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Shares of Amazon Inc (NASDAQ:AMZN) plunged almost 10% in after-hours trading after the company reported a net loss of $3.8 billion in the first quarter ended March 31. The e-commerce giant fell short of a $4.4 billion profit forecast by analysts. Profit HitQ1 2022 hedge fund letters, conferences and more Rivian stock has crashed by 75% since going public in November last year, which then became the biggest IPO since Facebook —Meta Platforms Inc (NASDAQ:FB). Amazon CEO Andy Jassy said in a statement, “The pandemic and subsequent war in Ukraine have brought unusual growth and challenges.” “Today...
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Boeing Co (NYSE:BA) posted a loss of almost $1.5 billion for the quarter, due to costly delays amid the Russia-Ukraine conflict. The revenue and sales of the American aerospace manufacturer were also below analysts’ expectations. Earnings ReportQ1 2022 hedge fund letters, conferences and more Revenue of the company hit $13.99 billion, way short of analysts’ expectations of $16.02 billion. The company also said it had a $212 million charge due to Russia’s invasion of Ukraine, while delays in the Air Force One and the T-7A Red Hawk programs have cost the company $660 million and $367 million, re...
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Netflix Inc (NASDAQ:NFLX) lost 200,000 subscribers worldwide in the first quarter, the first drop in more than 10 years. The result sent its stock down by 25% on Wall Street in after-hours trading, painting a dark outlook for the streaming giant. Q1 DisappointmentQ1 2022 hedge fund letters, conferences and more The streaming giant explained the decline is mainly due to the difficulty of getting new subscribers around the world, and also to the suspension of the service in Russia, which cost the company 700,000 subscribers. The industry pioneer saw strong growth during the pandemic as the marke...
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Home Depot Inc (NYSE:HD) had a stellar fourth quarter as its sales grew by 11%, topping Wall Street’s expectations. After the release of its earnings report, the giant retailer is also betting on solid sales growth in 2022. Q4 2021 hedge fund letters, conferences and more EarningsAs reported by CNBC, sales of Home Depot grew 11% in Q4 and anticipated “slightly positive” growth sales and low single-digits earnings per share for the upcoming fiscal year. The retailer reported earnings per share of $3.21 against a $3.18 expectation, while revenue was better than expected, $35.72 billion versus $3...
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Walmart Inc (NYSE:WMT) had a solid fourth quarter by accruing revenue of $152.87 billion against $151.33 billion estimates. The retail giant has managed to navigate through record inflation and is on its way to achieving its long-term financial goals. Q4 2021 hedge fund letters, conferences and more Earnings ReportAs reported by CNBC, Walmart weathered the inflation storm in the fourth quarter ended January 31 by topping revenue estimates and achieving earning per share of $1.53 vs $1.50 expectations. Net income rose to $3.56 billion or $1.28 per share. The result represents a stunning comebac...
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Walmart Inc (NYSE:WMT) will report Q4 earnings on Thursday and experts are already touting the results as a way to measure the health of consumer spending. Amid the highest inflation in 40 years, retail sales of the company will depict how much American consumers are adjusting to the phenomenon. Q4 2021 hedge fund letters, conferences and more Retail HealthAs reported by CNBC, Walmart is set to release its earnings report for the quarter on Thursday, and investors are already impatient to see how the retail giant did and therefore how consumers are coping with inflation. Steph Wissink, a retai...
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Twitter Inc (NYSE:TWTR)’s earnings report for the fourth quarter missed analysts’ estimations. Not only did earnings and revenue fall short but also user daily user growth took a dent. Upon the release of the results, the social media company announced a $4 billion share buyback program. Q4 2021 hedge fund letters, conferences and more ResultsAs reported by CNBC, Twitter missed on earnings, revenue, and user growth expectations according to its earnings report Thursday. The company reported earnings per share of 33 cents —adjusted— against a 35 cents expectation. Further, Twitter accrued reven...
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Shares of Chevron Corporation (NYSE:CVX) dropped on Friday after the company disclosed its earnings report for the fourth quarter. Chevron beat revenue expectations but fell short on profit, despite the increasing costs of energy. Q4 2021 hedge fund letters, conferences and more A Mixed Q4As reported by CNBC, analysts had expected Chevron to earn $3.12 per share in the fourth quarter last year but pulled off $2.56. Still, the firm was expected to hit a revenue of $45.69 billion and managed to accrue a stellar $48.13 billion. On Friday, Chevron shares dropped by over 4% after soaring to a recor...
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Salesforce.com Inc (NYSE:CRM) stock was down 12% on Wednesday after the company’s earnings guidance for Q4 fell short of analysts’ estimates. According to the earnings report, Salesforce beat revenue and profit expectations for the third quarter. Q3 2021 hedge fund letters, conferences and more Adjusted GuidanceAs informed by CNBC, Salesforce stock dived 12% Wednesday on unflattering earnings guidance for the fourth quarter. It is the biggest drop since March 2020 when the COVID-19 pandemic shook the markets. The firm, however, posted better-than-expected profit and revenue for the previous qu...
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Procter & Gamble Co (NYSE:PG) has topped Wall Street estimates in terms of earnings and revenue as its fiscal first-quarter report was disclosed Tuesday. The company accrued revenue of $20.34 billion compared to $19.91 expectations, up 5% from last year. Q3 2021 hedge fund letters, conferences and more Fiscal ResultsAs reported by CNBC, the consumer giant also reported this quarter a net income of $4.11 billion, or $1.61 per share, down from $4.28 billion, or $1.63 per share, a year earlier, as “analysts surveyed by Refinitiv were expecting earnings per share of $1.59.” Organic sales grew with...
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