Alphabet (NASDAQ:GOOGL) will adjust its earnings report next quarter: AI research division will disclose separately

/ / Technology /

Google parent company Alphabet (NASDAQ:GOOGL) reportedly announced in its fourth-quarter earnings report that the company will adjust the way AI investments are disclosed in the future. Although the previous DeepMind AI research division has been hidden in the “Other Bets” category, it will be disclosed as part of Alphabet’s costs in the future, reflecting the increasing use of related technology in all departments such as Google Services and Google Cloud.

Alphabet (NASDAQ:GOOGL) will adjust its earnings report next quarter: AI research division will disclose separately Read Post »

Apple’s (NASDAQ:AAPL) iPhone sales fell for the first time in three years

/ / Technology /

Not only did Apple’s (NASDAQ:AAPL) fourth-quarter revenue and profit fall short of expectations, but sales of its star product, the iPhone, fell for the first time since 2020. iPhone sales in the fourth quarter were US$65.78 billion, lower than the expected US$68.3 billion, down 8.2% year-on-year, the first year-on-year decline since the third quarter of 2020, mainly due to the disruption of high-end flagship mobile phone production in the fourth quarter of last year by the epidemic.

Apple’s (NASDAQ:AAPL) iPhone sales fell for the first time in three years Read Post »

Ford Motor expects new U.S. car prices to fall 5 percent this year

/ / Consumer Discretionary /

Ford Motor Co. expects new U.S. car prices to fall about 5 percent this year as automakers ramp up discounts, giving consumers a temporary relief from last year’s price shock. Parts shortages have drained dealerships’ vast inventories over the past three years and pushed the average selling price of a new car to a record $49,507 last December, according to Kelley Blue Book. But Ford believes that will ease this year.

Ford Motor expects new U.S. car prices to fall 5 percent this year Read Post »

Apple (NASDAQ:AAPL) had revenue of $117.15 billion in Q1 2023

/ / Technology /

Apple (NASDAQ:AAPL) revenue for the first quarter of fiscal 2023 was $117.15 billion, versus market expectations of $121.14 billion; Q1 IPHONE revenue was US$65.78 billion, market expectations were US$68.3 billion, first-quarter services revenue was US$20.77 billion, market expectations were US$20.47 billion, first-quarter Greater China revenue was US$23.91 billion, market expectations were US$21.8 billion;In the first quarter, Mac revenue was $7.74 billion, compared with market expectations of $9.72 billion; iPad revenue in the first quarter was $9.40 billion, market expectations were $7.78 billion; and first-quarter wearables, home and accessories revenue was $13.48 billion, market expectations were $15.32 billion.

Apple (NASDAQ:AAPL) had revenue of $117.15 billion in Q1 2023 Read Post »

Gilead Sciences’ (NASDAQ:GILD) Q4 2022 revenue of $7.4 billion was higher than market expectations

/ / Health Care /

Gilead Sciences’ (NASDAQ:GILD) fourth-quarter 2022 revenue was $7.4 billion, versus analysts’ expectations of $6.64 billion. Veklury’s revenue in the fourth quarter was $1.00 billion, compared with analysts’ expectations of $533.2 million. Product sales are expected to be $26-26.5 billion in 2023, compared with analysts’ expectations of $25.38 billion. Veklury is expected to generate about $2 billion in revenue in 2023, compared with analysts’ expectations of $1.4 billion.

Gilead Sciences’ (NASDAQ:GILD) Q4 2022 revenue of $7.4 billion was higher than market expectations Read Post »

Starbucks (NASDAQ:SBUX) same-store sales up 5% in Q1 2023, analysts expect a 6.79% increase

/ / Consumer Discretionary /

Starbucks (NASDAQ:SBUX) same-store sales grew 5% in the first quarter of 2023, compared with analyst expectations of 6.79%; Net income for the first quarter of 2023 was $8.7 billion, compared to analysts’ expectations of $8.75 billion; North American same-store sales in the first quarter of 2023 increased by 10%, compared with analysts’ expectations of 9.54%; International same-store sales fell 13% in the first quarter of 2023, compared with analysts’ expectations of a 3.87% decline.

Starbucks (NASDAQ:SBUX) same-store sales up 5% in Q1 2023, analysts expect a 6.79% increase Read Post »

Amazon (NASDAQ:AMZN) net sales for Q4 2022 were $149.2 billion, versus analysts’ expectations of $145.8 billion

/ / Consumer Discretionary /

Amazon’s (NASDAQ:AMZN) net sales in the fourth quarter of 2022 were $149.2 billion, compared with analysts’ expectations of $145.8 billion; AWS net sales in the fourth quarter were $21.38 billion, compared with analysts’ expectations of $21.76 billion; net sales in the first quarter were expected to be $121-126 billion, compared with analysts’ expectations of $125.55 billion; fourth-quarter earnings per share were $0.030, compared with analysts’ expectations of $0.169; fourth-quarter operating profit was $2.7 billion, compared with analysts’ expectations of $2.51 billion.

Amazon (NASDAQ:AMZN) net sales for Q4 2022 were $149.2 billion, versus analysts’ expectations of $145.8 billion Read Post »

Google’s parent company Alphabet (NASDAQ:GOOGL) had revenue of $76.05 billion in Q4 2022

/ / Technology /

Google’s parent company Alphabet had revenue of $76.05 billion in the fourth quarter of 2022, compared with analysts’ expectations of $76.51 billion; Google services revenue in the fourth quarter was $67.84 billion, compared with analysts’ expectations of $68.9 billion; Google Cloud revenue in the fourth quarter was $7.32 billion, analysts expected $7.3 billion; fourth-quarter earnings per share were $1.05, analysts expected $1.179; and fourth-quarter net profit was $13.624 billion, analysts expected $15.361 billion.

Google’s parent company Alphabet (NASDAQ:GOOGL) had revenue of $76.05 billion in Q4 2022 Read Post »

Qualcomm Inc.(NASDAQ:QCOM) adjusted revenue for Q1 2023 was $9.46 billion

/ / Technology /

Qualcomm’s (NASDAQ:QCOM) adjusted revenue for the first quarter of 2023 was $9.46 billion, compared to analysts’ expectations of $9.61 billion; first-quarter adjusted earnings per share were $2.37 versus analysts’ expectations of $2.35; second-quarter revenue was expected to be $8.7 billion to $9.5 billion, compared with analysts’ expectations of $9.58 billion; and second-quarter adjusted earnings per share were expected to be $2.05 to $2.25, versus analysts’ expectations of $2.29.

Qualcomm Inc.(NASDAQ:QCOM) adjusted revenue for Q1 2023 was $9.46 billion Read Post »

Piper Sandler: Upgraded Meta Platforms (NASDAQ:META) from neutral to overweight

/ / Technology / ,

Piper Sandler analyst Thomas Champion upgraded Meta Platforms (NASDAQ:META) to overweight from neutral and raised its price target to $215 from $136. The analyst said in the research note that Meta’s spending guidance for fiscal 2023 was significantly lowered, resulting in a “significant increase” in free cash flow forecasts. Analysts believe that despite the difficulties in the advertising market and the fact that the company’s investment in the metaverse space has not compromised, the dramatic change in this quarter’s results justifies the company to receive a more constructive rating.

Piper Sandler: Upgraded Meta Platforms (NASDAQ:META) from neutral to overweight Read Post »

Estée Lauder (NYSE:EL) net sales for Q2 2023 were $4.620 billion, down 17% year-over-year

/ / Consumer Discretionary /

Estée Lauder (NYSE:EL) reported Q2 2023  financial results, with Q2 net sales of $4.620 billion, down 17% year-over-year; Net income attributable to the company was $394 million, down 64% year-over-year. The Estée Lauder Companies Inc. is one of the world’s leading manufacturers, marketers and sellers of quality skin care, makeup, fragrance and hair care products. The Company’s products are sold in approximately 150 countries and territories under brand names including: Estée Lauder, Aramis, Clinique, Lab Series, Origins, M·A·C, La Mer, Bobbi Brown, Aveda, Jo Malone London, Bumble and bumble, Darphin Paris, TOM FORD BEAUTY, Smashbox, AERIN Beauty, Le Labo, Editions de Parfums Frédéric Malle, GLAMGLOW, KILIAN PARIS, Too Faced, Dr.Jart+, and the DECIEM family of brands, including The Ordinary and NIOD.

Estée Lauder (NYSE:EL) net sales for Q2 2023 were $4.620 billion, down 17% year-over-year Read Post »

Meta Platforms (NASDAQ:META) expects investments to drive corporate spending to continue to rise in 2023

/ / Technology /

Meta Platforms (NASDAQ:META) said expected investments in data center capacity, servers, network infrastructure and number of employees will drive the company’s expenses to continue to rise in 2023, which is expected to adversely affect operating margins and profitability.

Meta Platforms (NASDAQ:META) expects investments to drive corporate spending to continue to rise in 2023 Read Post »

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