Amazon.com Inc (NASDAQ:AMZN), up 5.25% to $125.85, last night reported better-than-expected financial results for its third quarter of 2023, with a notable beat on the bottom line.
The e-commerce giant’s quarterly earnings per share (EPS) came in at $0.94, a more than three-fold increase from a year earlier and much better than the $0.58 analyst consensus estimate. Its revenue for the period, meanwhile, rose 13% to $143.1 billion, edging past expectations of $141.4 billion.
Amazon Web Services (AWS) sales climbed 12% to $23.1 billion during the quarter, a slight miss on the analyst forecast of $23.2 billion. Read more
Intel Corporation (NASDAQ:INTC) stock jumped, up 7% to $34.83, after third-quarter earnings topped Street expectations.
The chipmaker posted adjusted earnings of $0.41 per share, well ahead of the $0.22 per share projected by analysts. Revenue was $14.16 billion, down 8% year-over-year and compared to Street expectations of $13.53 billion.
Sales from Intel’s Client Computing group, which includes its laptop and PC processor shipments, fell 3% to $7.9 billion. Read more
Ugg boots owner Deckers Outdoor Corp (NYSE:DECK) shares rose more than 9.6%%, to $531.07, after revenue and earnings beat Wall Street expectations.
At $1.092 the footwear firm’s second quarter revenue was up 25% and easily beat the consensus forecast of $961 million. Earnings were reported at $179 million or $6.82 per share, versus analyst expectations pitched at $4.43. Chief executive Dave Powers described it as an “exceptional performance”. Read more
Exxon Mobil Corporation (NYSE:XOM), up 0.56% to $108.20, told investors I is is targeting more cost savings after hitting its $9.0 billion ahead of schedule. The Texas oil giant made the announcement alongside third quarter results which showed earnings rose to $9.07 billion in the three months ended September 30, from $7.88 billion in the previous quarter, although they were more than halved from the $19.66 billion reported a year ago.
Exxon said the quarter showed a strong operating performance, including record third-quarter refining throughput as well as a higher crude price and industry refining margin environment. Read more
Rival Chevron Corporation (NYSE:CVX), down 2.4% to $151, reported a near halving of net income in the third quarter, reflecting reduced margins and fluctuating oil prices. The oil company's total revenue in the three months to September 30 fell 19% to $54.08 billion from $66.64 billion, while net income slipped 42% to $6.56 billion from $11.24 billion the year before. Basic net income per share fell 40% to $3.48 from $5.81. Read more
Ford Motor Company (NYSE:F) saw its stock falling, down 3.8% to $10.92, as the car maker slashed its electric vehicle (EV) investment plans by US$12 billion citing customers’ refusal to pay a premium for EVs as the reason. Read more
Chipotle Mexican Grill (NYSE:CMG) (Chipotle Mexican Grill (NYSE:CMG)), up 4% to $18.80, posted an earnings beat for the third quarter with earnings per share (EPS) of $11.36, up 19.5% from the same period in 2022, which topped Wall Street estimates of $10.46.
Revenue grew 11.3% year-over-year to $2.5 billion, topping analysts’ forecast of $2.47 billion. Read more
Ubisoft Entertainment (OTC:UBSFF, EPA:UBI), up 6.5% to €27.63, on second-quarter revenue that arrived ahead of expectations, thanks to the game studio’s strong back-catalogue sales. Net bookings came in at €554.8 million (£483.4 million) during the second quarter, the French gaming firm said, well ahead of a targeted €350 million. Read more
Italian luxury fashion brand Moncler (BIT: MONC), down 6.2% to €48.64, reported a slowdown in sales growth over the third quarter of the year.
Though the group reported a 7% increase in revenue to €669.7 million, this was far from the 24% jump seen at the half-year stage and comes as analysts tip the luxury sector may be beginning to feel the effects of wider economic uncertainty. Read more