Walmart earnings beat estimates, shares rise on higher outlook ahead of holidays

A strong grocery business helped Walmart’s online sales grow 41% in the third quarter, the company said on Thursday, fueling an earnings beat. But Walmart raised its annual earnings outlook ahead of the holiday season. Sales online and at Walmart stores operating for at least 12 months in the U.S. were up 3.2%, topping estimates for growth of 3.1%. Looking to the full year, Walmart now expects adjusted earnings per share for fiscal 2020 to “increase slightly” compared with last year. The retaile


A strong grocery business helped Walmart’s online sales grow 41% in the third quarter, the company said on Thursday, fueling an earnings beat.
But Walmart raised its annual earnings outlook ahead of the holiday season.
Sales online and at Walmart stores operating for at least 12 months in the U.S. were up 3.2%, topping estimates for growth of 3.1%.
Looking to the full year, Walmart now expects adjusted earnings per share for fiscal 2020 to “increase slightly” compared with last year.
The retaile
Walmart earnings beat estimates, shares rise on higher outlook ahead of holidays Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-14  Authors: lauren thomas courtney reagan, lauren thomas, courtney reagan
Keywords: news, cnbc, companies, estimates, ahead, holidays, beat, higher, sales, outlook, walmart, earnings, share, grocery, shares, online, growth, compared, slightly, rise, billion


Walmart earnings beat estimates, shares rise on higher outlook ahead of holidays

A strong grocery business helped Walmart’s online sales grow 41% in the third quarter, the company said on Thursday, fueling an earnings beat.

Total sales in the latest period fell short of analysts’ expectations. But Walmart raised its annual earnings outlook ahead of the holiday season.

Its shares jumped more than 3.5% in premarket trading on the news.

CEO Doug McMillon said in prepared remarks Thursday that Walmart is “prepared for a good holiday season.”

Here’s what Walmart reported for its fiscal third quarter compared with what analysts were expecting, based on Refinitiv data:

Earnings per share: $1.16, adjusted, vs. $1.09 expected

Revenue: $127.99 billion vs. $128.65 billion expected

U.S. same-store sales: up 3.2% vs. growth of 3.1% expected

Net income for the period ended Oct. 31 grew to $3.29 billion, or $1.15 a share, compared with $1.71 billion, or 58 cents per share, a year ago. Excluding one-time charges, Walmart earned $1.16 per share, topping expectations for $1.09, based on Refinitiv data.

Total revenue grew 2.5% to $127.99 billion from $124.89 billion a year ago. But that fell slightly short of expectations for $128.65 billion.

Sales online and at Walmart stores operating for at least 12 months in the U.S. were up 3.2%, topping estimates for growth of 3.1%.

The company said e-commerce sales were up 41%, thanks to “strong growth” in online grocery. A year ago, they surged 43%. Last quarter, Walmart’s online sales were up 37%. The company has been calling for U.S. e-commerce sales growth of 35% for the year, which would be slightly less than what it logged in fiscal 2019.

“We continue to see good traffic in our stores,” McMillon said. “We’re growing market share in key food and consumables categories, including fresh.”

Walmart said the average ticket in the U.S. grew 1.9% compared with a 1.8% increase a year ago. Transactions were up 1.3% in the latest quarter, slightly lower than growth of 1.6% this time last year.

Looking to the full year, Walmart now expects adjusted earnings per share for fiscal 2020 to “increase slightly” compared with last year. Previously, it was calling for adjusted earnings per share to range between a slight decrease to a slight increase. Analysts have been calling for 0.3% growth. Excluding Flipkart, Walmart says annual earnings should be up a high single-digit percentage.

The company added it “continues to assess the ongoing civil unrest in Chile and has not included any related potential discrete financial effects in its assumptions.”

All year long, Walmart and Amazon have been neck and neck in a delivery war, trying to offer shoppers as speedy a service as possible.

Amazon announced plans in October to start delivering grocery products for free within a two-hour window to all Prime members living in the 2,000 regions eligible for the service. Until then, Prime members had to pay an additional $14.99 per month to get access to Amazon Fresh, a separate program that offered two-hour grocery delivery.

Walmart has started testing delivering groceries directly to customers’ refrigerators in three cities. Its InHome grocery delivery membership program costs $19.95 a month. And making the most of its bricks-and-mortar stores, it has more than 2,700 grocery pickup locations for online orders across the U.S. Walmart also now offers a “Delivery Unlimited” option from 1,400 locations, where customers can pay $98 annually, or $12.95 monthly, for unlimited grocery delivery.

Walmart shares are up nearly 30% this year. The retailer has a market cap of about $344.2 billion, compared with Amazon’s $867 billion.


Company: cnbc, Activity: cnbc, Date: 2019-11-14  Authors: lauren thomas courtney reagan, lauren thomas, courtney reagan
Keywords: news, cnbc, companies, estimates, ahead, holidays, beat, higher, sales, outlook, walmart, earnings, share, grocery, shares, online, growth, compared, slightly, rise, billion


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Comcast poised to beat $20 billion race discrimination case at Supreme Court

WASHINGTON — Comcast looked poised for victory during arguments on Wednesday over a $20 billion racial discrimination case brought by media mogul Byron Allen. Instead, it concerned the reach of the 1866 Civil Rights Act, which guarantees black and white citizens the equal right to make and enforce contracts. Circuit Court of Appeals ruled in favor of Allen, rejecting the decision of a federal district judge who dismissed the complaint. Kagan also noted that the 9th Circuit appeared to apply the


WASHINGTON — Comcast looked poised for victory during arguments on Wednesday over a $20 billion racial discrimination case brought by media mogul Byron Allen.
Instead, it concerned the reach of the 1866 Civil Rights Act, which guarantees black and white citizens the equal right to make and enforce contracts.
Circuit Court of Appeals ruled in favor of Allen, rejecting the decision of a federal district judge who dismissed the complaint.
Kagan also noted that the 9th Circuit appeared to apply the
Comcast poised to beat $20 billion race discrimination case at Supreme Court Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-13  Authors: tucker higgins
Keywords: news, cnbc, companies, court, rights, billion, supreme, case, civil, circuit, allen, discrimination, beat, comcast, race, 9th, decision, poised, arguments


Comcast poised to beat $20 billion race discrimination case at Supreme Court

Comedian and producer Byron Allen leaves the Supreme Court after it heard Comcast’s bid to evade a civil rights lawsuit he filed against the company, in Washington, U.S. November 13, 2019.

WASHINGTON — Comcast looked poised for victory during arguments on Wednesday over a $20 billion racial discrimination case brought by media mogul Byron Allen.

The win may not be final. The justices suggested they may erase the company’s defeat before a lower court, but give Allen another shot to bring his case. If it does so, Allen could ultimately prevail.

“It’s clear that they are looking to send the case forward. That’s what we wanted,” Allen said in an interview by phone following arguments. “We couldn’t be happier.”

Allen, a former comedian who owns the media company Entertainment Studios, alleges that Comcast discriminated against him when it declined to carry seven of his channels, including Cars.TV and Pets.TV, while entering into contracts to carry lesser-known, white-owned channels.

Comcast owns CNBC parent NBCUniversal.

The question before the Supreme Court was not whether Allen was discriminated against, which Comcast denies. Instead, it concerned the reach of the 1866 Civil Rights Act, which guarantees black and white citizens the equal right to make and enforce contracts.

Federal courts have given different explanations for how easy it should be to sue under the law.

Allen argues that all he should have to do at the initial stage of his lawsuit is to show that race was a motivating factor behind Comcast’s decision. In contrast, Comcast says that Allen must prove that there are no race-neutral reasons that could explain his being refused the contract.

The 9th U.S. Circuit Court of Appeals ruled in favor of Allen, rejecting the decision of a federal district judge who dismissed the complaint. Conservative and liberal justices alike expressed deep skepticism of the 9th Circuit’s reasoning on Wednesday.

Arguments were highly technical. They concerned at which stage in the legal process which standard should apply. Erwin Chemerinsky, Allen’s attorney, conceded that Allen should have to meet the stricter standard to ultimately win his case. But he said that the lower bar should apply when a case is first brought.

“Why do we let you go further if you can’t win?” Justice Stephen Breyer, a Clinton appointee, asked.

Justice Elena Kagan, an Obama-appointee said the idea of having two standards “just strikes me as confusing.”

Kagan also noted that the 9th Circuit appeared to apply the low standard to all stages of the proceeding.

“That seems wrong, right?” she said. “Don’t you think that the 9th Circuit has to be reversed?”

Chemerinsky didn’t provide a direct answer, prompting Justice Neil Gorsuch, a Trump appointee, to press the matter.

“Don’t you agree that the 9th Circuit was wrong?” he asked.

Justice Brett Kavanaugh then suggested that the court do away with the 9th Circuit’s opinion, but order the lower court to analyze the matter once again, assuming that the higher burden applied to all stages of the legal proceeding.

“What is wrong with that decision?” Kavanaugh asked.

“Well, because it’s not the issue before this court,” Chemerinsky said.

Justice Ruth Bader Ginsburg was not present for arguments because she was at home with a stomach bug, a court spokeswoman said. She will still participate in the decision in the case based on the briefs and transcripts.

The case has attracted attention from civil rights groups.

Kristen Clarke, president of the Lawyers’ Committee for Civil Rights Under Law, said in a statement that the case is “the most important civil rights case that will be heard by the Supreme Court this term.”

The NAACP wrote in a brief in the matter that “Comcast’s arguments would, in many cases, impose an impossible pleading burden on victims of discrimination.”

The case also attracted the attention of Rep. Bobby Rush, D-Ill., who sent a letter to Comcast CEO Brian Roberts earlier this month criticizing the company’s position in the case and saying it was “my belief that the Comcast Corporation needs to be broken up.”

The Trump administration and the U.S. Chamber of Commerce filed briefs in the case in support of Comcast.

A Comcast spokesperson said in a statement that the company was “optimistic the Court will reverse the incorrect 9th Circuit decision and, in light of the trial court’s dismissal three separate times of these discrimination claims, bring this case to an end.”

“Comcast has a strong civil rights and diversity record and an outstanding history of supporting and fostering diverse programming from African-American owned channels,” the spokesperson said.

In an email, Chemerinsky said he believed the argument “went well and focused as it should on what needs to be alleged to get into court with a race discrimination claim” under the 1866 law.

“I am hopeful the Court will agree that it is enough to say that race is a motivating factor in the denial of a contract,” he wrote.

The case is Comcast Corporation v. National Association of African American-Owned Media, No. 18-1171. A decision in the matter is expected by the end of June.

Disclosure: Comcast owns CNBC parent NBCUniversal.


Company: cnbc, Activity: cnbc, Date: 2019-11-13  Authors: tucker higgins
Keywords: news, cnbc, companies, court, rights, billion, supreme, case, civil, circuit, allen, discrimination, beat, comcast, race, 9th, decision, poised, arguments


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Review: The 2020 Chevy Silverado HD is a decent truck, but Ford and Ram have it beat

The 2020 Chevy Silverado 4×4 Custom Crew Cab Mack Hogan | CNBCAnd this thing does feel built to work. The 2020 Chevy Silverado 4×4 Custom Crew Cab Mack Hogan | CNBCChevy also offers some clever options to make hauling huge objects more manageable. The 2020 Chevy Silverado 4×4 Custom Crew Cab Mack Hogan | CNBCFor that reason, luxurious trims of pickups tend to sell a lot. The 2020 Chevy Silverado 4×4 Custom Crew Cab Mack Hogan | CNBCThat’s a problem for two reasons. The 2020 Chevy Silverado 4×4 C


The 2020 Chevy Silverado 4×4 Custom Crew Cab Mack Hogan | CNBCAnd this thing does feel built to work.
The 2020 Chevy Silverado 4×4 Custom Crew Cab Mack Hogan | CNBCChevy also offers some clever options to make hauling huge objects more manageable.
The 2020 Chevy Silverado 4×4 Custom Crew Cab Mack Hogan | CNBCFor that reason, luxurious trims of pickups tend to sell a lot.
The 2020 Chevy Silverado 4×4 Custom Crew Cab Mack Hogan | CNBCThat’s a problem for two reasons.
The 2020 Chevy Silverado 4×4 C
Review: The 2020 Chevy Silverado HD is a decent truck, but Ford and Ram have it beat Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-10  Authors: mack hogan
Keywords: news, cnbc, companies, silverado, 4×4, truck, custom, mack, cab, trucks, ford, decent, review, beat, crew, chevy, ram, 2020


Review: The 2020 Chevy Silverado HD is a decent truck, but Ford and Ram have it beat

The 2020 Chevy Silverado 4×4 Custom Crew Cab Mack Hogan | CNBC

For 2019, General Motors released all-new versions of its volume-selling pickup trucks: the Chevy Silverado 1500 and the GMC Sierra 1500. They’re good trucks, but they’ve been somewhat overshadowed by Fiat Chrysler’s stellar Ram pickup that was also new for 2019. Sales of the Silverado, typically the best-selling vehicle in the country after Ford’s F-Series, fell behind the Ram pickup in the first quarter.

The 2020 Chevy Silverado 4×4 Custom Crew Cab Mack Hogan | CNBC

Even though GM trucks, including the Silverado and Sierra, outsell the Ram, the lead isn’t as secure as it once was. More than that, GM’s going to have to deal with a redesigned F-150 and Super Duty from Ford soon. It’s a good thing, then, that they’ve redesigned the heavy-duty Silverado for 2020 to try to protect their market share. Unfortunately, it might not be enough.

The good

Our tester was a relatively basic model Silverado 2500 4×4 Custom Crew Cab, equipped with the 6.6-liter gasoline engine and a $48,420 price tag. That’s not cheap, but workhorse heavy-duty trucks never are.

The 2020 Chevy Silverado 4×4 Custom Crew Cab Mack Hogan | CNBC

And this thing does feel built to work. Though it doesn’t offer the same low-end power or towing capability that a diesel engine — which is what you’d typically find in this segment — would, it’s still plenty potent. Even in this low-towing configuration, the Silverado 2500 can still pull 16,600 pounds on a goose-neck trailer. That’s more than even the brawniest 1500-class truck, so the premium is worth it if you need serious capability. Of course, those buyers are probably better served by a diesel-powered truck. Option a Silverado 2500 right and you can tow up to 18,500 pounds. Step up to a 3500 truck configured for maximum towing and that number jumps to 35,500 pounds. Point is, these trucks are probably more capable than most buyers will ever need.

The 2020 Chevy Silverado 4×4 Custom Crew Cab Mack Hogan | CNBC

Chevy also offers some clever options to make hauling huge objects more manageable. The company’s “transparent trailer” technology uses cameras to make your attached trailer appear see-through, while a slew of camera angles help you handle parking a truck this massive. The Silverado 2500 also feels built to handle serious abuse. The controls are brawny and well-weighted, the interior is basic and the truck soaks up potholes and big undulations. Ours also had the optional front bench seat, which means it fit six passengers in its gargantuan cabin.

The 2020 Chevy Silverado 4×4 Custom Crew Cab Mack Hogan | CNBC

The truck is also very quiet for a heavy-duty truck, in no small part because of the increased refinement of the gas engine. Coupled with the intuitive infotainment system and the relaxed highway ride, it’s a nice place to be when cruising on the highway.

The bad

The ride at lower speeds, though, is harsh. That’s true of all heavy-duty trucks we’ve experienced, as the stiff suspension required to haul heavy loads tends to be unforgiving in daily operation. It comes with the territory, but we figured it’s worth mentioning as many people use trucks for everyday driving.

The 2020 Chevy Silverado 4×4 Custom Crew Cab Mack Hogan | CNBC

For that reason, luxurious trims of pickups tend to sell a lot. We haven’t spent time in the top-trim Silverados, but the cabin immediately looks more dated than the new Ram or even the older Ford F-250. If you really want a luxury truck from GM, the GMC Sierra looks and feels nicer inside. Which brings up the larger problem with the Silverado. The pickup truck world is one of the most profitable and competitive segments, with all three American auto giants fiercely fighting for sales. The Silverado 2500 is a nice truck, but it doesn’t seem like the knockout hit that an all-new truck from GM should be.

The 2020 Chevy Silverado 4×4 Custom Crew Cab Mack Hogan | CNBC

That’s a problem for two reasons. First, because the new Ram did change the game. Whether you’re looking at the standard 1500 model or the new Ram Heavy Duty, FCA’s built a truck that offers serious capability while moving the segment forward in terms of refinement, interior quality, technology and value. Second, the Silverado HD did beat the competition in one way: its 35,500-pound towing capacity was class-leading when the redesign was announced. But now, Ford’s updated its Super Duty line of heavy-duty trucks to best Chevy.

The 2020 Chevy Silverado 4×4 Custom Crew Cab Mack Hogan | CNBC

As we noted, these capacities are so high that few buyers will ever need them. But much like the world of supercars, the world of trucks tends to focus on spec sheets and bragging rights.

Final thoughts

If you’ve always been a Chevy person and want a new truck, take solace in the fact that the new Silverados are markedly better than their predecessors in every way, save maybe the new truck’s polarizing looks. But for everyone else, it’s a tough sell. The interior isn’t as nice as either Ford or Ram’s heavy-duty trucks, it’s not the segment leader in capability and it isn’t the best driving truck out there. It’s not a bad truck by any means, it’s just not the one that we’d take home.

The 2020 Chevy Silverado 4×4 Custom Crew Cab Mack Hogan | CNBC

Rating:


Company: cnbc, Activity: cnbc, Date: 2019-11-10  Authors: mack hogan
Keywords: news, cnbc, companies, silverado, 4×4, truck, custom, mack, cab, trucks, ford, decent, review, beat, crew, chevy, ram, 2020


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Siemens posts profit beat but strikes gloomy tone

Siemens on Thursday posted industrial operating profit of 2.64 billion euros ($2.92 billion) for its fourth quarter, beating analyst expectations of 2.33 billion euros. The figure represents a 20% rise in the three months to the end of September on the back of a substantial increase in large orders. Nevertheless, we were again able to underscore Siemens’ performance aspiration with a brilliant fourth quarter,” Siemens CEO Joe Kaeser said in the earnings report. Revenue for the company’s fourth q


Siemens on Thursday posted industrial operating profit of 2.64 billion euros ($2.92 billion) for its fourth quarter, beating analyst expectations of 2.33 billion euros.
The figure represents a 20% rise in the three months to the end of September on the back of a substantial increase in large orders.
Nevertheless, we were again able to underscore Siemens’ performance aspiration with a brilliant fourth quarter,” Siemens CEO Joe Kaeser said in the earnings report.
Revenue for the company’s fourth q
Siemens posts profit beat but strikes gloomy tone Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: elliot smith
Keywords: news, cnbc, companies, really, tone, profit, weakening, kaeser, strikes, 2020, gloomy, siemens, billion, target, suggested, beat, fourth, posts, quarter


Siemens posts profit beat but strikes gloomy tone

Siemens on Thursday posted industrial operating profit of 2.64 billion euros ($2.92 billion) for its fourth quarter, beating analyst expectations of 2.33 billion euros.

The figure represents a 20% rise in the three months to the end of September on the back of a substantial increase in large orders.

However, the German conglomerate offered a cautious tone for 2020, warning of an expected weakening in the global economy over the next 12 months and projecting a slowdown for its short-cycle automotive and machinery products.

“The weakening of the global economy accelerated clearly during fiscal 2019. Nevertheless, we were again able to underscore Siemens’ performance aspiration with a brilliant fourth quarter,” Siemens CEO Joe Kaeser said in the earnings report.

“We fully achieved our fiscal-year guidance in all aspects! Our Vision 2020+ strategic concept is beginning to get traction.”

Revenue for the company’s fourth quarter came in at 24.5 billion euros, an 8% increase year-on-year, while orders rose 4% to 24.7 billion euros.

Speaking to CNBC’s “Squawk Box Europe” Thursday morning, Kaeser said political leadership was “going backwards” by shifting trade and economic policy towards nationalization and protectionism, but suggested that international powerhouses like Siemens were “one notch above territorial boundaries.”

“We can allocate resources at any given point in time, so I am rather optimistic that exactly those companies who are so widely localized will actually be the ones who can get over these geopolitical matters.”

Despite the prospect of the U.S. pulling out of the Paris Climate Accord, Kaeser said his customers stateside, from oil and gas and automotive companies to hospitals, were all concerned about reducing emissions.

“As much as I welcome and admire activities from young people, children at times, that really shake up society, that really take charge of their own future, this is only a diagnostics matter,” he said.

“If you only have diagnostics, you are not going to get healthy, we need to have the cure. You need to have somebody who takes actions to bring down emissions and that is exactly what we do.”

Kaeser added that the company is expecting in the next fiscal year to declare success on its target set four years ago for a 50% reduction in emissions by 2020, and suggested Siemens may bring forward its target of reaching CO2 neutrality by 2030.


Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: elliot smith
Keywords: news, cnbc, companies, really, tone, profit, weakening, kaeser, strikes, 2020, gloomy, siemens, billion, target, suggested, beat, fourth, posts, quarter


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Baidu shares jump 4% as video streaming helps results beat expectations

Shares of Chinese internet giant Baidu surged over 4% in after-hours trade following better-than-expected results for the third quarter. Here are the highlights for the three months ended September 30:Revenue of 28.08 billion yuan ($3.93 billion, according to the earnings release exchange rate). Excluding items, earnings per share came in at 12.61 yuan, beating market expectations, but representing 34% year-on-year decline. Analysts polled by Refinitiv had expected 27.49 billion yuan in revenue


Shares of Chinese internet giant Baidu surged over 4% in after-hours trade following better-than-expected results for the third quarter.
Here are the highlights for the three months ended September 30:Revenue of 28.08 billion yuan ($3.93 billion, according to the earnings release exchange rate).
Excluding items, earnings per share came in at 12.61 yuan, beating market expectations, but representing 34% year-on-year decline.
Analysts polled by Refinitiv had expected 27.49 billion yuan in revenue
Baidu shares jump 4% as video streaming helps results beat expectations Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: arjun kharpal
Keywords: news, cnbc, companies, market, video, baidu, search, increased, yuan, earnings, results, trade, expectations, chinese, billion, shares, share, beat, jump, streaming, helps


Baidu shares jump 4% as video streaming helps results beat expectations

Shares of Chinese internet giant Baidu surged over 4% in after-hours trade following better-than-expected results for the third quarter.

Here are the highlights for the three months ended September 30:

Revenue of 28.08 billion yuan ($3.93 billion, according to the earnings release exchange rate). That’s was relatively flat year-on-year.

Excluding items, earnings per share came in at 12.61 yuan, beating market expectations, but representing 34% year-on-year decline.

Analysts polled by Refinitiv had expected 27.49 billion yuan in revenue and adjusted earnings per share of 7.88 yuan.

Baidu has faced a number of headwinds this year including a slowing Chinese economy amid a protracted U.S.-China trade war, increased competition from new search players like TikTok owner ByteDance and increased scrutiny from regulators on the advertising market in the world’s second-largest economy.

Shares of Baidu have fallen 32% this year.

But the Chinese firm has been looking to diversify revenues, and reduce reliance on its core search business, by expanding into areas like driverless cars, artificial intelligence and streaming. The first two are viewed as future growth areas for the company, but its video platform iQiyi is already delivering the goods.


Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: arjun kharpal
Keywords: news, cnbc, companies, market, video, baidu, search, increased, yuan, earnings, results, trade, expectations, chinese, billion, shares, share, beat, jump, streaming, helps


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Dropbox stock pops, then fizzles on earnings beat

Here are the key numbers:Earnings: Excluding certain items, 13 cents per share, vs. 11 cents per share as expected by analysts, according to Refinitiv. On a GAAP basis, the company lost 4 cents per share, higher than the 1 cent per share loss from a year ago. Excluding certain items, 13 cents per share, vs. 11 cents per share as expected by analysts, according to Refinitiv. Revenue: $428.2 million, vs. $423.5 million as expected by analysts, according to Refinitiv. Dropbox’s revenue increased 19


Here are the key numbers:Earnings: Excluding certain items, 13 cents per share, vs. 11 cents per share as expected by analysts, according to Refinitiv.
On a GAAP basis, the company lost 4 cents per share, higher than the 1 cent per share loss from a year ago.
Excluding certain items, 13 cents per share, vs. 11 cents per share as expected by analysts, according to Refinitiv.
Revenue: $428.2 million, vs. $423.5 million as expected by analysts, according to Refinitiv.
Dropbox’s revenue increased 19
Dropbox stock pops, then fizzles on earnings beat Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: jordan novet
Keywords: news, cnbc, companies, earnings, dropbox, beat, stock, quarter, fizzles, share, revenue, cents, analysts, million, company, factset, pops, according


Dropbox stock pops, then fizzles on earnings beat

Dropbox shares bounced around after the company reported better-than-expected third-quarter earnings on Thursday, as investors digested the company’s improvements on some key metrics but widening GAAP losses from a year ago.

Here are the key numbers:

Earnings: Excluding certain items, 13 cents per share, vs. 11 cents per share as expected by analysts, according to Refinitiv. On a GAAP basis, the company lost 4 cents per share, higher than the 1 cent per share loss from a year ago.

Excluding certain items, 13 cents per share, vs. 11 cents per share as expected by analysts, according to Refinitiv. On a GAAP basis, the company lost 4 cents per share, higher than the 1 cent per share loss from a year ago. Revenue: $428.2 million, vs. $423.5 million as expected by analysts, according to Refinitiv.

Dropbox’s revenue increased 19% on an annualized basis in the quarter, according to a statement, faster than the 18% growth in the prior quarter.

The company had about 14 million paying users in the third quarter, above the FactSet consensus estimate of 13.89 million. Average revenue per paying user came out to $123.15, up from $118.60 in the same period one year earlier and higher than the $122.30 FactSet estimate.

The growth came was ” primarily driven by strong adoption of our premium professional and advanced plans by new paying users as well as the repricing and repackaging of our Plus SKU,” Ajay Vashee, Dropbox’s chief financial officer, said on a conference call with analysts on Thursday.

Deferred revenue came in at $541.1 million. Analysts polled by FactSet were looking for $534 million.

In the quarter Dropbox launched Spaces as an evolution of its shared folders, and the company said Autodesk marketing chief Lisa Campbell and Intercom operating chief Karen Peacock were joining its board.

With respect to guidance, Dropbox is calling for $1.657 billion to $1.659 billion in full-year revenue. Analysts surveyed by Refinitiv had been forecasting $1.652 million.

The company is aiming for a 14% to 15% operating margin in the fourth quarter, excluding certain items. The FactSet consensus was 14.3%. On free cash flow for the full year, Dropbox sees itself coming in at the middle of the range of $375 million to $385 million, which would be less than the $392 million FactSet estimate. The guidance factors in spending for the construction of Dropbox’s new headquarters.

On October 22 Nomura Instinet analysts led by Christopher Eberle raised their rating on Dropbox to buy from neutral. “We believe we are nearing an inflection in revenue after six quarters of deceleration as a public company,” they wrote.

Dropbox stock is up 2% since the beginning of 2019.

WATCH: Dropbox co-founder at the CNBC @Work Summit talking better tech


Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: jordan novet
Keywords: news, cnbc, companies, earnings, dropbox, beat, stock, quarter, fizzles, share, revenue, cents, analysts, million, company, factset, pops, according


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Papa John’s stock jumps after executive reshuffle announcement and revenue beat

Papa John’s International Inc. signage is displayed on top of a delivery vehicle outside of the company’s restaurant in Nashville, Tennessee. Papa John’s stock jumped more than 3% in premarket trading Wednesday after the pizza chain announced an executive reshuffle and reported quarterly revenue that topped Wall Street’s estimates. He will remain in the role until Papa John’s finds a successor. The departures come as Papa John’s switches up its management structure. Prior to joining Papa John’s


Papa John’s International Inc. signage is displayed on top of a delivery vehicle outside of the company’s restaurant in Nashville, Tennessee.
Papa John’s stock jumped more than 3% in premarket trading Wednesday after the pizza chain announced an executive reshuffle and reported quarterly revenue that topped Wall Street’s estimates.
He will remain in the role until Papa John’s finds a successor.
The departures come as Papa John’s switches up its management structure.
Prior to joining Papa John’s
Papa John’s stock jumps after executive reshuffle announcement and revenue beat Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-06  Authors: amelia lucas
Keywords: news, cnbc, companies, johns, jumps, pizza, executive, chief, north, reshuffle, stock, cents, announcement, revenue, beat, company, share, officer, operating, papa


Papa John's stock jumps after executive reshuffle announcement and revenue beat

Papa John’s International Inc. signage is displayed on top of a delivery vehicle outside of the company’s restaurant in Nashville, Tennessee.

Papa John’s stock jumped more than 3% in premarket trading Wednesday after the pizza chain announced an executive reshuffle and reported quarterly revenue that topped Wall Street’s estimates.

Same-store sales in North America turned positive for the first time in two years, growing by 1%.

Shares of the pizza chain, which has a market value of $1.8 billion, were up 43% this year, as of Tuesday’s close.

Chief Financial Officer Joe Smith will leave the company in 2020 after nearly 20 years at the company. He will remain in the role until Papa John’s finds a successor.

Chief Operating and Growth Officer Mike Nettles and Chief Marketing Officer Karlin Linhardt will also be departing after a transition period.

The departures come as Papa John’s switches up its management structure.

“As we introduce a more focused plan and strategic priorities for the company, we are realigning Papa John’s senior management, promoting leaders within the company and adding proven talent,” CEO Rob Lynch said in a statement.

Lynch has been at the helm for two months. Prior to joining Papa John’s to replace CEO Steve Ritchie, he was president of Arby’s.

Max Wetzel will join the company as chief commercial and marketing officer. Wetzel served as chief transformation officer and vice president of consumer brands at PPG Industries, a paint supplier.

Nettles’ job as chief operating and chief growth officer will be split into two roles. Jim Norberg, who is currently the company’s head of restaurant operations, will take over as chief operating officer for North America. Jack Swaysland has been named chief operating officer for international markets.

Papa John’s also announced its fiscal third-quarter results Wednesday. Net sales rose 4.8% to $403.7 million, topping estimates of $386.9 million.

Papa John’s reported fiscal third-quarter net income of $385,000, or a loss of 10 cents per share, up from a loss of $13.3 million, or 42 cents per share, a year earlier.

Excluding financial assistance to North American franchisees and other items, the pizza chain earned 21 cents per share, falling short of Wall Street’s expectations of 23 cents per share.

Read the full earnings report here.


Company: cnbc, Activity: cnbc, Date: 2019-11-06  Authors: amelia lucas
Keywords: news, cnbc, companies, johns, jumps, pizza, executive, chief, north, reshuffle, stock, cents, announcement, revenue, beat, company, share, officer, operating, papa


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Roku shares tank 14% despite revenue beat for the third quarter

Roku stock tanked 14% in after-hours trading after the company reported Q3 results. It was not immediately clear whether the reported loss and expected loss were comparable. The company reported 32.3 million active accounts, up from 30.5 million during the previous quarter, and an average revenue per user of $22.58 compared to the previous quarter’s metric of $21.06. The company’s platform revenue for Q3 increased by 79% from the year ago period, to $179.3 million. In October, the company announ


Roku stock tanked 14% in after-hours trading after the company reported Q3 results.
It was not immediately clear whether the reported loss and expected loss were comparable.
The company reported 32.3 million active accounts, up from 30.5 million during the previous quarter, and an average revenue per user of $22.58 compared to the previous quarter’s metric of $21.06.
The company’s platform revenue for Q3 increased by 79% from the year ago period, to $179.3 million.
In October, the company announ
Roku shares tank 14% despite revenue beat for the third quarter Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-06  Authors: damaris martino
Keywords: news, cnbc, companies, tank, company, revenue, quarter, despite, beat, roku, million, streaming, reported, loss, shares, platform


Roku shares tank 14% despite revenue beat for the third quarter

Roku stock tanked 14% in after-hours trading after the company reported Q3 results.

Here’s what the company reported, compared with what Wall Street expected, based on a survey of analysts by Refinitiv:

Adjusted loss per share: 22 cents

22 cents Revenue: $261 million vs $256.9 million, according to Refinitiv consensus estimates

Analyst surveyed by Refinitiv had expected an adjusted loss per share of 28 cents. It was not immediately clear whether the reported loss and expected loss were comparable.

The company reported 32.3 million active accounts, up from 30.5 million during the previous quarter, and an average revenue per user of $22.58 compared to the previous quarter’s metric of $21.06.

Roku is targeting international expansion throughout the North and South American markets and expects to launch its first T.V. models in the UK by the end of 2020, the company said in its earnings conference call Wednesday.

The company raised guidance and now expects to bring in $1.11 billion in revenue, at the midpoint of a projected range, for the full year of 2019. That falls right in line with analyst expectations.

Roku expects its recent acquisition of Dataxu to drive revenue growth throughout Q4. Roku bought ad tech company Dataxu in October for $150 million. Dataxu allows marketers to plan and buy video ad campaigns.

Roku doesn’t charge subscription fees, but instead focuses on the advertising revenue it earns from partnerships. The company’s platform revenue for Q3 increased by 79% from the year ago period, to $179.3 million.

Roku’s hardware device revenue increased 11% from Q3 2018 to $81.6 million.

For the third quarter, Roku said users streamed 10.3 billion hours, up 68% from the same period a year ago.

The company faces tough competition from Google’s Chromecast and Amazon Fire TV — but says it’s ready to work with incoming streaming providers.

In October, the company announced it would host the Apple TV app and Apple TV+ service on its streaming platform.

Disney, AT&T and NBCUniversal are all set to launch their individual streaming services by early 2020.

Scott Rosenberg, Roku’s senior vice president and general manager of platform business, said after the company’s second-quarter earnings that Roku will benefit from the onslaught of streaming services coming in late 2019 and early 2020, and called Roku an “essential platform” for these companies.

Disclosure: NBCUniversal is the parent company of CNBC.


Company: cnbc, Activity: cnbc, Date: 2019-11-06  Authors: damaris martino
Keywords: news, cnbc, companies, tank, company, revenue, quarter, despite, beat, roku, million, streaming, reported, loss, shares, platform


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Uber stock falls after earnings beat estimates, but quarterly loss topped $1 billion

Uber announced earnings Monday that beat analyst estimates on the top and bottom lines for its third quarter of 2019. But the stock fell as much about 5% after the company reported over $1 billion in net losses. Uber fell short of estimates for gross bookings across its services, reporting $16.47 billion compared to estimates of $16.7 billion, according to Refinitiv. Analysts expected MPACs to reach 104 million, according to Refinitiv. Uber has unrestricted cash and cash equivalents of $12.7 bil


Uber announced earnings Monday that beat analyst estimates on the top and bottom lines for its third quarter of 2019.
But the stock fell as much about 5% after the company reported over $1 billion in net losses.
Uber fell short of estimates for gross bookings across its services, reporting $16.47 billion compared to estimates of $16.7 billion, according to Refinitiv.
Analysts expected MPACs to reach 104 million, according to Refinitiv.
Uber has unrestricted cash and cash equivalents of $12.7 bil
Uber stock falls after earnings beat estimates, but quarterly loss topped $1 billion Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-04  Authors: lauren feiner
Keywords: news, cnbc, companies, billion, company, falls, according, technology, topped, quarterly, stock, uber, earnings, quarter, reported, revenue, estimates, loss, beat, million


Uber stock falls after earnings beat estimates, but quarterly loss topped $1 billion

Uber announced earnings Monday that beat analyst estimates on the top and bottom lines for its third quarter of 2019. But the stock fell as much about 5% after the company reported over $1 billion in net losses.

Here are the key numbers:

Loss per share: 68 cents vs. 81 cents expected, according to Refinitiv estimates

68 cents vs. 81 cents expected, according to Refinitiv estimates Revenue: $3.81 billion vs. $3.69 billion expected, according to Refinitiv

Uber reported a net loss of $1.16 billion for the quarter, topping its $986 million loss during the same quarter last year. The loss includes $401 million in stock-based compensation. In an interview with CNBC’s Deirdre Bosa Monday, Khosrowshahi said the company is targeting adjusted EBITDA profitability in 2021.

“We know there is the expectation of profitability, and we expect to deliver for 2021,” Khosrowshahi said.

Later, on a call with analysts, Khosrowshahi addressed the trade-offs Uber will have to take to reach profitability. “The focus really is to drive lower rates based on the best technology out there rather than driving the growth through discounting,” he said, giving the example of a shift from steep discounts on shared rides to focusing on new features that let users save by waiting longer or walking to a pickup location.

Khosrowshahi stressed that efficiency and profitability are now priorities, while rapid growth was the focus in the past.

“It was absolutely the right set of priorities for the time,” he said. “Our priorities are changing.”

Uber raised guidance for its full year 2019, saying it expects adjusted net revenue to accelerate in the fourth quarter. The company bumped its guidance by $250 million, saying it now expects an adjusted EBITDA loss of $2.8 billion to $2.9 billion for the year.

The company reorganized its internal structure during the third quarter and provided results for its five operating segments: Rides, Eats, Freight, Other Bets and Advanced Technology Group (ATG) and Other Technology Programs. Uber will no longer report metrics for its core platform as a result, the company said.

Uber fell short of estimates for gross bookings across its services, reporting $16.47 billion compared to estimates of $16.7 billion, according to Refinitiv. Uber reported 103 million Monthly Active Platform Customers (MPACs), or the number of unique customers who completed a ride or received a meal delivery on the platform at least once in a month on average over the quarter. Analysts expected MPACs to reach 104 million, according to Refinitiv. The company’s take rate, calculated as the adjusted net revenue as a percentage of gross bookings, topped analyst estimates of 20.2%, coming in at 21.5%.

Revenue for Uber Eats, the company’s food delivery service, was up 64% year over year, clocking in at $645 million. Last quarter, revenue for the segment came in at $595 million. Uber Freight grew 78% year over year, coming to $218 million for the quarter. Uber’s most established segment, rides, grew 19% year over year to $2.90 billion.

Uber reported $38 million in revenue for its Other Bets, which includes segments like its scooter business, compared to $3 million in the same quarter last year. Revenue for ATG and Other Technology Programs, which includes its self-driving car business, was $17 million, according to the release.

Uber has unrestricted cash and cash equivalents of $12.7 billion, the company reported, up $0.9 billion from the second quarter of 2019. The company said it secured more cash through selling $1.2 billion of senior unsecured notes and closing a $1 billion investment in ATG.

Khosrowshahi began the analyst call defending Uber’s California ballot measure with DoorDash and Lyft aimed at combating a law that would make its drivers employees rather than contractors. He later answered a question about how new minimum pay laws and vehicle caps in New York City have impacted the business, saying increased prices have slowed trip growth in the region but it shows Uber “continues to grow and is resilient to the environment around it.”

Uber’s stock lockup is also set to expire this week, meaning many employees will likely be cashing in their shares soon. On the call with analysts, CFO Nelson Chai said the company has had “good and constructive dialogue with long term shareholders,” but ultimately doesn’t know what will happen to the stock on Wednesday.

Correction: This story has been updated to reflect the correct revenue estimate.

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Company: cnbc, Activity: cnbc, Date: 2019-11-04  Authors: lauren feiner
Keywords: news, cnbc, companies, billion, company, falls, according, technology, topped, quarterly, stock, uber, earnings, quarter, reported, revenue, estimates, loss, beat, million


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These companies reporting earnings in the week ahead almost always beat the Street

We’re now more than halfway through earnings season, but there are still a number of companies set to report quarterly results in the coming weeks. RokuRoku reports third quarter results on Wednesday after the market closes, and if history is any indication, there’s a good chance the company will beat expectations. This quarter analysts are expecting the company to report earnings of 11 cents, and $423.5 million in revenue, according to estimates from FactSet. Planet FitnessBespoke found that gy


We’re now more than halfway through earnings season, but there are still a number of companies set to report quarterly results in the coming weeks.
RokuRoku reports third quarter results on Wednesday after the market closes, and if history is any indication, there’s a good chance the company will beat expectations.
This quarter analysts are expecting the company to report earnings of 11 cents, and $423.5 million in revenue, according to estimates from FactSet.
Planet FitnessBespoke found that gy
These companies reporting earnings in the week ahead almost always beat the Street Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-02  Authors: pippa stevens
Keywords: news, cnbc, companies, report, estimates, quarter, company, cents, million, reporting, revenue, street, beat, ahead, week, stock, companies, results, earnings


These companies reporting earnings in the week ahead almost always beat the Street

(This story is part of the Weekend Brief edition of the Evening Brief newsletter. To sign up for CNBC’s Evening Brief, click here.) We’re now more than halfway through earnings season, but there are still a number of companies set to report quarterly results in the coming weeks. When it comes to names on deck for next week, CNBC crunched the numbers using data from Bespoke Investment Group and found five companies that almost always top the Street’s estimates.

Roku

Roku reports third quarter results on Wednesday after the market closes, and if history is any indication, there’s a good chance the company will beat expectations. While the company is relatively young — it went public on September 29, 2017 — Bespoke found that Roku has topped estimates every single quarter. And the stock has been on a tear since the company went public. Shares priced at $14 ahead of the IPO, and the stock now trades at $145. But the share surge has not been without volatility, and the stock has had a fair share of double-digit losses in a single session. Key metrics for investors to watch in the quarterly report include ad revenue and active users. Competition from Amazon is heating up, but the company has also said it expects the launch of streaming services from Disney and CNBC-parent company NBCUniversal to help attractive users to the platform. According to estimates from FactSet, analysts are expecting the company to lose 28 cents per share for the quarter, and report $256.7 million in revenue. This is a 48% increase from the $173.4 million that the company reported in revenue a year ago. That said, the 28-cent loss is wider than the 9-cent loss the company reported a year earlier.

Dropbox

Cloud company Dropbox reports third quarter results on Thursday after the market closes. According to Bespoke, it also beats estimates 100% of the time. The company may be consistently delivering on quarterly results, but the stock has struggled to keep up. Since the company’s March 22, 2018 IPO, shares are down 29%. This could in part be due to investors shifting away from high-growth momentum names, favoring names with proven profitability instead. This quarter analysts are expecting the company to report earnings of 11 cents, and $423.5 million in revenue, according to estimates from FactSet. In October Nomura upgraded the stock to a buy rating, saying that the company could be about to report an uptick in revenue after multiple quarters of deceleration. “We believe we are nearing an inflection in revenue after six quarters of deceleration as a public company,” Nomura analyst Christopher Eberle said in his October 22 upgrade. He also noted the company’s attractive valuation, industry-leading free cash flow, and margins of “mid-to-high 20s.” He has a $25 price target on the stock, which is 24% higher than where the stock currently trades. His EPS estimate of 11 cents for the quarter is in-line with consensus, while his $434.5 million target for revenue is above the Street.

Planet Fitness

Bespoke found that gym operator Planet Fitness tops earnings estimates 94% of the time. The company reports third quarter results on Thursday after the market closes, and analysts are expecting EPS of 35 cents and $161.8 million in revenue, according to estimates from FactSet. The stock climbed steadily higher for much of the year, but has since entered a bear market after coming under pressure since the June all-time high. The stock is also now trading below its 200-day moving average, which is a widely-followed technical indicator used to help determine a stock’s overall trend. Guggenheim reiterated its buy rating on the stock ahead of upcoming earnings, saying that despite the recent pullback the company’s fundamentals remain strong, and shares trade at an attractive valuation. “The company’s unique ability to produce 15-20% secular EBITDA growth while still generating $100-200 million of annual free cash flow over the next three to five years, by our estimates, merits a premium valuation to its growth-oriented peer group,” Guggenheim analyst John Heinbockel said in the October 28 note. He has an $85 target on the stock, implies a 34% upside ahead. He’s expecting the company to earn 34 cents for the quarter.

Shake Shack

The restaurant chain reports earnings on Monday after the close, and Bespoke found that it beats estimates 90% of the time. Analysts are looking for Shake Shack to report 21 cents in earnings, and $157.8 million in revenue, according to estimates from FactSet. But some think that may be too optimistic. Wedbush is expecting the company to earn 18 cents on $152.6 million in revenue. Analyst Nick Setyan has a neutral rating and $84 target on the stock. He believes cannibalization could be a potential headwind in coming quarters, and he also thinks that same-store sales growth guidance could be conservative. Shake Shack shares have surged this year, gaining 81% compared to the S&P’s 22% return.

Activision Blizzard


Company: cnbc, Activity: cnbc, Date: 2019-11-02  Authors: pippa stevens
Keywords: news, cnbc, companies, report, estimates, quarter, company, cents, million, reporting, revenue, street, beat, ahead, week, stock, companies, results, earnings


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