SocGen reports 64% slide in annual profits but beats market expectations

SocGen reported its latest results Wednesday. SAMEER AL-DOUMY | AFP | Getty Images General Society on Wednesday reported a 64% drop in annual net profits for 2022, weighed on by lower activity in its domestic banking unit, currency effects and increased operating expenses. The French bank said net income came in at 1.16 billion euros … Read more

Chipotle Mexican Grill misses expectations for earnings, revenue and same-store sales

A Chipotle restaurant and signage is seen on February 09, 2022 in Miami, Florida. Joe Raedle | Getty Images Chipotle Mexican Grill on Tuesday reported weaker-than-expected quarterly earnings and revenue, signaling that its price hikes may finally be alienating customers. In October, CEO Brian Niccol said the company saw “minimal resistance” to higher prices for … Read more

Hertz fourth-quarter profit beats as costs come down and travel rebounds

Rental car giant Hertz reported fourth-quarter earnings that were better than Wall Street expected, on renewed demand for travel as the Covid-19 pandemic eased in many parts of the world. The company also benefited from improved operating performance, CEO Stephen Scherr told CNBC, helping to boost earnings even as revenue came in roughly in line … Read more

Nintendo cuts sales forecast for its ageing Switch console after disappointing holiday season

Nintendo said its Pokémon Scarlet and Pokémon Violet games for the Nintendo Switch hit an all-times sales record for the company. Pokémon is one of Nintendo’s longest-running and most popular franchises. Guillaume Payen | Sopa Images | Lightrocket | Getty Images Nintendo on Tuesday cut the outlook for its Nintendo Switch console and games sales … Read more

SoftBank’s Vision Fund posts fourth straight quarter of losses as tech slump hits Japanese giant

SoftBank’s Vision Fund, the brainchild of the company’s founder Masayoshi Son, has faced a number of headwinds including a slump in technology stocks as a result of rising interest rates, a tough China market and geopolitics. Kentaro Takahash | Bloomberg | Getty Images SoftBank’s flagship investment arm the Vision Fund posted its fourth straight quarterly … Read more

BP posts record 2022 earnings to join Big Oil profit bonanza

The extraordinary scale of the oil and gas industry’s earnings has renewed criticism and sparked calls for higher taxes. Sopa Images | Lightrocket | Getty Images Oil major BP on Tuesday reported record annual profits, more than doubling last year’s total as fossil fuel prices soared following Russia’s full-scale invasion of Ukraine. The British energy … Read more

French bank BNP Paribas reports bumper profit for 2022, boosts stock purchase plan

BNP Paribas reported Q4 2022 and full year earnings. Miguel Medina | Afp | Getty Images BNP Paribas reported Tuesday a 7% rise in net income for 2022 and revised up its profit targets. The French bank said net profit attributable to shareholders came in at 2.2 billion euros ($2.36 billion) for the fourth quarter, … Read more

Amazon’s cloud business reports 20% growth in fourth quarter, missing estimates

Amazon Web Services CEO Adam Selipsky delivers a keynote address during the AWS re:Invent conference in Las Vegas on Nov. 29, 2022. Noah Berger |Getty Images Amazon said revenue in its cloud unit increased by 20% in the fourth quarter, a slower pace than analysts had projected and more sluggish than the 27.5% growth rate … Read more

Qualcomm revenue falls 12%, guidance implies more pain this quarter

Cristiano Amon, CEO of Qualcomm. Steve Marcus | Reuters Qualcomm shares rose by as much as 4% in extended trading on Thursday after the chipmaker reported lower fiscal first-quarter revenue than analysts had predicted and issued weak quarterly guidance. Here’s how the company did: Earnings: $2.37 per share, adjusted, vs. $2.34 per share as expected … Read more

Meta shares rocket 23%, one of the best days in over a decade

Mark Zuckerberg told the world in Oct. 2021 that he was rebranding Facebook to Meta as the company pushes toward the metaverse. Facebook | via Reuters Meta shares jumped over 23% on Thursday, one of the stocks best day in nearly a decade, with a slew of analyst upgrades coming off the back of a … Read more

Amazon to report quarterly results after market close

Andy Jassy, CEO of Amazon, speaks at the ceremonial ribbon cutting prior to tomorrow’s opening night for the NHL’s newest hockey franchise the Seattle Kraken at the Climate Pledge Arena on October 22, 2021, in Seattle. Bruce Bennett | Getty Images Sport | Getty Images Amazon will report fourth-quarter earnings after the market close Thursday. … Read more

Starbucks is about to report earnings. Here’s what to expect

A Starbucks store is seen inside the Tom Bradley terminal at LAX airport in Los Angeles, California. Lucy Nicholson | Reuters Starbucks is expected to report its fiscal first-quarter earnings after the bell Thursday. Here’s what Wall Street analysts surveyed by Refinitiv are expecting: Earnings per share: 77 cents expected Revenue: $8.78 billion expected Shares … Read more

Ford is set to report results after the bell. Here’s what Wall Street expects

Ford CEO Jim Farley takes off his mask at the Ford Built for America event at Fords Dearborn Truck Plant on September 17, 2020 in Dearborn, Michigan. Nic Antaya | Getty Images DETROIT – Ford Motor is set to report its fourth-quarter earnings after the bell Thursday. Here’s what Wall Street is expecting, according to … Read more

Ferrari’s profits jump 13% in 2022, supercar maker expects an even better year in 2023

Ferrari CEO Benedetto Vigna poses for a photograph as Ferrari unveils a new long term strategy, in Maranello, Italy, June 15, 2022. Flavio Lo Scalzo | Reuters Ferrari on Thursday reported full-year profit up 13% year over year and guided to an even stronger year in 2023 on what its CEO called “persistently high demand” … Read more

Apple reports earnings after the bell Thursday

Tim Cook, chief executive officer of Apple Inc., speaks during a “First Tool-In” ceremony at the TSMC facility under construction in Phoenix, Arizona, on Tuesday, Dec. 6, 2022. Caitlin O’Hara | Bloomberg | Getty Images Apple reports fiscal first-quarter earnings after the bell. Analysts expect the iPhone maker to post its first year-over-year revenue decline … Read more

Oil giant Shell posts highest-ever annual profit of $40 billion

Shell said last month that windfall taxes imposed by the European Union and U.K. following the surge in profits would cost the group about $2 billion. Paul Ellis | Afp | Getty Images British oil giant Shell on Thursday posted its highest-ever annual profit, bolstered by soaring fossil fuel prices and robust demand since Russia’s … Read more

Deutsche Bank smashes profit expectations in fourth quarter as higher interest rates bolster revenue

A statue is pictured next to the logo of Germany’s Deutsche Bank in Frankfurt, Germany, September 30, 2016. Kai Pfaffenbach | reuters Deutsche Bank on Thursday reported its 10th straight quarter of profit, receiving a boost from higher interest rates and favorable market conditions. Deutsche Bank reported a 1.8 billion euro ($1.98 billion) net profit … Read more

Peloton CEO doesn’t care that equipment is losing money, sees path forward in the app

Barry McCarthy speaks during an interview with CNBC on floor of the New York Stock Exchange (NYSE), October 28, 2019. Brendan McDermid | Reuters Peloton CEO Barry McCarthy told investors Wednesday he doesn’t care that the company is losing money on its Bike, Tread and Row equipment. The business’s “path to the promised land,” he … Read more

Peloton shares jump after fitness company posts subscription revenue growth

Brody Longo works out on his Peloton exercise bike on April 16, 2021 in Brick, New Jersey. Michael Loccisano | Getty Images Peloton said Wednesday its net loss narrowed year over year, and, for the third quarter in a row, subscription revenue was higher than sales of the company’s connected fitness products. CEO Barry McCarthy … Read more

Fed expected to slow rate hiking to a quarter point but will stay unrelenting in inflation battle

Federal Reserve Board Chairman Jerome Powell holds a news conference following the announcement that the Federal Reserve raised interest rates by half a percentage point, at the Federal Reserve Building in Washington, U.S., December 14, 2022. Evelyn Hockstein | Reuters The Federal Reserve is expected to raise interest rates by just a quarter point but … Read more

UPS revenue falls short of expectations despite growth in U.S. business

UPS electric vehicle delivery van on 2nd December 2022 in London, United Kingdom. Mike Kemp | In Pictures | Getty Images United Parcel Service on Tuesday morning reported fourth-quarter revenue that missed Wall Street’s expectations and declined from last year, as the company continues to see volume decline amid cooling demand. Here’s how UPS performed … Read more

UBS gets a boost from higher rates, but lower client activity brings down revenues

UBS reported fourth quarter and full-year earnings. Fabrice Coffrini | Afp | Getty Images UBS beat market expectations with its latest results on the back of lower expenses and higher interest rates. But the lender’s revenues declined because of weaker client activity. The bank reported $1.7 billion of net income for the fourth quarter of … Read more

McDonald’s is about to report earnings. Here’s what to expect

A sign is posted in front of a McDonald’s restaurant on April 28, 2022 in San Leandro, California. Justin Sullivan | Getty Images McDonald’s is expected to report its fourth-quarter earnings before the bell Tuesday. Here’s what analysts surveyed by Refinitiv are expecting the company to report: Earnings per share: $2.45 expected Revenue: $5.69 billion … Read more

General Motors is set to report earnings before the bell. Here’s what Wall Street expects

Mary Barra, CEO, GM at the NYSE, November 17, 2022. Source: NYSE DETROIT — General Motors is set to report its fourth-quarter earnings before the bell Tuesday. Here’s what Wall Street is expecting, according to Refinitiv consensus estimates: Adjusted earnings per share: $1.69 Revenue: $40.65 billion GM in November tightened its projected range for 2022 … Read more

Jim Chanos: Bear market is doing something unheard of in my career

Famed short seller Jim Chanos sees an alarming trend in the market. “I’ve been on the Street [since] 1980 [and] not one bear market has ever traded above nine times to 14 times the previous peak earnings,” the Chanos & Co. founder told CNBC’s “Fast Money” on Monday. related investing news His latest warning comes … Read more