Nvidia forecast fourth-quarter revenue slightly above estimates on Wednesday, but still failed to meet lofty expectations of some investors who have made it the world’s most valuable firm. Shares of the Santa Clara, California-based company fell roughly 2% in extended trading. They had closed down 0.8% on Wednesday. The company forecast revenue of $37.5 billion, plus … Read more
Elon Musk’s Tesla said on Wednesday it expects to achieve slight growth in vehicle deliveries this year and reported a higher-than-expected profit margin for the third quarter, sending shares up 5% after hours. “We delivered strong results in Q3 with growth in vehicle deliveries both sequentially and year-on-year, resulting in record third-quarter volumes,” Tesla said in a statement. … Read more
Delta Air Lines on Thursday warned of a hit to its fourth-quarter revenue, saying consumers want to be home around the upcoming US presidential election and are holding off discretionary spending. Still, the Atlanta-based carrier said the current quarter is shaping up to be one of the most profitable fourth quarters in its history due to … Read more
Nike withdrew its annual revenue forecast on Tuesday and missed estimates for quarterly revenue as the sportswear giant battles weak footwear demand amid stiff competition from newer brands globally, sending its shares down 6% after hours. It had earlier forecast a mid-single-digit percentage range decline in annual revenue. The company is yet to see sales benefits from its drive to … Read more
Lululemon promised to crank out new styles following the failure of its “Breezethrough” leggings — after an outpouring of embarrassing reviews prompted the pricey athleisure maker to pull them off shelves. The Vancouver, Canada-based company stopped sales of the newly launched $98 leggings in July as shoppers criticized the V-shaped back seam of the tights … Read more
News Corp beat Wall Street estimates for fourth-quarter revenue on Thursday, boosted in part by digital subscription growth at its Dow Jones business. The New York-based media giant — which owns The Post, The Wall Street Journal and Dow Jones — said revenue in the quarter ended June 30 jumped 6% to $2.58 billion, compared … Read more
McDonald’s on Monday reported its first sales drop since the early days of the coronavirus pandemic as the burger giant struggled to draw in cash-strapped customers because of inflated menu prices. The Chicago-based fast food chain — which rolled out a $5 value meal last month to lure customers — said that its same-store sales … Read more
Alphabet beat second-quarter revenue and profit estimates on Tuesday, driven by a rise in digital advertising sales and healthy demand for its cloud computing services, but flagged that capital expenses would remain high for the year. Alphabet’s results underscore robust demand for digital ads, driven by events like the Paris Olympics and elections in several countries including … Read more
Nike on Thursday forecast a surprise drop in fiscal 2025 sales, after disappointing fourth-quarter sales laid bare the company’s weakening market share and its faltering direct-to-consumer strategy. Shares of the company were down 12% in extended trading after Nike also forecast a wider-than-expected drop in first-quarter revenue. The company’s efforts to drive more sales through its direct-to-consumer channel … Read more
Nvidia is one of the world’s biggest companies, with a market capitalisation of $3.11 trillion. The Nvidia stock returned a phenomenal 282,884% in total returns since its 1999 IPO or 36.8% in average annual returns over the last 25 years. The chipmaker’s massive leap into powering AI engines and growing demand for graphics processing units … Read more
