Walmart Inc. beat profit and sales expectations on Thursday and set a strong full-year earnings forecast, showing steady consumer demand at stores even as supply-chain issues and rampant inflation pressured margins. While Walmart increased prices on some products, the biggest U.S. retailer still undercuts rivals due to its scale and negotiating power with suppliers, helping…
Walmart Tops Estimates as Demand Holds Firm Among Price-Sensitive Consumers
Twitter Falls Short of Revenue Growth Estimates
February 12, 2022
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Twitter released its most recent quarterly report on Thursday, accompanied by an announcement of a $400 million share buyback, provoking market ambivalence that has some investors doubting the company’s future success. The new quarterly report, the first since Parag Agrawal stepped in as CEO of Twitter last November, revealed underwhelming metrics for revenue and user…
Nasdaq Profit Beats Estimates on IPO Rush, Investment Products Demand
January 27, 2022
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Nasdaq Inc. on Wednesday reported a nearly 16 percent jump in fourth-quarter profit that topped Wall Street estimates, buoyed by the frenetic pace of U.S. initial public offerings and strong demand for its investment-related products. Technology, healthcare and financial technology companies led the IPO rush during the quarter, that included the stellar debut of Rivian…
Wells Fargo Beats Profit Estimates on Uptick in Loan Demand, Cost Cuts
January 16, 2022
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Wells Fargo & Co. on Friday beat analysts’ estimates for fourth-quarter profit as a rebound in U.S. economic growth encouraged more customers to take loans and the bank kept a tight lid on costs. Profit jumped 86 percent to $5.8 billion, or $1.38 per share, flattered by a $943 million gain from the sale of…
Visa Beats Profit Estimates on Travel, Online Spending Boom
October 27, 2021
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Visa Inc.’s quarterly profit topped Wall Street expectations on Tuesday, as a recovery in travel and an improving global economic picture drove volume growth at the world’s largest payment processor. But cross-border travel was still well below pre-pandemic levels, Visa said, with regions such as the Asia Pacific remaining closed. “Our business has been on…
Analysts Cut Asia’s Corporate Earnings Estimates on Growth Concerns
October 21, 2021
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Asian companies’ earnings have been downgraded for the first time in 16 months, data shows, on concerns over slowing growth in China and on worries that higher inflation and supply chain disruptions would weigh on profits. According to Refinitiv IBES estimates data, MSCI Asia-Pacific companies’ earnings estimates for the next 12 months have been cut…
BlackRock Quarterly Profit Beats Estimates as Rise in Assets Boosts Fee Income
October 13, 2021
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BlackRock Inc., the world’s largest money manager beat third-quarter profit estimates as an improving economy helped boost its assets under management, driving up fee income. Asset managers have benefited from rising global financial markets in recent quarters as investors put money to work, making the most of the post-pandemic economic reopening, driven by progress on…
JPMorgan Smashes Profit Estimates on M&A Boom, Wealth Management Strength
JPMorgan Chase & Co. reported a bigger-than-expected 24 percent jump in third-quarter profit on Wednesday, boosted by a global dealmaking boom and strength in its wealth management arm. The bank, whose fortunes reflect the health of the U.S. economy, said robust M&A activity offset a slowdown in trading. Its consumer bank also reported a strong…
US Banks Expected to Report Mixed Q3 Results, Iffy Loan Outlook
The largest U.S. lenders are expected to report moderately higher third-quarter profits next week as pandemic-related accounting adjustments that had doubled their earnings earlier this year taper off and business starts to return to normal. Analysts, on average, expect JPMorgan Chase & Co., the country’s largest lender, to report slightly lower profits compared with the…
Tesla Delivers Record 241,300 Vehicles in Q3, Beats Analysts’ Estimates
October 2, 2021
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Tesla Inc. said on Saturday it had delivered a record 241,300 electric cars in the third quarter, beating Wall Street estimates after Chief Executive Elon Musk asked staff to “go super hardcore” to meet targets. Analysts had expected the electric-car maker to deliver 229,242 vehicles, according to Refinitiv data. Tesla has weathered the chip crisis…
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