Yum Brands, parent company of Taco Bell, KFC, and Pizza Hut, reported a bigger-than-expected drop in same-store sales for the second quarter. The decline was attributed to sticky inflation and a shift towards home-cooked meals …
Continue readingTag: Q2 Earnings
Altice USA Shares Plunge After Disappointing Q2 Earnings
Altice USA (ATUS) shares dropped by 3.8% in pre-market trading on Tuesday after the cable operator reported second-quarter earnings that fell short of Wall Street expectations. The company reported adjusted earnings per share (EPS) of …
Continue readingPayPal Raises Profit Forecast Again, Fueled by Resilient Spending and Cost Cuts
PayPal has boosted its full-year profit forecast for the second time this year, indicating confidence in consumer spending and the effectiveness of its cost-cutting initiatives. The company’s stock price jumped 4% in pre-market trading following …
Continue readingBristol Myers Squibb Beats Expectations on New Drug Growth
Bristol Myers Squibb (BMS) has reported strong second-quarter earnings, exceeding analyst expectations. The pharmaceutical giant’s success is attributed to the robust performance of its new drugs, including Reblozyl and Camzyos, as well as its top-selling …
Continue readingSouthwest Airlines Reports Q2 Profit Beat, Announces Major Shift to Premium Seating
Southwest Airlines Co. (LUV) has reported a second-quarter profit that exceeded analysts’ expectations, revealing a significant shift in the airline’s traditional business model. The carrier announced plans to introduce both assigned and premium seating options …
Continue readingVerizon Adds More Subscribers Than Expected, Driven by Customizable Plans
Verizon Communications exceeded analyst expectations for wireless subscriber additions in the second quarter of 2023. The company added 148,000 net monthly bill-paying wireless phone subscribers, driven by strong demand for its flexible “myPlan” offering. The …
Continue readingAmerican Express Q2 Profit Soars as Wealthy Customers Spend Big
American Express (AXP) delivered a strong second-quarter performance, exceeding analysts’ expectations for profit. The credit card giant reported $3.02 billion in earnings, marking a 39% year-over-year increase. This robust performance was fueled by the continued …
Continue readingNokia Q2 Profit Plunges 32% Amid 5G Demand Slump, But Sees Recovery in 2H
Nokia reported a significant decline in its second-quarter operating profit, falling 32% year-on-year to €423 million. The Finnish telecoms equipment maker attributed the drop to weakening demand for 5G equipment, a trend impacting the entire …
Continue readingJohnson & Johnson Beats Earnings Estimates on Strong Drug Sales, But Challenges Loom
Johnson & Johnson (J&J) reported strong second-quarter earnings, exceeding Wall Street estimates on robust drug sales. Key drivers included the cancer treatment Darzalex and the blockbuster psoriasis drug Stelara, which saw sales increase by 18.4% …
Continue readingWells Fargo Misses Interest Income Estimates as Deposit Costs Rise, Shares Plunge
Wells Fargo’s second-quarter earnings report revealed a mixed bag of results. While the bank exceeded profit expectations, it fell short of analysts’ estimates for interest income due to rising deposit costs. Net interest income (NII), …
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