Jonathan Wong
The Latest
-
Amazon's Quarterly Profits Soar, But Revenue Misses Estimates
Amazon reported a surge in its quarterly profits on Thursday, but the company fell short of revenue estimates, leading to a dip in stock prices in after-hours trading. The Seattle-based tech giant revealed that it earned $13.5 billion in the second quarter, exceeding the $10.99 billion anticipated by industry analysts surveyed by FactSet. This marks a significant increase from the $6.7 billion earned during the same period last year. Earnings per share for the quarter stood at $1.26, surpassing the expected $1.03. 
Amazon reported a surge in its quarterly profits on Thursday, but the company fell short of revenue estimates, leading to a dip in stock prices in after-hours trading. The Seattle-based tech giant revealed that it earned $13.5 billion in the second quarter, exceeding the $10.99 billion anticipated by industry analysts surveyed by FactSet. This marks a significant increase from the $6.7 billion earned during the same period last year. Earnings per share for the quarter stood at $1.26, surpassing the expected $1.03. -
Meta Shares Surge on Strong Q2 Earnings and Optimistic Revenue Forecast
Meta, formerly known as Facebook, saw its shares jump by over 6% on Thursday following the release of second-quarter earnings that surpassed Wall Street expectations and a promising revenue forecast. The tech giant reported a revenue increase of 22%, reaching $39.07 billion, up from $32 billion the previous year. This exceeded analysts' predictions of $38.31 billion, according to data from LSEG. 
Meta, formerly known as Facebook, saw its shares jump by over 6% on Thursday following the release of second-quarter earnings that surpassed Wall Street expectations and a promising revenue forecast. The tech giant reported a revenue increase of 22%, reaching $39.07 billion, up from $32 billion the previous year. This exceeded analysts' predictions of $38.31 billion, according to data from LSEG. -
Boeing Appoints Kelly Ortberg as CEO Amid Q2 Revenue Miss and Loss
Boeing announced Wednesday that Kelly Ortberg, former CEO of Rockwell Collins, will take the helm as the new president and CEO starting August 8. Ortberg succeeds Dave Calhoun, who stepped down following a tumultuous period for the aerospace giant. Boeing also reported a wider-than-expected second-quarter loss and revenue miss, reflecting the numerous challenges Ortberg will face as he steps into his new role. 
Boeing announced Wednesday that Kelly Ortberg, former CEO of Rockwell Collins, will take the helm as the new president and CEO starting August 8. Ortberg succeeds Dave Calhoun, who stepped down following a tumultuous period for the aerospace giant. Boeing also reported a wider-than-expected second-quarter loss and revenue miss, reflecting the numerous challenges Ortberg will face as he steps into his new role. -
AMD Shares Surge on Record Data Center Revenue Driven by AI Demand
Advanced Micro Devices (AMD) reported impressive second-quarter results, fueled by record-breaking revenue in its data center segment. The chipmaker posted revenue of $5.8 billion, surpassing analysts' expectations and marking a 9% increase from the same period last year. Despite a net income miss, with $265 million or 16 cents per share falling short of projections, the company's adjusted earnings of 69 cents per share exceeded estimates. 
Advanced Micro Devices (AMD) reported impressive second-quarter results, fueled by record-breaking revenue in its data center segment. The chipmaker posted revenue of $5.8 billion, surpassing analysts' expectations and marking a 9% increase from the same period last year. Despite a net income miss, with $265 million or 16 cents per share falling short of projections, the company's adjusted earnings of 69 cents per share exceeded estimates. -
Starbucks Misses Revenue Estimates as Same-Store Sales Decline for Second Consecutive Quarter
Starbucks reported quarterly revenue that fell short of analysts' expectations, marking the second consecutive quarter of declining same-store sales. The coffee giant faced weaker demand both domestically and internationally. Despite the revenue miss, the company's results were better than investors feared, leading to a more than 5% rise in extended trading. 
Starbucks reported quarterly revenue that fell short of analysts' expectations, marking the second consecutive quarter of declining same-store sales. The coffee giant faced weaker demand both domestically and internationally. Despite the revenue miss, the company's results were better than investors feared, leading to a more than 5% rise in extended trading. -
Microsoft Q4: Cloud Revenue Surges Amid Hardware Sales Slump, Shares Down 5% in After-hours Trading
Despite these gains, Microsoft's shares fell 5% in after-hours trading, reflecting investor concerns over slower-than-expected growth in key areas. 
Despite these gains, Microsoft's shares fell 5% in after-hours trading, reflecting investor concerns over slower-than-expected growth in key areas. -
Merck Faces Stock Decline Amid Gardasil Sales Slump in China and Adjusted Profit Forecast
Merck & Co. experienced its steepest stock drop in three years following a mixed second-quarter earnings report that highlighted lower-than-expected sales of its Gardasil HPV vaccine in China. Despite surpassing profit and revenue estimates, the disappointing performance of Gardasil overshadowed the company's quarterly achievements, leading to a significant market reaction. 
Merck & Co. experienced its steepest stock drop in three years following a mixed second-quarter earnings report that highlighted lower-than-expected sales of its Gardasil HPV vaccine in China. Despite surpassing profit and revenue estimates, the disappointing performance of Gardasil overshadowed the company's quarterly achievements, leading to a significant market reaction. -
Spirit Airlines Revamps Services with Premium Perks to Compete with Larger Rivals
In a bold move to elevate its brand and attract a broader range of travelers, Spirit Airlines announced a significant overhaul of its fare structure on Tuesday. Known for its budget-friendly approach, the Florida-based carrier is set to introduce new service packages that bundle various amenities previously offered à la carte. This strategic shift comes as Spirit grapples with challenges including a blocked takeover by JetBlue, engine recalls, and stiff competition in a saturated domestic market. 
In a bold move to elevate its brand and attract a broader range of travelers, Spirit Airlines announced a significant overhaul of its fare structure on Tuesday. Known for its budget-friendly approach, the Florida-based carrier is set to introduce new service packages that bundle various amenities previously offered à la carte. This strategic shift comes as Spirit grapples with challenges including a blocked takeover by JetBlue, engine recalls, and stiff competition in a saturated domestic market. -
Procter & Gamble Reports Earnings Beat but Faces Challenges in Chinese Market
Procter & Gamble (P&G) reported its fiscal fourth-quarter earnings on Tuesday, exceeding Wall Street's expectations in terms of earnings per share but falling short in revenue, largely due to disappointing demand in China. This mixed performance has led to a 5% drop in the company's stock during morning trading. 
Procter & Gamble (P&G) reported its fiscal fourth-quarter earnings on Tuesday, exceeding Wall Street's expectations in terms of earnings per share but falling short in revenue, largely due to disappointing demand in China. This mixed performance has led to a 5% drop in the company's stock during morning trading. -
Pfizer Beats Earnings Expectations, Raises Full-Year Forecast Amid Cost-Cutting Measures
Pfizer Inc., the pharmaceutical giant known for its significant contributions during the COVID-19 pandemic, has reported second-quarter earnings and revenue that surpassed Wall Street expectations. The company also raised its full-year outlook, driven by strong sales of its COVID-19 antiviral pill Paxlovid, robust performance from its non-COVID products, and a broad cost-cutting initiative. 
Pfizer Inc., the pharmaceutical giant known for its significant contributions during the COVID-19 pandemic, has reported second-quarter earnings and revenue that surpassed Wall Street expectations. The company also raised its full-year outlook, driven by strong sales of its COVID-19 antiviral pill Paxlovid, robust performance from its non-COVID products, and a broad cost-cutting initiative.
