Wayfair’s sales declined in the first quarter, however, the online furniture retailer managed to decrease its losses after implementing a workforce reduction at the beginning of the year. The company exceeded Wall Street’s expectations in terms of revenue and posted a growth in active customers compared to the previous year. The company reported a loss
Earnings
During Wednesday’s Morning Meeting, the CNBC Investing Club with Jim Cramer discussed the mixed performance of U.S. stocks as the market awaited the Federal Reserve’s policy decision. Fed chief Jerome Powell was scheduled to make remarks during a press conference in the afternoon, with traders looking for hints on future rate cuts. While interest rates
New York Community Bank recently reported a quarterly loss of $335 million, a significant drop from the previous year’s net income of $2.0 billion. This loss was primarily attributed to soured commercial loans and increased expenses, painting a grim picture for the institution. The first-quarter loss of 45 cents per share came as a surprise
Super Micro shares took a hit, dropping by as much as 15% in extended trading after the server maker reported revenue slightly below expectations for its fiscal third quarter. The company’s earnings per share of $6.65 adjusted versus an expected $5.78, while revenue stood at $3.85 billion compared to an anticipated $3.95 billion. Despite this,
As Amazon prepares to release its first-quarter earnings report after the bell on Tuesday, analysts are eagerly awaiting the results. The projected numbers are significant, with expectations for earnings per share to reach 83 cents and revenue to hit $142.5 billion. The focus will also be on specific segments within Amazon’s operations, including Amazon Web
Samsung Electronics recently reported an impressive 932.8% jump in operating profit for the first quarter, driven by the rebound of memory chip prices amidst the optimism surrounding Artificial Intelligence (AI). The company’s revenue stood at 71.92 trillion Korean won, exceeding LSEG estimates by 0.88 trillion Korean won. The operating profit reached 6.61 trillion Korean won,
Alphabet’s first-quarter report was nothing short of impressive, with sales, operating margin, and profits all exceeding Wall Street expectations. The company reported a total revenue of $80.54 billion, a 15.4% increase year over year, surpassing the estimated $78.59 billion. Earnings per share also saw a substantial surge of 62% to $1.89, higher than the projected
Alphabet, Google’s parent company, is set to release its first-quarter earnings after the bell on Thursday. Analysts are expecting earnings per share of $1.51 and revenue of $78.59 billion. Additionally, YouTube advertising revenue is projected to be $7.72 billion and Google Cloud revenue to be $9.35 billion. Traffic acquisition costs are expected to reach $12.74
Bristol Myers Squibb recently reported its first-quarter revenue, which surpassed expectations mainly due to the strong performance of its key drug brands like Eliquis and the launch of new drugs. However, the company also announced a staggering loss for the quarter as a result of one-time charges related to recent deals. In response to this
Deutsche Bank has made a comeback with a 10% increase in first-quarter profit, surpassing expectations and showcasing an ongoing recovery in its investment banking division. Net profit attributable to shareholders was reported at 1.275 billion euros, exceeding the aggregate analyst forecast of 1.23 billion euros. This achievement marks the bank’s highest first-quarter profit since 2013