Author: Bruno T
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With Profit Of US$ 7.7 Billion, Meta Resumes Growth In The 2nd Quarter
Shares in Meta Platforms were up more than 8% before US markets opened, compared with revenue forecast to rise by as much as 20% this quarter. With a 16% increase in net profit and 11% in net revenue in the three months ended June 30, Meta Platforms (NASDAQ:META), owner of social networks Facebook, Instagram, Threads…
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Coca-Cola Net Profit Rises 34% In The 2nd Quarter to $2.547 Billion
Coca-Cola (NYSE:KO) reported net income of US$ 2.547 billion in the second quarter of 2023, which represents an increase of 34% compared to the same period of the previous year. On the same basis of comparison, revenue totaled US$ 11.972 billion, an increase of 6%. The results reflect the increase in sales, the consumer base…
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Microsoft Net Income Up 20% In Fiscal Fourth Quarter To $20.1 Billion
Microsoft (NASDAQ:MSFT) reported net income of $20.1 billion in the fourth fiscal quarter of 2023 (ended June 30), up 20% from the same period a year ago. Diluted earnings per share were $2.69, up from $2.23 a year ago, while operating profit was $24.2 billion, up 18% year-on-year. The company’s revenue expanded 8% in the…
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Alphabet Profit Rises 14.75% In The Second Quarter To $18.36 Billion
Alphabet, parent company of Google (NASDAQ:GOOGL), reported net income of US$ 18.36 billion in the fiscal second quarter, ended on June 30, a result 14.75% higher than the net profit of US$ 16 billion presented between April and June 2022. Net earnings per share for the second quarter were $1.44, beating Refinitiv analysts’ expectations for…
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Verizon Sees 10.3% Drop In Q2 Profit, Revenue Down 3.5%
Verizon (NYSE:VZ), the largest US wireless carrier by number of subscribers, reported net income of $4.8 billion for the second quarter of 2023, down 10.3% from the same period a year earlier. Revenue fell 3.5% year-on-year to $32.6 billion. The drop in profit reflects a pre-tax loss on special items of $598 million, including severance…
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General Motors Posts Net Income Of $2.57 Billion In Q2, Up 51.6%
General Motors (NYSE:GM) reported net income of US$ 2.57 billion in the second quarter, up 51.6% in the annual comparison. The American automaker added revenues of US$ 44.7 billion between April and June, growth of 25.1% over the same period of 2022. “I’m pleased to share with you that GM’s operating results continue to demonstrate…
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3M Reverses Profit And Has A Loss Of US$ 6.8 Billion In 2Q23
3M (NYSE:MMM) reported a loss of US$6.841 billion in the second quarter of 2023, compared to a profit of US$82 million reported in the previous period. On the same basis of comparison, revenue totaled US$ 8.325 billion, a decrease of 4.33%. According to the company, the results reflect the reduction in the sale of electronic…
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Spotify Sees Second-Quarter Loss Spike, But Hits User Target and Stocks Plummet
Spotify (NYSE:SPOT) recorded a net loss of 302 million euros in the second quarter, up 142% in losses over the same period of 2022. The company points out that it reached 551 million users at the end of June, a growth of 27% in the year, above the proposed target. The net addition of 36…
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Netflix Shares Fall Despite Best Q2 Since The Pandemic
Netflix (NASDAQ:NFLX) shares are set for the largest fall this year following a lower than anticipated projection of Q3 earnings, eliciting a negative response from investors. The streaming giant’s attempts to curb password sharing and implement a new advertising strategy have yet to deliver the anticipated sales growth. On Wednesday, the revealed data led to…
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Goldman Sachs Profit Falls With Investment Banks And Accounting Decline In Consumer and Real Estate Portfolios
Goldman Sachs (NYSE:GS) profit plummeted as the Wall Street giant posted one of its weakest quarters under CEO David Solomon. Goldman Sachs Group reported Q2 earnings Wednesday of $3.08 per diluted share, down from $7.73 a year earlier. Analysts polled by Capital IQ expected $4.14. Earnings fell 58% on declines in investment banking, real estate…