DraftKings, a well-known mobile betting platform, recently made headlines by announcing a tax on consumers in states with high sports betting tax rates. The company revealed its plans to implement a gaming surcharge on winning bets in states where the tax rate is above 20%. This decision is aimed at boosting the profitability of DraftKings
Earnings
Coterra Energy fell short of Wall Street expectations for both sales and earnings in the second quarter. However, it is worth noting that production volumes and cash generation exceeded expectations during this period. Revenue for the three months ending on June 30 witnessed a 7% year-over-year increase, amounting to $1.27 billion. Despite this growth, the
Exxon Mobil recently announced their second-highest results for the second quarter in the past decade. The company attributed this success to achieving record production levels in Guyana and the Permian Basin. CEO Darren Woods highlighted that the oil production in the second quarter was the highest level since the Exxon and Mobil merger in 1999.
The recent earnings reports from semiconductor companies have shed light on the varied effects of the boom in artificial intelligence on the industry. While some companies have exceeded expectations, others have fallen short, reflecting the intricate dynamics of the semiconductor supply chain and the unequal dominance of certain players in different sectors of the market.
Online home goods company Wayfair faced a decline in sales in its fiscal second quarter, signaling a troubling trend in the industry. The CEO of Wayfair, Niraj Shah, referred to the current slowdown in the home goods category as “unprecedented” and compared it to the 2008 financial crisis. This decline has raised concerns among investors
Barclays reported a second-quarter net profit attributable to shareholders of £1.2 billion, which was slightly lower than the same period last year. The net interest income in the core UK units fell, leading to a decline from the £1.3 billion logged in the second quarter of 2023. However, the revenue for the latest quarter came
Meta is set to announce its second-quarter earnings, which are highly anticipated in the tech industry. Analysts are predicting earnings per share of $4.73 and revenue of $38.31 billion. The company is expected to show sales growth of 20% from the previous year, as it continues to recover from a challenging 2022. Advertising revenue is
Boeing, a prominent aerospace manufacturer, recently reported a disappointing second-quarter performance, falling short of analysts’ expectations. The company announced a larger-than-expected loss per share of $2.90, compared to the estimated $1.97 per share. Additionally, Boeing’s revenue for the quarter was reported at $16.87 billion, lower than the projected $17.23 billion. This underperformance is primarily attributed
Procter & Gamble recently reported mixed quarterly results, but one significant highlight was the increase in the company’s volume for the first time in over two years. This rise in volume is crucial as it excludes pricing, providing a more accurate reflection of demand compared to sales. The company’s performance in the quarter was both
British petroleum company, BP, has reported a stronger-than-expected net profit for the second quarter. The oil and gas giant exceeded analyst expectations by posting an underlying replacement cost profit of $2.8 billion. This performance is particularly impressive considering the challenges faced, such as weak refining margins and lower oil trading results. Despite warning of lower