in first-quarter comparable sales at Popeyes on Friday, but it said that sales at its breakfast and coffee chain Tim Hortons were hit due to coronavirus-led restrictions. The company, however, warned of a more significant impact from the pandemic on its
Fuel prices are displayed at an Exxon Mobil Corp. gas station in Arlington, Virginia, U.S., on Wednesday, April 29, 2020. Andrew Harrer | Bloomberg | Getty Images Exxon Mobil on Friday reported its first loss in decades as oil prices plunged to historic lows following a drop-off in demand caused by the coronavirus. The oil giant
Family Dollar Store, anti-bacterial wipes and cleaning products. Jeff Greenberg | Getty Images Clorox on Friday reported that its fiscal-third quarter sales climbed 15% as consumer demand for its cleaning products soared in response to the coronavirus pandemic. The company also raised its fiscal 2020 forecast. Shares of the company rose 3.6% in premarket trading.
A research associate performs a buffer exchange for protein formulation at AMGEN, a drug research and development laboratory. Ricardo Dearatanha | Los Angeles Times | Getty Images Amgen on Thursday reported better-than-expected first-quarter results and said it plans to study psoriasis drug Otezla as a potential treatment for Covid-19, the respiratory disease caused by the
Visa on Thursday decided to pull its full-year outlook on rising unemployment numbers and more people conserving cash during the Covid-19 pandemic even while posting a second-quarter profit that rose 4%. In January, the world’s No. 1 payments processor forecast revenue growth in the low-double digits for the full year. “Our prior outlook for fiscal
A United Airlines plane prepares to take off at the Benito Juarez International airport in Mexico City, on March 20, 2020. Pedro Pardo | AFP | Getty Images United Airlines Thursday posted its biggest quarterly loss since 2008 after the coronavirus devastated travel demand. The Chicago-based airline and its competitors are facing a 95% decline in U.S. air
Amazon reported its first-quarter earnings after the bell on Thursday, revealing the pandemic’s impact on the business that has been a rare bright spot on the stock market. The stock fell about 5% after hours after missing estimates on earnings while beating revenue expectations. Here’s what Amazon reported: Earnings per share (EPS): $5.01 Revenue: $75.45 billion
Apple shares were down more than 2% during extended trading on Thursday after the company reported a slight increase in second-quarter revenue to $58.3 billion, during a period in which supply and demand for Apple’s products was negatively affected by the Covid-19 pandemic. Here’s how Apple did: EPS: $2.55 per share, adjusted Revenue: $58.3 billion iPhone revenue: $28.96
Apple now has $192.8 billion cash on hand, according to the company’s fiscal second-quarter earnings report released Thursday. That’s down 7.4% from its fiscal first quarter of 2020, when the company reported a $207.06 billion cash pile. Apple has continuously hosted one of the largest cash piles among U.S. companies but is facing pressure from the Covid-19 pandemic.
Andrew Jassy, chief executive officer of web services for Amazon.com Inc., speaks during the 2019 CERAWeek by IHS Markit conference in Houston on March 11, 2019. F. Carter Smith | Bloomberg | Getty Images Amazon’s market-leading cloud business crossed $10 billion in revenue for the first time in the first quarter. At $10.22 billion, Amazon
Twitter reported first-quarter 2020 earnings Thursday that beat estimates despite an expected hit to its ads business due to the coronavirus pandemic. The stock was up as much as 12% during premarket trading on news of the report, but fell more than 6% during the earnings call as executives offered few signs of recovery or stability
McDonald’s on Thursday said its first-quarter earnings fell 17% as the coronavirus pandemic led to restaurant closures and plunging sales. Sales trends are showing signs of improvement in some markets, like the United States, but executives expect steeper global same-store sales declines in the second quarter than in March. “It’s really a country-by-country situation,” CEO Chris
Tesla shares rose more than 9% after hours as the company showed its third consecutive quarter with a profit. Here’s how the company did: Earnings per share (EPS): $1.24 per share, ex-items Revenue: $5.99 billion Wall Street was expecting an adjusted loss of 36 cents per share and revenue of $5.9 billion for Q1, according
Facebook shares rose as much as 10% in after-hours trading on Wednesday after the company announced its first-quarter results. Earnings (EPS): $1.71 Revenue: $17.74 billion Daily active users (DAUs): 1.73 billion Monthly active users (MAUs): 2.6 billion Average revenue per user (ARPU): $6.95 Analysts surveyed by Refinitiv expect $1.75 in earnings per share and $17.41
People wear facial mask walking past a KFC restaurant, which has resumed its outdoor dining area. For the COVID-19 epidemic situation is under control in China, most of shopping malls and stores are resuming business. Zhang Peng | Getty Images Yum Brands on Wednesday reported that global same-store sales fell 7% in the first three
Starbucks on Tuesday said that its fiscal second-quarter global same-store sales fell 10% as the coronavirus hit sales in its two largest markets, the United States and China. The company also warned that its fiscal third-quarter results will take an even bigger hit from the pandemic, even as sales in China begin to recover. Shares of
Alphabet shares rose as much as 7% in extended trading on Tuesday after the company reported earnings for the first quarter and sounded a cautiously optimistic note that a steep drop-off in ad revenues in March was starting to moderate. Here’s how the company did: Earnings: $9.87 per share, adjusted Revenue: $41.16 billion Cloud revenue: