Earnings

J.P. Morgan Chase, the biggest U.S. lender by assets, posted record second-quarter profit of $8.32 billion, exceeding estimates as it posted stronger-than-expected trading results. Profit surged 18 percent, clobbering analyst estimates for a 9.4 percent increase. Earnings per share were $2.29 in the quarter, beating the $2.22 estimate. It was the 14th straight quarter that
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Citigroup shares fell Friday after the banking giant reported weaker-than-expected quarterly revenue. The company’s earnings per share, however, topped estimates. Here is how Citigroup’s second-quarter results fared against Wall Street estimates: Earnings: $1.63 per share vs $1.56 forecast by Thomson Reuters Revenue: $18.469 billion vs $18.512 billion expected by Reuters The company’s stock fell by
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Wells Fargo is scheduled to report second-quarter earnings before the market opens on Friday. Here’s what Wall Street expects: Earnings: $1.12 per share, forecast by Thomson Reuters Revenue: $21.677 billion, forecast by Thomson Reuters Net income: $5.47 billion estimated, which would be down 1.1 percent from the first quarter. The bank has been under pressure
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Shares of PNC Financial Services rose nearly 2 percent in premarket trading Friday after beating estimates in its second-quarter earnings report. The regional bank reported earnings of $2.72 per share, beating estimates from analysts surveyed by Thomson Reuters by 14 cents. PNC also posted better-than-expected revenue, bringing $4.32 billion, compared to $4.25 billion expected. PNC
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Delta Air Lines reported second-quarter profit that topped analysts’ expectations. Delta posted adjusted earnings per share of $1.77, compared with Wall Street estimates of $1.72 a share. Revenue in the three months ended in June was $11.78 billion, compared with analyst expectations of $11.72 billion. Airlines are grappling with a roughly 60 percent rise in
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PepsiCo‘s quarterly numbers Tuesday morning may be a signal for another strong earnings seasons, according to CNBC’s Jim Cramer. “They reported exactly what the bulls wanted,” said Cramer, whose charitable trust owns shares of the New York-based food and beverage company. Pepsi’s stock rose Tuesday after the company reported fiscal second-quarter earnings that beat Wall
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Bullish Wall Street watcher Bill Stone sees a strong earnings season ahead, with energy and technology stocks grabbing the biggest profits. In a recent interview, PNC’s former global chief investment strategist cited strong economic fundamentals as a major catalyst for blowout numbers. “From an earnings standpoint, energy probably will grow earnings about 130 percent, and
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Cheerios cereal maker General Mills on Wednesday reported a quarterly profit that topped analysts’ estimates, as its efforts to reduce costs and improve its distribution network paid off. Gross margins of the company, which is also known for its Haagen-Dazs and Betty Crocker brands, rose to 36.5 percent in the fourth quarter from 34.7 percent
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Lennar reported a 45 percent rise in second-quarter profit on Tuesday, helped by strong housing demand amid an expanding economy and job growth. The U.S. home builder’s shares rose nearly 8 percent in premarket trading. Orders, an indication of future revenue for homebuilders, jumped 62.3 percent to 14,440 homes in the quarter. The Miami-based builder
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Wall Street is buzzing over Micron’s surging profit growth and its better-than-expected sales forecast. Micron shares rose 4 percent at one point in early trading Thursday, a day after it reported better-than-expected fiscal third-quarter earnings and gave a fourth-quarter revenue guidance above consensus expectations. The stock closed up nearly 1 percent on Thursday. J.P. Morgan
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Investors are rallying behind Darden Restaurants. Shares of the restaurant group surged more than 10 percent in early trading Thursday after the company posted better-than-expected fiscal fourth-quarter earnings, buoyed by strong sales at most of its restaurants, and raised its quarterly dividend. “Our solid fourth quarter results concluded another strong year of performance as we
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Canadian software maker BlackBerry on Friday reported quarterly revenue and profit that topped analysts’ estimates, driven by strong growth in its high-margin software and services business. U.S.-listed shares of BlackBerry rose 2.6 percent to $11.89 in premarket trading. The Waterloo, Ontario-based company said revenue from its enterprise software and services business rose 18 percent to
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Red Hat stock fell by more than 11 percent on Thursday after the company reported better-than-expected earnings for the first quarter of its 2019 fiscal year but lower-than-expected guidance. Here’s how the company performed: Earnings: Excluding certain items, 72 cents per share, vs. 69 cents per share as expected by analysts, according to Thomson Reuters.
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Oracle reported better-than-expected earnings for its fiscal fourth quarter after customers spent more money on cloud services. The stock rose slightly in extended trading after falling 0.5 percent to $46.27 at the close. But after the company provided guidance, the stock tumbled. Here are the numbers: Earnings: Excluding certain items, 99 cents per share vs.
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