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☆ Oracle shares soar 13% on better-than-expected quarterly earnings
▼ + stars: | 2024-03-11 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Larry Ellison, co-founder and executive chairman of Oracle Corp., speaks during the Oracle OpenWorld conference in San Francisco on Oct. 22, 2018. Oracle reported quarterly earnings on Monday that exceeded Wall Street's expectations. Analysts were expecting $1.64 in adjusted earnings per share, according to LSEG. The company's cloud revenue, which is reported as part of the cloud services unit, rose 25% year-over-year to $5.1 billion, Oracle said. Prior to Monday's report, Oracle shares were up 8.7% for the year, slightly outperforming the S&P 500.

Persons: Larry Ellison, Oracle, Safra Catz, Catz, Ellison Organizations: Oracle Corp, Oracle, Revenue, Microsoft Locations: San Francisco, LSEG

☆ Dell shares soar 15% after beating earnings expectations, cites rising demand for AI servers
▼ + stars: | 2024-02-29 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Shares of Dell Technologies popped more than 15% during extended trading Thursday after the company released fourth-quarter results that beat analysts' estimates and showed strong demand for its artificial intelligence servers. The company reported net income $1.16 billion, up 89% from the $614 million it posted in the same period last year. Servers and networking revenue made up the bulk of that, with $4.9 billion in revenue driven by "AI-optimized servers." The company's Client Solutions Group (CSG) reported $11.7 billion for the quarter, down 12% year over year. For its first quarter, Dell said during its quarterly call with investors that it expects to report revenue between $21 billion and $22 billion.

Persons: LSEG, Yvonne McGill, Jeff Clarke, Dell Organizations: Dell Technologies, LSEG, Solutions, CNBC PRO

☆ Unity shares sink on weak guidance
▼ + stars: | 2024-02-26 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

Unity Software shares plummeted 17% in extended trading on Monday after the gaming software company issued weaker-than-expected guidance for the current quarter. The company said going forward, it would only provide revenue guidance for its "strategic portfolio," which includes its engine, cloud and monetization business units. The company said first-quarter guidance for its strategic portfolio would come in between $415 million and $420 million. "We are right sizing our cost structure to grow from a healthy financial position," Unity said in a shareholder letter. WATCH: Unity Software cutting 25% of workforce

Persons: Unity, John Riccitiello, James Whitehurst, Riccitiello's Organizations: Unity Software, Luna, Red Hat, Unity, Software

☆ Trade Desk shares soar on revenue beat and strong guidance
▼ + stars: | 2024-02-15 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

Shares of The Trade Desk jumped over 18% on Thursday after the advertising technology company issued strong first-quarter guidance and beat on revenue. Here's what analysts were expecting:Earnings per share: 41 cents, adjusted vs. 43 cents expected by LSEG, formerly known as Refinitiv41 cents, adjusted vs. 43 cents expected by LSEG, formerly known as Refinitiv Revenue: $606 million vs. $582 million expected by LSEGFourth-quarter sales jumped 23% from $491 million a year ago. Net income rose 37% to $97 million, or 19 cents a share, from $71 million, or 14 cents, in the same quarter a year earlier. The Trade Desk said first-quarter sales will be at least $478 million, topping analyst estimates of $452 million, according to LSEG. WATCH: Connected TV is the most effective advertising in the world right now.

Persons: Jeff Green, that's Organizations: LSEG, CTV, Meta

☆ Airbnb reports better-than-expected revenue and beats on guidance
▼ + stars: | 2024-02-13 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +3 min

Airbnb reported better-than-expected revenue for the fourth quarter on Tuesday and issued an optimistic forecast for the current period. Airbnb posted adjusted earnings of $738 million in the fourth quarter. Analysts were expecting $645 million, according to StreetAccount. Airbnb said revenue in the first quarter will be between $2.03 billion and $2.07 billion, while Wall Street was expecting $2.03 billion, according to LSEG. Gross booking value, which Airbnb uses to track host earnings, service fees, cleaning fees and taxes, came in at $15.5 billion in the fourth quarter.

Persons: Brian Chesky, Airbnb, It's Organizations: Airbnb Inc, Hope, Revenue, Hamas, Asia Locations: Atlanta , Georgia, Israel, America

☆ PayPal issues disappointing guidance even as fourth-quarter earnings top estimates
▼ + stars: | 2024-02-07 | by ( Alex Koller | ) www.cnbc.com time to read: +2 min

PayPal reported better-than-expected fourth-quarter results Wednesday, but issued guidance that was a bit below estimates. The number of active accounts fell 2% to 426 million, trailing analyst expectations of 427.17 million, according to StreetAccount. PayPal provided guidance for the full year and first quarter that fell just short of expectations. The company anticipates full-year earnings of $5.10 per share, below the $5.48 analysts expected, according to LSEG. For the first quarter, PayPal estimated year-over-year earnings per share growth would fall in the mid-single digits, compared with a consensus estimate of 8.7%.

Persons: Alex Chriss Organizations: PayPal, LSEG, Revenue, StreetAccount, Intuit Locations: San Jose , California

☆ Palantir stock jumps 17% on revenue beat
▼ + stars: | 2024-02-05 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Palantir shares surged more than 17% in after-hours trading after the company reported fourth-quarter earnings that beat analysts' expectations for revenue. Palantir said it expects to report between $612 million and $616 million in revenue during its first quarter, and it guided revenue for the full year between $2.65 billion and $2.67 billion. Wall Street was expecting $617 million during the first quarter and $2.66 billion in revenue for the full year. Palantir, known for its defense and intelligence work with the U.S. government, said its U.S. commercial revenue grew 70% year over year. Last quarter, Palantir reported its fourth-straight quarter of profitability, which means it is now eligible for inclusion in the S&P 500.

Persons: Palantir, Alex Karp, LSEG, Karp Organizations: U.S, Senate, Intelligence, Capitol, Washington , D.C, LSEG, AIP, U.S . Locations: Washington ,, U.S

☆ Amazon set to report fourth-quarter earnings after the bell
▼ + stars: | 2024-02-01 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +4 min

Amazon is slated to report fourth-quarter earnings Thursday after the closing bell. In January, Amazon said it would let go of employees across units including Prime Video, MGM Studios, Twitch, Audible and Buy with Prime. In November, Amazon launched "Q," an AI chatbot for businesses, as well as new Trainium chips for AI applications. Discovery 's Max by introducing ads to Prime Video programming. Amazon will discuss the report on a conference call with analysts at 5:30 p.m.

Persons: Andy Jassy, Amazon, Evercore, Jassy's, Brian Olsavsky, Max Organizations: Web, Amazon, MGM Studios, Revenue, National Retail Federation, Netflix, Disney, Hulu, Warner Bros, Citi Locations: Ukraine

☆ UPS announces 12,000 job cuts, says package volume slipped last quarter
▼ + stars: | 2024-01-30 | by ( Laya Neelakandan | ) www.cnbc.com time to read: +2 min

UPS fell short of Wall Street revenue estimates Tuesday, reporting drops in shipping volume, both internationally and domestically, in its fourth-quarter earnings report. The company also announced 12,000 layoffs as part of an effort to align resources in 2024. The workforce reductions will save the company about $1 billion in costs, CEO Carol Tomé said on a company earnings call. Adjusting for one-time items related to pensions and intangible assets, UPS earned $2.47 per share. The company reported a 7.4% drop in average daily volume domestically and an 8.3% decrease internationally.

Persons: Carol Tomé, Tomé Organizations: United Parcel Service, UPS, Teamsters Locations: Cape Cod, Orleans , Massachusetts, Europe

☆ Netflix shares pop 10% as streamer adds 13.1 million subscribers, tops revenue estimates
▼ + stars: | 2024-01-23 | by ( Sarah Whitten | ) www.cnbc.com time to read: +4 min

Netflix now has 260.8 million paid subscribers, a new record for the service, it said when it reported quarterly results after the bell Tuesday. The subscriber growth easily tops the 8.76 million paid membership adds Netflix reported in the third quarter. The company also blew past Wall Street's fourth-quarter expectations of 8 million to 9 million. The company posted revenue of $8.83 billion for the quarter, up from $7.85 billion in the year-ago quarter. That's up from 15 million that the company reported in November.

Persons: Wall, We're, foresees, Amy Reinhard, it's, Greg Peters, Peters Organizations: ANGELES, Netflix, Wall, LSEG, U.S ., WWE Raw, Investors, Variety Entertainment, CES

☆ Trade Desk shares plunge about 30% on weak guidance tied to auto, Hollywood strikes
▼ + stars: | 2023-11-09 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +3 min

The Trade Desk shares plunged about 30% in after-hours trading on Thursday after the ad-tech company issued fourth-quarter revenue guidance that fell well short of analysts' estimates. A Trade Desk spokesperson told CNBC that guidance came "in slightly below consensus, largely because the transitory cautiousness from advertisers in certain verticals, such as U.S. auto and media/entertainment due to the strikes." The United Auto Workers launched targeted strikes at select facilities against the Detroit automakers beginning Sept. 15, and then expanded the stoppages. Trade Desk said third-quarter sales jumped 25% from $493 million a year earlier. Net income increased to $39 million, or 8 cents a share, from $16 million, or 3 cents, a year earlier.

Persons: Jeff Green, Green, Susan Li Organizations: LSEG, CNBC, United Auto Workers, Detroit, UAW, General Motors, Ford Motor, Guild of America, Trade, Meta, Comcast, Cisco Systems Locations: Israel

☆ Disney is set to report earnings after the bell – here's what to expect
▼ + stars: | 2023-11-08 | by ( Sarah Whitten | ) www.cnbc.com time to read: +2 min

The "Partners" statue of Walt Disney and Mickey Mouse, at Cinderella Castle at the Magic Kingdom, at Walt Disney World, in Lake Buena Vista, Florida, photographed Saturday, June 3, 2023. In its previous quarter, Disney recorded $2.65 billion in one-time charges and impairments, dragging the company to a rare quarterly net loss. Disney is also feeling pressure from activist investor Nelson Peltz, who is seeking to gain more control of the company's board. Perlmutter is one of the largest single shareholders in the company and has entrusted his stake in Disney to Peltz's Trian Fund Management. Tune in: CNBC's Julia Boorstin is set to interview Disney CEO Bob Iger at 4:05 p.m.

Persons: Walt Disney, Mickey Mouse, Bob Iger's, Nelson Peltz, There's, Ike Perlmutter, Perlmutter, Julia Boorstin, Bob Iger Organizations: Magic, Walt Disney World, –, Netflix, Disney, Marvel Entertainment, Trian Fund Management, Comcast, CNBC Locations: Lake Buena Vista , Florida, Hulu, Disney, NBCUniversal

☆ Shares of Roblox pop 17% after company's third-quarter results beat estimates
▼ + stars: | 2023-11-08 | by ( Ashley Capoot | ) www.cnbc.com time to read: +1 min

Shares of Roblox popped 17% in premarket trading Wednesday after the company released third-quarter results that beat on top and bottom lines and showed strong user growth. Roblox reported $702 million in bookings in the year-ago quarter. Roblox reported 70.2 million average daily active users, up 20% from a year earlier. The company reported a net loss of $277.2 million for the quarter, which ended Sept. 30. Roblox reported a net loss of $297.8 million for the same period in 2022.

Persons: Roblox Organizations: LSEG Locations: East Asia, Europe

☆ Paramount stock rises after strong earnings report, adding to blockbuster day
▼ + stars: | 2023-11-02 | by ( Laya Neelakandan | ) www.cnbc.com time to read: +4 min

Paramount Global's stock moved higher in extended trading Thursday after it reported strong revenue and subscription trends in its third-quarter earnings report. In the third quarter, streaming service Paramount+ saw 2.7 million net additions to its 63 million total subscriber count. Adjusted for one-time items, earnings per share were 30 cents during the period. "Looking ahead, we remain on the path to achieving significant total company earnings growth in 2024." Paramount and other media stocks closed higher Thursday as streaming device maker Roku surged 30% following its own stellar earnings report.

Persons: Bob Bakish, Roku, there's, Bakish, Naveen Chopra, Chopra, we've, Simon & Schuster Organizations: Paramount, Columbia, CBS, Showtime, BET, Nickelodeon, SAG, WGA, Netflix, KKR, CNBC PRO Locations: Hollywood , California

☆ Palantir shares pop 14% after its third-quarter results beat estimates
▼ + stars: | 2023-11-02 | by ( Ashley Capoot | ) www.cnbc.com time to read: +1 min

Alex Karp, co-founder and CEO of Palantir arrives for a US Senate bipartisan Artificial Intelligence (AI) Insight Forum at the US Capitol in Washington, DC, on September 13, 2023. Shares of Palantir popped 14% in premarket trading Thursday, after the company released third-quarter earnings that beat analysts' expectations and raised full-year revenue guidance. The company reported a net income of $72 million, or 3 cents per share, compared with a net loss of $123.9 million in the year-ago quarter. Palantir, which is known for its work with the government, said its U.S. commercial customer count increased 37% year over year, growing from 132 customers to 181. In its second quarter, Palantir said it expected $2.212 billion for the full year, above the midpoint of its forecast from May.

Persons: Alex Karp, Palantir, LSEG Organizations: Artificial Intelligence, LSEG Locations: Washington ,

☆ Nikola's loss widens following a costly recall of its battery-electric semi trucks
▼ + stars: | 2023-11-02 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +2 min

Electric truck maker Nikola said Thursday that it has received nearly 300 orders for its new hydrogen fuel cell semitruck — but it's facing what will be a costly recall of its earlier battery-electric trucks. Nikola recalled all of its Tre battery-electric trucks, 209 in total, in August following a fire caused by a coolant leak in a truck's battery pack. It expects to resume delivering battery-electric trucks to customers in the first quarter next year. Despite the recall, a dealer ordered 47 battery-electric trucks during the third quarter, Nikola said. On an adjusted basis, excluding stock-based compensation, it lost 30 cents per share.

Persons: Nikola, Steve Girsky Organizations: Wall Street, LSEG, CNBC PRO Locations: California

☆ Airbnb beats on revenue but offers weaker-than-expected guidance
▼ + stars: | 2023-11-01 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Airbnb shares slipped more than 3% in after-hours trading Wednesday after the company reported stronger than expected revenue, buoyed by currency tailwinds, but provided weaker-than-expected guidance for the upcoming fiscal quarter. That may not be comparable to the $2.10 expected by analysts according to LSEG, formerly known as Refinitiv Revenue: $3.40 billion, vs. $3.37 billion expected. Excluding that one-time benefit, the company reported quarterly net income of $1.61 billion compared to $1.21 billion in the year-ago quarter. Revenue grew 18% year-over-year, the company said. The company guided to $2.13 billion to $2.17 billion in fourth-quarter revenue, representing year-over-year growth ranging from 12% to 14%.

Persons: Brian Chesky, Airbnb, LSEG Organizations: Airbnb, CNBC, New York Stock Exchange, Revenue Locations: U.S

☆ SolarEdge shares sink after company offers weak Q4 guidance
▼ + stars: | 2023-11-01 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Shares of SolarEdge tumbled over 20% in extending trading Wednesday after the solar product manufacturer reported soft guidance for its fourth quarter amid demand struggles in the renewable energy sector. For the overall solar sector, SolarEdge said it expects revenue in the $275 million to $320 million range. At the time, Lando said installation rates for solar panels had declined though those rates typically increase during the third quarter. SolarEdge is based in Israel, but Lando said in October the Israel-Hamas war has not had an impact on manufacturing. The solar sector has faced headwinds over the past year as rising interest rates weigh on the demand for solar energy.

Persons: SolarEdge, Zvi Lando, Lando, Sunrun Organizations: LSEG, Enphase Energy Locations: Europe, Israel, California

☆ Etsy shares slip on light revenue and forecast decline in gross merchandise sales
▼ + stars: | 2023-11-01 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

An employee walks past a quilt displaying Etsy Inc. signage at the company's headquarters in the Brooklyn. Shares of Etsy fell more than 4% in extended trading Wednesday after the company released third-quarter results that missed analysts' estimates for revenue, and forecast a decline in gross merchandise sales, or GMS. Etsy reported a net income of $87.9 million, or 64 cents per share, while it reported a net loss of $963.1 million during the same period last year. Etsy said it expects GMS to decline slightly on a year-over-year basis for its fourth quarter. The segment also served as a major sales catalyst during the company's second quarter, as it grew roughly 21% year over year.

Persons: Etsy, Josh Silverman Organizations: LSEG, LSEG Revenue, GMS, Services, Nasdaq, CNBC PRO Locations: Brooklyn, Etsy's, Etsy

☆ UPS stock falls after delivery giant cuts revenue outlook
▼ + stars: | 2023-10-26 | by ( Laya Neelakandan | ) www.cnbc.com time to read: +1 min

Shares of the United Parcel Service closed 6% lower Thursday after the company reported a bigger-than-expected revenue decline and cut its revenue guidance for the year. Adjusted for one-time earnings, per share earnings were $1.57. The company also lowered its revenue outlook for the full year. UPS now expects this year's consolidated revenue to be between $91.3 billion and $92.3 billion, down from its previous projection of $93 billion. The delivery giant cited global economic uncertainty as the main factor in lowering its outlook.

Persons: Carol Tomé Organizations: UPS, United Parcel Service, Teamsters Locations: San Francisco , California

☆ ‘Oppenheimer’ helps IMAX swing to a profit in the third quarter
▼ + stars: | 2023-10-25 | by ( Laya Neelakandan | ) www.cnbc.com time to read: +4 min

IMAX on Wednesday posted third-quarter earnings showing its second highest-grossing quarter ever at the global box office, led by Universal's "Oppenheimer." The quarter was behind only the fourth quarter of 2019, when "Joker" and "Star Wars: The Rise of Skywalker" opened, in terms of grosses, IMAX said. In the third quarter, IMAX also generated 120 new signings for new and upgraded IMAX systems across the world. The company delivered a record performance in the third quarter," Gelfond said during the call. Looking to next year, IMAX expects "some movement" due to effects felt from the Hollywood actors' strike, Gelfond said.

Persons: Universal's, Oppenheimer, Richard Gelfond, We've, Gelfond, I've, Indiana Jones, Natasha Fernandes, Taylor Swift, Beyonce Organizations: Revenue, Hollywood, CNBC, Universal Pictures

☆ Meta to report third-quarter earnings after the bell
▼ + stars: | 2023-10-25 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +4 min

Mark Zuckerberg, CEO of Meta, attends a U.S. Senate bipartisan Artificial Intelligence Insight Forum at the U.S. Capitol in Washington, D.C., Sept. 13, 2023. Meta is set to report third-quarter earnings after the bell Wednesday. The company is expected to show growth of 21% in the third quarter after sales increased 11% in the prior period. Meta appears to be the furthest along in terms of improving the effectiveness of its online ad platform following Apple's changes. Meta, X and others must adhere to the DSA by removing illegal content and detailing how they're doing it.

Persons: Mark Zuckerberg, that's, Susan Li, Snap Organizations: Meta, U.S, Senate, Intelligence, Capitol, Washington , D.C, StreetAccount, EU, Digital Services, European Commission, Russia, Reality Labs Locations: Washington ,, U.S, Israel, Ukraine

☆ Spotify stock jumps 10% as cost-cutting boosts streamer to first quarterly profit in a year
▼ + stars: | 2023-10-24 | by ( Drew Richardson | ) www.cnbc.com time to read: +2 min

Spotify shares jumped 10% on Tuesday after the company reported a surprise profit for the third quarter — its first quarterly profit in a year and a half — as price increases and cost-cutting measures took hold. The Swedish music streaming giant posted a profit of 65 million euros ($68.9 million), driven by "lower marketing spend and lower personnel costs and related costs." Earlier this year, Spotify laid off 200 people, or 2% of its workforce, as part of a strategic change in its podcasting unit. The company had 574 million monthly active users in the quarter, compared with 572.1 million estimated, according to StreetAccount. Monthly active users drove 447 million euros of ad-supported revenue, the company reported, an increase of 16% year over year.

Persons: Paul Vogel, Rich Greenfield Organizations: Spotify, LSEG, Twitter Locations: Swedish, Australia, U.S

☆ Netflix is set to report earnings – here's what Wall Street expects
▼ + stars: | 2023-10-18 | by ( Sarah Whitten | ) www.cnbc.com time to read: +1 min

LOS ANGELES — Netflix is due to report third-quarter earnings after the closing bell Wednesday. The streaming company is still navigating its transformation from focusing on subscriber growth to focusing on profit, using price hikes, password crackdowns and ad-supported tiers to boost revenue. Investors will be looking to hear from the company's executives about how Netflix will grapple with these headwinds and for a status report on its ad tier. Additionally, they have signaled that operating margins will grow more gradually going forward as it invests in more growth opportunities. It's been less than six months since Netflix instituted its password crackdown, so it's unclear what impact that initiative has had for the company and how much executives will share.

Persons: It's Organizations: Netflix, Wall Street, Company, shouldn't

☆ Amazon set to report second-quarter earnings after the bell
▼ + stars: | 2023-08-03 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +4 min

Amazon will report second-quarter earnings after the market close on Thursday. In the first quarter, AWS sales increased roughly 16%, the slowest growth since 2015, when Amazon began breaking out cloud revenue. AWS rivals Microsoft and Alphabet last week reported solid results in their cloud businesses, beating analysts' revenue expectations. Last week, Amazon hosted an AWS Summit, where the company announced updates related to generative AI, including a service that uses the technology to transcribe and summarize doctors' patient visits. Also during the quarter, Amazon hosted its annual Prime Day discount bonanza, which it touted as its "biggest ever."

Persons: Andy Jassy, it's, Brian Olsavsky, workloads Organizations: Amazon, Seattle, Refinitiv Revenue, Web, Services, Evercore, Microsoft, Apple, Meta Locations: Seattle, Israel

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