News

Corporate Earnings

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Lyft Inc on Tuesday posted an adjusted quarterly profit three months ahead of target, seizing on a leaner cost structure as rides rebounded, but it warned of ongoing driver shortages and the spread of the Delta coronavirus variant.

The company reported adjusted earnings before interest, taxes, depreciation and amortization for the first time in its nine-year history, and said it would remain profitable on that basis going forward.


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U.S. biotech Amgen Inc on Tuesday said its second-quarter revenue rose 5%, but recovery from the COVID-19 pandemic, which has limited patient interactions with healthcare providers, is expected to hit sales for the rest of 2021.

The pandemic "has suppressed the volume of new patients starting treatment," the company said in a statement.


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Caterpillar Inc on Friday reported a rise in second-quarter adjusted profit, as a recovery in global economic activity from pandemic lows fueled demand for its heavy machinery and construction equipment.

The company, an industrial bellwether and proxy for global economic activity, has been benefiting from higher infrastructure spending around the globe, particularly in China.


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Birkin handbag maker Hermès said it expected sales of its leather goods division to "normalize" after stellar growth in the first half of the year, flagging a slowdown of sorts even as it rides a sharp rebound in the luxury sector.

Hermes executives also said a half-year operating profit margin of 41% - the highest of the last decade - would not be replicated in the second part of the year, partly because the group plans to increase investments.


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Amazon.com Inc on Thursday said sales growth would slow in the next few quarters as customers venture more outside the home, a tepid start to CEO Andy Jassy's reign after 27 years with Jeff Bezos at the retailer's helm.

Spending growth by Prime members, Amazon.com's most valuable customers, has eased as well, the company said. Shares fell 6% in after-hours trade.


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Merck & Co reported quarterly revenue on Thursday that topped Wall Street estimates, as sales of its Gardasil vaccine bounced back and demand for blockbuster cancer drug Keytruda remained strong.

Sales of non-COVID-19 vaccines and physician-administered drugs are expected to recover as hospitals and clinics have started to adapt to the impact of the pandemic, Merck executives told investors.


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Apple Inc said on Tuesday that a global chip shortage that has bit into its ability to sell Macs and iPads will start to affect iPhone production and forecasted slowing revenue growth, sending its shares lower.

Apple executives said revenue for the current fiscal fourth quarter will grow by double-digits but be below the 36.4% growth rate in the just-ended third quarter. Growth will also slow in Apple's closely watched services business, they said.


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Twitter Inc on Thursday reported higher revenue growth than Wall Street had expected, as the social media platform rolled out ad targeting improvements to help brands reach potential customers.

Shares of Twitter rose 5.3% to $73.28 in trading after the bell.


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U.S. carriers American Airlines and Southwest Airlines on Thursday posted quarterly profits helped by a bookings rebound and federal aid and vowed to resolve hiccups across their operations as passengers return in droves.

Airlines quickly scaled back flying when the coronavirus gripped the industry in early 2020. Now they are rushing to return airplanes and workers to the skies as demand returns quicker than they had expected.


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Unilever Plc warned on Thursday that surging commodity costs would squeeze its full-year operating margin, overshadowing strong second-quarter sales growth fuelled by the easing of pandemic-related curbs in many of its markets.

Underlying sales for the maker of Dove soap maker rose 5% in the three months ended June 30, above 4.8% forecast by analysts. However, rising prices of everything from crude to palm and soybean oil made the company cut its operating margin outlook to "about flat" from slightly up earlier and flag greater uncertainty surrounding that forecast.