Corporate Earnings

Reuters | |

IBM Corp missed Wall Street estimates for quarterly revenue on Thursday, hurt by a rare sales decline in its software unit as clients shied away from longer-term deals due to pandemic-induced economic uncertainty.

The 109-year-old firm is preparing to split itself into two public companies and the namesake firm will focus on the so-called hybrid cloud, where companies use a combination of their own datacenters and leased resources to manage and process data.

Reuters | |

The incoming chief executive of Intel Corp said on Thursday that most of the company’s 2023 products will be made in the company’s factories but outlined a dual-track future in which Intel will lean more heavily on outside factories.

Shares rose 6.5% during regular trade Thursday to $62.46, when the results were released inadvertently ahead of the close. The Financial Times quoted the company as saying it had been hacked. After hours, shares fell 4.7% to $59.55.

Kimberly Redmond | |

After reporting its first quarterly net profit since oil prices took a nosedive in March 2020, Baker Hughes believes a rebound is on the horizon. 

On Thursday, the Houston-based company posted fourth quarter net income of $653 million, or $0.91 a share, compared with $48 million, or $0.07 a share, during the fourth quarter of 2019.

On an adjusted basis, however, the oilfield equipment and services provider reported a loss of $50 million, or $0.07 per share, in the quarter ending Dec. 31. Analysts had been looking for adjusted earnings of $0.17 per share.

Kimberly Redmond | |

Alcoa Corp, the largest producer of aluminum in the U.S., reported fourth quarter earnings and revenue that topped analyst expectations.


The results, released Wednesday, are an improvement over the previous three quarters of 2020, reflecting a pick-up in the automotive sector sales and higher aluminum prices.


The Pittsburgh-based company’s quarterly and annual earnings report show a fourth-quarter loss of $4 million, o...

Kimberly Redmond | |

As COVID-19 pandemic-related travel restrictions and concerns about contracting the virus continue, United Airlines posted its fourth consecutive quarterly loss and said it expects sales to continue to struggle in the first quarter of 2021.

In its earnings report released Wednesday, the Chicago-based carrier reported an adjusted net loss of $2.1 billion for the final three months of 2020 and $7.7 billion for the entire year. 


The fourth-qu...

Kimberly Redmond | |

ASML Holding posted better-than-expected results for the fourth quarter of 2020, a trend that the Netherlands-based technology giant expects to continue this year.

In its quarterly and yearly results released Wednesday, ASML reported 4.3 billion euros ($5.2 billion) in sales and net income of 1.4 billion euros ($1.6 billion), beating Wall Street’s expectations for the final three months of 2020.

Kimberly Redmond | |

Netflix surpassed the 200 million subscriber mark during the fourth quarter of 2020, capping off its biggest-ever year of growth due to viewership gains prompted by the COVID-19 pandemic.

On Tuesday, in its quarterly earnings report, the streaming service announced it added 8.51 million paid subscribers during the period, blowing past Wall Street analyst estimates of 6.03 million. For the year, Netflix added 37 million paid members, boosting its subscribers by 22%. 


Kimberly Redmond | |

UnitedHealth Group reported a drop in fourth quarter earnings, a decline the health insurance company partially attributed to COVID-19-related care costs.

On Wednesday, the Minnesota-based company reported a quarterly profit of $2.21 billion, a 37% decrease, but ahead of Wall Street's expectations. On a per-share basis, UnitedHealth's net income was $2.30 per share, or $2.52 after one-time adjustments.

Reuters | |

Procter & Gamble Co raised its full-year sales forecast for a second time on Wednesday as the consumer products giant benefited from a sustained high level of demand for its home care and cleaning products due to the COVID-19 pandemic.

The company’s shares rose 1% before the opening bell after the Cincinnati-based conglomerate also said it would buy back up to $10 billion worth of shares in fiscal 2021, compared to $7 billion to $9 billion it expected earlier.

Reuters | |

Morgan Stanley posted an about 57% rise in fourth-quarter profit on Wednesday, as the Wall Street bank’s trading business benefited from coronavirus-induced volatility in financial markets.

Net income applicable to common shareholders rose to $3.27 billion, or $1.81 per share, in the quarter ended Dec. 31, compared with $2.09 billion, or $1.30 per share, a year earlier.

Analysts had expected a profit of $1.27 per share, according to Refinitiv IBES data.