Earnings

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The second significant change to Alphabet’s balance sheet comes because of a new accounting standard for equity security investments. Under the new rule, called Accounting Standards Update 2016-01, Alphabet has to report the unrealized gains and losses from its investments on its income statement. For example, Alphabet bought a stake in both ride-hailing start-up Uber
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Kirk McKoy | Los Angeles Times | Getty Images An oil rigger at a Schlumberger field prepares pipes in Midland, Texas. The world’s largest oilfield services provider Schlumberger reported an 88 percent rise in quarterly profit on Friday as rising crude oil prices encouraged its North American clients to ramp up spending. Net profit attributable
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EPS: 11 cents, expected by analysts surveyed by Thomson Reuters. Revenue: $27.45 billion expected by analysts surveyed by Thomson Reuters. The embattled industrial conglomerate saw its shares drop to the lowest level since July 2009 as Wall Street and the media alike questioned the risks lurking within GE Capital’s portfolio. The stock has slid 21
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Pier 1 Imports‘ stock plummeted more than 20 percent Thursday morning after the company reported sales that missed analysts’ expectations, also ceasing its dividend payouts. The home furnishings retailer said halting its dividend payments to investors “will enable the company to allocate greater resources toward implementing its three-year strategic plan to drive sales and earnings
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Bank of New York Mellon reported a better-than-expected first-quarter profit on Thursday, as surging equity markets and a weaker dollar helped drive double-digit growth in its assets servicing and management businesses. Shares of the world’s largest custodian bank rose 3.3 percent at $54 in premarket trading. Asset servicing revenue surged 13 percent to $1.52 billion,
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Shares of aluminum producer Alcoa jumped almost four percent in after-hours trade after the company reported first quarter earnings that beat expectations. Here’s how the company did compared with what Wall Street expected: EPS: 0.77 vs. 0.70 cents. Revenue: $3.09 billion vs. $3.08 billion. In its earnings release, the Pittsburgh, Pennsylvania-based company is projecting global
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AmEx has spent heavily on rewards to lure customers as it faces more competition from banks like J.P. Morgan Chase and Citigroup. Here are the results: —EPS: $1.86, compared to an estimate of $1.71 from Thomson Reuters —Revenue: $9.72 billion, compared to an estimate of $9.46 billion, according to Thomson Reuters In January, former CEO
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Daniel Acker | Bloomberg | Getty Images An employee walks near an Abbott Laboratories sign at the company’s headquarters complex in Abbott Park, Illinois. Abbott Laboratories reported better-than-expected quarterly profit and sales, helped by growth across its businesses and device launches. The diversified health-care company reported net earnings of $418 million, or 23 cents per
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Johnson & Johnson topped Wall Street’s first-quarter earnings and revenue expectations, fueled by strong pharmaceutical growth. Sales of some of its drugs boomed, offsetting weaknesses for some of its treatments that are facing competitive pressure. Vision care sales, including contacts and surgical products, helped its medical device business. J&J’s consumer division sales grew, but baby
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Netflix has relied on international growth and heavy investments in original content to drive subscriptions — and Monday’s results provided an update on their effectiveness. Netflix’s addition of more than 7.4 million international subscribers set a new record, marking growth of 50 percent from a year ago. Chief content officer Ted Sarandos said Netflix has
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UnitedHealth: After speaking with its CEO, Cramer regards UnitedHealth as a “great” company with a multiyear trajectory and “an incredibly consistent track record of surprising Wall Street with good numbers.” “If you can get it in the teens, where my charitable trust did recently, I think that’s a terrific price,” he said in anticipation of
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The company said its first-quarter earnings rose 28 percent year over year, “driven in part by [a] lower tax rate.” BlackRock’s effective tax rate for the quarter was 19.6 percent last quarter, down from 23.8 percent in the first quarter of 2017. BlackRock also said its operating margin expanded to 38.4 percent in the quarter
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“Tax reform will provide the largest boost to previously high-tax rate sectors such as Telecom Services and Consumer Discretionary,” Kostin wrote. “Consensus expects the reduced tax rate will contribute 7 percentage points to full-year EPS growth of 19 percent. However, our 14 percent top-down 2018 EPS growth estimate in part reflects the fact that all
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Canada’s BlackBerry beat analysts’ profit estimates for its fourth quarter, and said it expects strong billings at its high-margin software and services business for the full year, sending its U.S.-listed shares up 5 percent. The company, which reinvented itself after customers ditched its smartphones for Apple’s iPhones and Android devices, said revenue from its enterprise
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Lululemon Athletica reported quarterly earnings and revenue that beat analysts’ expectations on Tuesday, as the athleisure brand reported success on a number of its key initiatives, including its expansion into menswear, online and internationally. The athleisure brand reported net revenue of $929 million, beating expectations of $912 million. That figure represented an increase of 18
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