Breaking News: Earnings
Gap withdraws 2022 financial outlook as Old Navy sales fall in second quarter
An employee hands a customer a shopping bag at an Old Navy store in San Francisco. David Paul Morris | Bloomberg | Getty Images Gap Inc. on Thursday withdrew its financial outlook for the year after it swung to a net loss in the fiscal second quarter and its Old Navy chain continued to struggle […]
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Here’s how Peloton CEO Barry McCarthy’s turnaround plan is going
A Peloton show room displays bikes and treadmills on January 20, 2022 in Coral Gables, Florida. Joe Raedle | Getty Images Peloton investors are fleeing after the company’s discouraging fourth quarter. But CEO Barry McCarthy is trying to convince them to stick around for what he says will be a comeback story. Shares fell nearly […]
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Peloton experiences significant decline, drop in income as the business grinds through its turnaround plan
A person walks earlier a Peloton retail store on January 20, 2022 in Coral Gables, Florida. Joe Raedle | Getty Photos Peloton on Thursday documented widening losses and slumping gross sales in its fiscal fourth quarter as the related health gear maker tries to win again traders with cost cuts and strategic shifts. Shares declined […]
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Salesforce trims complete-year expectations for earnings and revenue
Marc Benioff, co-founder and co-CEO of Salesforce, speaks at the TIME100 Gala on June 8, 2022, in New York. Kevin Mazur | Getty Photos Salesforce claimed earnings and income that topped analysts’ estimates but gave a disappointing forecast for fiscal 2023. The inventory slid in extended trading on Wednesday. The corporation stated its board permitted […]
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Macy’s cuts full-year forecast despite strong quarter, fearing shoppers will pull back on spending
Macy’s on Tuesday cut its full-year forecast, saying it anticipates deteriorating consumer spending on discretionary items like apparel that will force the department store chain to use heavy markdowns to move items off shelves. The warning comes even as the retailer reported a fiscal second-quarter profit and revenue that topped analysts’ expectations. Macy’s now sees […]
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Zoom pares back again once-a-year forecast as profits development slows to one digits
Eric Yuan, founder and chief govt officer of Zoom Movie Communications Inc., speaks during the BoxWorks 2019 Conference at the Moscone Centre in San Francisco, California, U.S., on Thursday, Oct. 3, 2019. Michael Quick | Bloomberg Zoom Movie Communications shares fell as much as 8% in prolonged buying and selling on Monday immediately after the […]
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Tencent posts first ever revenue decline as tough gaming regulation, Covid lockdowns bite
Tencent has faced a number of headwinds in 2022 including a Covid-induced slowdown in the Chinese economy and a tougher market for gaming. Bobby Yip | Reuters Tencent posted its first ever quarterly year-on-year revenue decline as stricter regulations around gaming in China and a resurgence of Covid-19 in the world’s second-largest economy hit the […]
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Rivian posts second-quarter revenue above estimates, but expects a wider loss for the year
Rivian electric pickup trucks sit in a parking lot at a Rivian service center on May 09, 2022 in South San Francisco, California. Justin Sullivan | Getty Images Electric vehicle maker Rivian Automotive maintained its full-year guidance for deliveries Thursday and reported second-quarter revenue that was higher than Wall Street expected. But it trimmed its […]
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Disney subscriber growth blows past estimates, as company beats on top and bottom line
A performer dressed as Mickey Mouse entertains guests during the reopening of the Disneyland theme park in Anaheim, California, U.S., on Friday, April 30, 2021. Bloomberg | Bloomberg | Getty Images If Disney+’s subscriber growth is any indication, the rumors that the global streaming market is nearing saturation have been proven untrue. On Wednesday, the […]
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Coinbase shares drop on billion-dollar loss in second quarter and revenue miss
Brian Armstrong, CEO and Co-Founder, Coinbase, speaks during the Milken Institute Global Conference on May 2, 2022. in Beverly Hills, California. Patrick T. Fallon | AFP | Getty Images Coinbase shares dropped in extended trading on Tuesday after the crypto exchange reported a loss of over $1 billion in the second quarter and missed analysts’ […]
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