Another batch of quarterly profits beat analyst expectations, but some warn that the rally could be short-lived, giving way to more selling.
Category: Company Reports
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Netflix Reverses Decline, Adding 2.4 Million Subscribers
Netflix, which has about 223 million subscribers worldwide, will soon introduce a lower-priced service with ads in a bid to attract more customers.
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Goldman Sachs Restructures Its Divisions, Elevating Tech Offerings as Profit Falls
The bank will combine trading and investment banking into one unit; asset management, wealth management and consumer businesses into another; and its digital offerings in a third.
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Bank of America’s Earnings Suggest U.S. Consumers Remain Strong and Active
Loan and deposit growth at the nation’s second-largest bank suggest that a possible global economic slowdown has not yet hurt many Americans.
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As Fox and News Corp Weigh Merger, an Activist Has Its Own Vision
Irenic Capital Management, which has a $150 million stake in News Corp, wants the company to split up its media and real estate listings businesses.
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Morgan Stanley’s 30% Profit Drop Sends Stock Price Down
The Wall Street firm reported lower fees and weaker revenue from trading stocks in the third quarter.
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Citigroup Quarterly Profit Falls 25%
The bank reported a 25 percent decline in profit in the third quarter, versus last year, in part because of “very challenging markets.”
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JPMorgan’s Profit Shrinks, but Chief Says U.S. Customers Are ‘Healthy’
The bank earned $9.7 billion in the third quarter, down from last year. It also added to reserves against loan losses and took a hit on some investments.
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JPMorgan, Citigroup and Other Big Banks See Profits Drop
Lenders foresee economic “headwinds,” but household spending is mostly holding up, buffering profits from turmoil in financial markets.
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Wells Fargo’s Scandals Drag on Profit as It Braces for a ‘Slowing Economy’
The bank’s earnings took a $2 billion hit, bringing its profit down to $3.5 billion in the third quarter.
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Delta Earnings Are Solid as Airline Signals Optimism on Travel Demand
The carrier reported a healthy profit for the third quarter after a busy summer. Competitors also seem confident despite economic turbulence.
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Pepsi Defies Fears of Slowdown with Strong Earnings and Forecast
Quarterly results provided a sign that shoppers continued to spend despite high inflation squeezing their wallets.