Steepest Home-Price Declines in Fourth Quarter Were in the West: WSJ
U.S. home prices rose in the fourth quarter from a year earlier, but once-booming West Coast markets were among a growing number of metro areas to post price declines. Source link
Opinion: Apple offers breadcrumbs for a forecast, but is that enough to reassure Wall Street?
Apple Inc.’s breadcrumbs lead back to a familiar place: The iPhone is all that matters. After posting its largest revenue decline in more than six years — led by underwhelming iPhone sales — in its fiscal first-quarter earnings report Thursday, Apple once again refused to provide a traditional forecast for the coming quarter or year. […]
Meta stock spikes despite earnings miss, as Facebook hits 2 billion users for first time and sales guidance quells fears
Meta Platforms Inc. shares soared in after-hours trading Wednesday despite an earnings miss, as the Facebook parent company guided for potentially more revenue than Wall Street expected in the new year and promised more share repurchases amid cost cuts. Meta META, +2.79% said it hauled in $32.17 billion in fourth-quarter revenue, down from $33.67 billion […]
Electronic Arts stock plunges more than 10% as mobile versions of popular games shelved amid cuts
Electronic Arts Inc.’s earnings and revenue from the prior year were previously incorrect. They have been updated. Electronic Arts Inc. shares plummeted more than 10% in after-hours trading Tuesday, after executives disclosed disappointing forecasts and announced they are delaying an anticipated title and killing off the mobile versions of two popular games, which is expected […]
UPS foresees ‘mild recession’ in 2023 and posts first revenue decline since the 2008 financial crisis
Shares of United Parcel Service Inc. rallied Tuesday, even after the package-delivery giant reported a surprise decline in fourth-quarter revenue, missing Wall Street expectations for the first time in 12 quarters, and warned of the first yearly decline in revenue in 14 years. Investors expressed relief, however, as UPS beat fourth-quarter profit expectations, raised its […]
Royal KPN posts forecast beating profit, begins $325.5 million share buyback program
Royal KPN NV on Tuesday reported a 21% rise in fourth-quarter net profit that beat forecasts, and said it has started a new 300 million-euro ($325.5 million) share buyback program. The Dutch telecommunications operator KPN, +0.92% made a net profit for the quarter of EUR190 million compared with EUR157 million for the same period a […]
J.D. Wetherspoon sales rise on year, but remain short of prepandemic levels
J.D. Wetherspoon PLC said Wednesday that sales for the first half of fiscal 2023 rose on year though remained below prepandemic levels, and said it was cautiously optimistic for the full-year. The U.K. pub operator UK:JDW said sales on a like-for-like basis for the half-year period ended Jan. 22 rose by 13%, though remained 0.7% […]
Microsoft stock dives into the red after forecast misses, CFO warns about deceleration
Microsoft Corp.’s profit declined more than 12% in the holiday season, and executives said Tuesday that a revenue deceleration at the end of 2022 is expected to continue into the new year as the company lays off workers. Microsoft MSFT Chief Financial Officer Amy Hood said in a conference call Tuesday that “we are seeing […]
Bad omen? Americans ate out less over the holiday season.
What’s one of the first things people do when they get worried about the economy? They cook more at home and eat out less. That’s what happened toward the end of 2022. Sales at bars and restaurants fell in both November and December — the first back-to-back monthly declines in almost a year. Receipts at […]
Taiwan Semiconductor Manufacturing reports record net profit and revenue on chip demand
Taiwan Semiconductor Manufacturing Co. said Thursday that fourth-quarter net profit rose to a new record thanks to growing demand for high-speed computing and better margins. The world’s largest contract chip maker 2330, +0.41% TSM, +0.63% said net profit for the quarter ended Dec. 31 rose 78% from a year earlier to 295.90 billion Taiwan dollars […]