IBM’s ‘Accelerating’ AI Demand Helps Power Stock Higher After Earnings

/ / Technology /

By Emily Bary Company also notches a profit beat International Business Machines Corp.’s stock was surging more than 9% higher in Thursday afternoon trading after the technology giant topped profit expectations for the latest quarter and called out an uptick in artificial-intelligence demand. The company late Wednesday posted net income of $3.3 billion, or $3.55 a share, compared with $2.9 billion, or $2.96 a share, in the year-earlier period. On an adjusted basis, IBM (IBM) earned $3.87 a share from continuing operatings, whereas analysts were modeling $3.79 a share. Revenue rose to $17.4 billion from $16.7 billion, while the FactSet consensus was for $17.3 billion. The company saw a 3% increase in software revenue, a 6% bump in consulting revenue, and a 3% uptick in infrastructure revenue. Within the company’s software segment, which brought in $7.5 billion in total revenue, the company saw 8% growth in sales from Red Hat. […]

IBM’s ‘Accelerating’ AI Demand Helps Power Stock Higher After Earnings Read Post »

Raymond James Financial (NYSE:RJF) Stock Analyst Ratings

/ / Financials /

Raymond James Financial (NYSE:RJF) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/25/2024 2.23% UBS $116 → $115 Maintains Neutral 01/10/2024 20.01% JP Morgan $110 → $135 Upgrades Neutral → Overweight 01/09/2024 3.12% UBS $106 → $116 Maintains Neutral 01/09/2024 4.01% Jefferies $112 → $117 Downgrades Buy → Hold 01/04/2024 7.57% TD Cowen → $121 Initiates Coverage On → Market Perform 01/03/2024 3.12% Goldman Sachs → $116 Downgrades Buy → Neutral 10/30/2023 -11.1% Morgan Stanley $110 → $100 Maintains Equal-Weight 10/10/2023 4.9% Jefferies $128 → $118 Maintains Buy 09/22/2023 2.23% Citigroup $120 → $115 Maintains Neutral 09/19/2023 7.57% JP Morgan → $121 Initiates Coverage On → Neutral 09/11/2023 8.45% B of A Securities → $122 Initiates Coverage On → Buy 08/01/2023 -2.21% Morgan Stanley $112 → $110 Maintains Equal-Weight 07/31/2023 -2.21% Morgan Stanley $112 → $110 Maintains Equal-Weight 07/21/2023 -0.44% Morgan Stanley

Raymond James Financial (NYSE:RJF) Stock Analyst Ratings Read Post »

Blackstone Ends Bumpy Year With More Assets, but Lower Fee Revenue — Barrons.com

/ / Financials /

By Bill Alpert After a rough year with its real estate portfolio, asset management giant Blackstone finished its December quarter in better form than Wall Street expected. Blackstone’s December earnings of $1.11 a share were 4% above the year-ago quarter and about 15% better than forecasts. For the year, earnings fell 24%, to $3.95 a share. Yet over $1 trillion worth of assets were under its management, up 3% from September and 7% from 2022. The stock was up 3% by midday on the news, to $124. But the stock’s handsome multiple of 24-times rides largely on hopes that all the money Blackstone is managing will throw off fees. And the quarter’s fee-related earnings of 86 cents a share were a disappointment, slipping 2%. Much of the earnings beat came from factors like lower taxes and interest income. The firm’s stalling management fees put pressure on the company in 2024

Blackstone Ends Bumpy Year With More Assets, but Lower Fee Revenue — Barrons.com Read Post »

Southwest Airlines Co. (LUV) Q4 2023 Earnings Call Transcript Summary

/ / Consumer Discretionary /

The following is a summary of the Southwest Airlines Co. (LUV) Q4 2023 Earnings Call Transcript: Financial Performance: Southwest Airlines reported a record Q4 2023 with an operating revenue of just over $6.8 billion. The company benefited from about $1.5 billion in incremental year-over-year pre-tax profit from its network optimization efforts and strategic initiatives. Reported annual profits of $996 million, with Q4 net income of $233 million. Q4 unit cost excluding special items was down 16% year-over-year. The Q4 average fuel price was $3 per gallon, reduced guidance for Q1 and full year. The company returned $428 million to shareholders through dividend payments in 2023. Operating revenues of over $1 billion in Q4, an increase from Q4 2019. Full year 2023 operating revenue was a record $26 billion, showing a nearly 10% year-over-year growth. The airline reported a record number of passengers carried in the fourth quarter. Anticipates year-over-year double-digit

Southwest Airlines Co. (LUV) Q4 2023 Earnings Call Transcript Summary Read Post »

Blackstone Inc. (BX) Q4 2023 Earnings Call Transcript Summary

/ / Financials /

The following is a summary of the Blackstone Inc. (BX) Q4 2023 Earnings Call Transcript: Financial Performance: Blackstone’s Q4 featured active investment activity, with $31 billion deployed, up 2.5 times from Q3. The firm achieved gross returns of 16.4% in private credit strategies and 13% in liquid credit. Blackstone’s corporate private equity operating companies reported healthy revenue growth of 7% YoY in Q4. They raised nearly $5 billion in Q4. Blackstone’s total AUM increased 7% year-over-year to record levels. Total inflows for the year reached nearly $150 billion. Base management fees rose 7% to a record $6.5 billion. Fee-related earnings were stable at $4.3 billion for the year or $3.58 per share. Blackstone reported GAAP net income of $109 million for the Q4. Distributable earnings were $1.4 billion or $1.11 per common share in Q4. Business Progress: The firm foresees growth in their insurance channel, predicting AUM will reach $250

Blackstone Inc. (BX) Q4 2023 Earnings Call Transcript Summary Read Post »

Intel Reports Fourth-Quarter and Full-Year 2023 Financial Results

/ / Technology /

Intel Reports Fourth-Quarter and Full-Year 2023 Financial Results News Summary — Fourth-quarter revenue was $15.4 billion, up 10 percent year-over-year (YoY). Full-year revenue was $54.2 billion, down 14 percent YoY. — Fourth-quarter earnings per share (EPS) attributable to Intel was $0.63; non-GAAP EPS attributable to Intel was $0.54. Full-year EPS attributable to Intel was $0.40; non-GAAP EPS attributable to Intel was $1.05. — Forecasting first-quarter 2024 revenue of $12.2 billion to $13.2 billion; expecting first-quarter EPS attributable to Intel of $(0.25) (non-GAAP EPS attributable to Intel of $0.13). SANTA CLARA, Calif.–(BUSINESS WIRE)–January 25, 2024– Intel Corporation today reported fourth-quarter and full-year 2023 financial results. “We delivered strong Q4 results, surpassing expectations for the fourth consecutive quarter with revenue at the higher end of our guidance,” said Pat Gelsinger, Intel CEO. “The quarter capped a year of tremendous progress on Intel’s transformation, where we consistently drove execution and accelerated innovation, resulting

Intel Reports Fourth-Quarter and Full-Year 2023 Financial Results Read Post »

KLA Guides For Q3 EPS of $4.66-$5.86 on Revenue of $2.3 Billion, +/-$125 Million, Vs CIQ Analyst Consensus of $5.86/Share on Revenue of $2.5 Billion

/ / Technology /

KLA Guides For Q3 EPS of $4.66-$5.86 on Revenue of $2.3 Billion, +/-$125 Million, Vs CIQ Analyst Consensus of $5.86/Share on Revenue of $2.5 Billion.

KLA Guides For Q3 EPS of $4.66-$5.86 on Revenue of $2.3 Billion, +/-$125 Million, Vs CIQ Analyst Consensus of $5.86/Share on Revenue of $2.5 Billion Read Post »

Intel 4Q Sales Rebound Offers Hope for PC Demand

/ / Technology /

Intel sales rebounded in the fourth quarter, offering a signal of a strengthening PC market. The company says revenue rose 10% to $15.4 billion in 4Q, surpassing analysts estimates. The sales improvement helps Intel swing back to a profit, posting per-share earnings of 63 cents, ahead of the 21 cents forecast by analysts. The company’s computing segment saw revenue rise 33% from a year ago, helping offset a decline in data center and AI. Shares fall 6% to $46.58 after-hours.

Intel 4Q Sales Rebound Offers Hope for PC Demand Read Post »

Intel Reports Increase in Earnings, Revenue; Shares Slide in Late Trade After Q1 Outlook Trails Street Views

/ / Technology /

Intel (INTC) late Thursday reported non-GAAP Q4 net income of $0.54 per share, improving on net income of $0.15 per share during the same quarter in 2022. Analysts polled by Capital IQ, on average, had been looking for normalized earnings of $0.45 per share by the chipmaker. Revenue for the three months ended Dec. 31 rose to $15.41 billion, compared with $14.04 billion a year ago. The analyst consensus was for $15.17 billion. Intel is projecting a non-GAAP profit of $0.13 per share on between $12.2 billion to $13.2 billion in revenue for the current quarter ending March 31. The Street sees the company earning $0.32 per share in Q1 on revenue of $14.15 billion. Intel shares were nearly 7% lower in extended trading.

Intel Reports Increase in Earnings, Revenue; Shares Slide in Late Trade After Q1 Outlook Trails Street Views Read Post »

KLA 2Q Profit Falls Amid Continued Demand Weakness

/ / Technology /

KLA’s profit fell in the fiscal second quarter as the company continued to grapple with weaker demand. The Milpitas, Calif.-based company, which makes equipment for the semiconductor industry, posted a profit of $582.5 million, or $4.28 a share, in the quarter ended Dec. 31, compared with $978.8 million, or $6.89 a share, a year earlier. Analysts polled by FactSet expected per-share earnings of $5.66. Stripping out certain one-time items, adjusted per-share earnings came to $6.16, ahead of the $5.91 forecast by analysts, according to FactSet. Revenue fell to $2.49 billion from $2.98 billion a year earlier, beating the $2.46 billion expected by analysts polled by FactSet. “While market conditions remain challenging in the near-term, with limited visibility regarding the timing of a resumption in sustainable demand, we believe our business has stabilized around current revenue levels,” said Chief Executive Rick Wallace. The company is forecasting fiscal third quarter revenue of

KLA 2Q Profit Falls Amid Continued Demand Weakness Read Post »

Scroll to Top