Micron Technology beat estimates for third-quarter results on Wednesday, powered by demand for its memory chips from the rapidly-growing artificial intelligence sector and an easing supply glut in its traditional PC and smartphone markets. Shares of the company rose more than 2 percent in trading after the bell. They have gained 34 percent this year…
Chipmaker Micron Beats on Demand From Booming AI, Easing Glut
June 29, 2023
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Chipmaker Micron Beats Demand Estimates
June 29, 2023
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Micron Technology beat estimates for third-quarter results on Wednesday, powered by demand for its memory chips from the rapidly-growing artificial intelligence sector and an easing supply glut in its traditional PC and smartphone markets. Shares of the company rose more than 2 percent in trading after the bell. They have gained 34 percent this year…
Exxon Delivers Record 1st-Quarter Profit on Higher Output
HOUSTON—Exxon Mobil Corp. on Friday reported a record first-quarter profit that was more than double a year ago and topped Wall Street estimates as rising oil and gas output overcame a pullback in energy prices from high levels. Oil companies are riding a wave of strong demand and cost-cutting tied to efforts to counter COVID-19…
Chevron Tops Estimates With 1st Quarter Profit Gain Despite Slide in Oil Prices
HOUSTON—Oil major Chevron Corp. beat market expectations on Friday as profit nudged higher in the first quarter, with earnings from refining compensating for slides in energy prices as well as oil and gas production. Net profit climbed 5 percent to $6.57 billion or $3.46 per share. Results beat consensus by 4 percent, according to Refinitiv…
Deutsche Bank to Cut 800 Jobs After Strong 1st Quarter
April 27, 2023
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FRANKFURT—Deutsche Bank is to cut 800 jobs in a new cost-saving drive after reporting a bigger than expected rise in profit for the first quarter, a volatile period globally for finance companies. Germany’s biggest bank produced solid earnings at a time when banks had to be rescued in the United States and in Switzerland. The…
Nestle Beats Quarterly Sales Estimates With Price Hikes
LONDON—Nestle reported slightly better-than-expected first-quarter sales on Tuesday, as the world’s biggest packaged food company increased prices to offset weak sales volumes. The Swiss company, which makes KitKat chocolate bars, Nescafe coffee, and Maggi stock cubes, said sales rose 5.6 percent to 23.5 billion Swiss francs ($26.48 billion) in the quarter ended March 31, beating…
McDonald’s 1st-Quarter Results Beat on Price Hikes, More Visits
McDonald’s Corp. beat Wall Street expectations for quarterly global comparable sales and profit on Tuesday, boosted by higher menu prices and more customer visits. The burger chain’s shares rose about 1 percent in premarket trading, as comparable sales jumped by 12.6 percent for all of McDonald’s geographical segments. Global comparable sales also climbed 12.6 percent,…
PepsiCo’s Price Hikes, Steady Demand Add Sparkle to Annual Forecast
PepsiCo Inc. raised its annual forecasts on Tuesday after price hikes undertaken to offset higher costs and steady demand helped the soda and snack giant beat first-quarter results. The results pointed to a resilient consumer and followed similar quarterly performances by rival Coca-Cola and Nestle. PepsiCo’s shares rose 2 percent in early trading. Average prices…
Credit Suisse Lost $68 Billion in Assets Last Quarter, Outflows Continue
ZURICH—Credit Suisse said on Monday that 61 billion Swiss francs ($68 billion) in assets left the bank in the first quarter and that outflows were continuing, underscoring the challenge faced by UBS Group in rescuing its rival. Customer deposits declined by 67 billion francs in the quarter and the bank noted many matured time deposits…
Musk Says Tesla Will Put Sales Growth Ahead of Profit
Tesla Inc. boss Elon Musk on Wednesday doubled down on the price war he started at the end of last year, saying the electric vehicle (EV) maker would prioritize sales growth ahead of profit in a weak economy. The company posted its lowest quarterly gross margin in two years, missing market estimates, as it slashed…
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