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Fourth Quarter Profit

All articles tagged with #fourth quarter profit

energy-industry1 year ago

"Devon Energy's Q4 Profit Declines Due to Winter Storm, Beats Estimates"

Devon Energy reported a decrease in fourth-quarter profit due to lower oil and gas prices and projected a 2% production impact in the first quarter as a result of severe winter weather. The company's average realized price without hedges fell, and it reaffirmed its 2024 production forecast while expecting first-quarter production to be down 2%. Despite the challenges, Devon Energy raised its fixed quarterly dividend by 10%.

via Yahoo Finance|
#devon-energy#energy-industry#fourth-quarter-profit
finance1 year ago

"Shake Shack Soars on Strong Q4 Earnings and 2024 Outlook"

Shake Shack's stock surged 20% after the burger chain reported strong fourth-quarter earnings, with a net income of $6.8 million and earnings per share of 2 cents, beating expectations. The company also saw a 20% increase in revenue year-over-year and plans to grow total revenue by 11% to 15% in 2024, with the opening of 80 new restaurants. CEO Randy Garutti expressed optimism for the year ahead, citing positive traffic and continued margin expansion.

via CNBC|
#finance#fourth-quarter-profit#restaurant-expansion
finance2 years ago

"Wells Fargo's Fourth-Quarter Profit Soars on Cost Cuts and Interest Rates"

Wells Fargo's fourth-quarter profit rose, with revenue reaching $20.48 billion, slightly exceeding expectations. However, the bank warned of a potential significant decrease in net interest income for 2024. The increase in profit was attributed to higher interest rates and cost-cutting measures, but was offset by charges from an FDIC special assessment and severance expenses. The bank also reported a decline in net interest income and an increase in provisions for credit losses. CEO Charlie Scharf expressed confidence in the bank's future performance, despite sensitivity to interest rates and the U.S. economy.

via CNBC|
#cost-cutting#finance#fourth-quarter-profit
businesstechnology2 years ago

Samsung Expects 35% Plunge in Fourth-Quarter Profit

Samsung Electronics expects a 35% drop in fourth-quarter operating profit, falling short of expectations due to a rebound in semiconductor prices. The company anticipates an operating profit of 2.8 trillion South Korean won, down from 4.31 trillion won a year ago, with revenue likely falling 4.9% to 67 trillion won. The demand for AI is expected to drive a recovery in the semiconductor market in 2024, with memory chip prices already starting to increase due to supply control.

via CNBC|
#businesstechnology#fourth-quarter-profit#market-recovery