Consumer Discretionary

Netflix (NASDAQ:NFLX) Q2 Earnings, Revenue Increase; Additions Beat Forecasts

Netflix (NASDAQ:NFLX) reported Q2 earnings  of $3.29 per diluted share, up from $3.20 a year earlier. Analysts polled by Capital IQ expected $2.85 per share. Revenue for the quarter ended June 30 was $8.18 billion, up from $7.97 billion a year earlier. Analysts surveyed by Capital IQ expected $8.29 billion. The streaming giant said its global paid net additions stood at 5.89 million in Q2. Analysts polled by Visible Alpha were expecting 2.3 million. Netflix said it expects Q3 EPS of $3.52 on revenue of $8.52 billion. Analysts polled by Capital IQ are looking for EPS of $3.19 and revenue of $8.68 billion.

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United Airlines (NASDAQ:UAL) Q2 EPS, Revenue Gain; Full-Year EPS Outlook Lifted

United Airlines (NASDAQ:UAL)  reported Q2 adjusted earnings per share of $5.03, up from $1.43 a year earlier. Analysts polled by Capital IQ expected a normalized EPS of $4.06. Revenue for the quarter ended June 30 was $14.2 billion, up from $12.1 billion a year earlier. Analysts surveyed by Capital IQ expected $13.9. For 2023, United raised its full-year adjusted EPS estimates to $11 to $12 versus previous guidance of $10 to $12. Analysts expect $9.78.

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Tesla (NASDAQ:TSLA) Q2 Adjusted Earnings, Revenue Rise

Tesla (NASDAQ:TSLA) reported fiscal Q2 adjusted earnings of $0.91 per diluted share, up from $0.76 a year earlier. Analysts polled by Capital IQ expected $0.82. Revenue for the quarter ended June 30 was $24.93 billion, up from $16.93 billion a year earlier. Analysts surveyed by Capital IQ expected $24.73 billion. For fiscal 2023, the automaker said it expects to remain ahead of the long-term 50% compound annual growth rate in production with about 1.8 million vehicles.

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Macy’s (NYSE:M) Lowers Full-Year Guidance as Fiscal First-Quarter Comparable Sales Decline

Macy’s (NYSE:M) lowered its full-year sales and earnings guidance on Thursday after reporting a decline in fiscal first-quarter comparable sales amid weakness in discretionary spending caused by macro-level impacts. The department store chain’s net sales guidance was lowered to a range of $22.8 billion to $23.2 billion from a prior view of $23.7 billion to $24.2 billion. Macy’s expects its comparable owned-plus-licensed sales to decline 6% to 7.5% this year, compared with the previous outlook of a 2% to 4% drop. The company’s adjusted per-share earnings guidance was shifted down to between $2.70 and $3.20 from $3.67 to $4.11. Analysts surveyed by Capital IQ had been expecting full-year revenue of $24.01 billion and normalized EPS of $3.72. Shares of Macy’s were down 3% in Thursday trade.

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