All articles tagged with #operating loss
Originally Published 2 months ago — by Axios
Harvard University experienced its largest operating loss in 14 years, totaling nearly $113 million, due to federal funding cuts and increased costs, despite record donations and a strong endowment return. The university is negotiating with the White House over funding disputes.
Originally Published 1 year ago — by Yahoo Finance
Intel's SEC filing revealed a $7 billion operating loss in 2023 for its foundry business, separate from its product business, raising concerns about its ability to find external customers and weather increased competition in the AI-chip space. Analysts are skeptical about Intel's timeline for reaching benchmark goals and the company's ability to achieve operating margin break even until 2027, indicating a potentially slower ramp than anticipated.
Originally Published 1 year ago — by CNBC
Intel revealed a $7 billion operating loss in its foundry business for 2023, wider than the previous year, causing a 4% drop in its shares. The company, historically involved in both chip design and manufacturing, plans to expand its foundry business to produce chips for other companies. Intel expects the foundry's losses to peak in 2024 and aims to break even by the end of 2030, with $15 billion in foundry revenue already booked. CEO Patrick Gelsinger emphasized the potential for considerable earnings growth from the foundry business, attributing the lack of profitability to past decisions and slow adoption of advanced chip-making technology.
Originally Published 1 year ago — by Billboard
Sphere, the new music venue in Las Vegas, reported an operating loss of $193.9 million on revenue of $167.8 million in its first full quarter of operation, with nearly half of its revenue coming from performances and concerts. Despite the losses, the venue has a full calendar for 2024, including upcoming runs by Phish and Dead & Company. The company is also exploring international expansion and saw its shares rise after the earnings announcement.
Originally Published 2 years ago — by The Wall Street Journal
The Federal Reserve reported its largest-ever annual operating loss of $114.3 billion, attributed to its aggressive support for the economy in 2020 and 2021, followed by a rise in interest rates to combat high inflation. These losses contribute to federal deficits, leading to larger Treasury debt auctions. The central bank's losses may persist as long as short-term interest rates remain at current levels, potentially sparking political criticism.
Originally Published 2 years ago — by The New York Times
Red Lobster's popular "Ultimate Endless Shrimp" promotion, which offers all-you-can-eat shrimp for a fixed price, contributed to an $11 million operating loss in the third quarter. The promotion, aimed at boosting business during a slow season, attracted more customers than expected, leading to a drop in profits. Red Lobster raised the price of the deal from $20 to $25 in an attempt to mitigate the losses. Despite the setback, the company plans to keep the promotion on the menu but will be more cautious about pricing and customer demand.
Originally Published 2 years ago — by Yahoo Finance
The Federal Reserve is projected to need nearly four more years to recover from a historic operating loss caused by its rate rise cycle and balance sheet reduction, according to research from the Federal Reserve Bank of St. Louis. The losses, which began in September 2022, are recorded as a deferred asset and must be covered before the Fed can return excess earnings to the Treasury. The St. Louis Fed estimates that the deferred asset will be covered by mid-2027. Uncertainty over monetary policy complicates estimating the ultimate size of the loss and when the Fed will start returning money to the Treasury.
Originally Published 2 years ago — by New York Post
Adidas has raised its revenue forecast and reduced its expected loss for 2023, attributing the positive outlook to strong sales of Yeezy shoes and improved performance in its core business. The company now expects an operating loss of around €100 million ($106 million) for 2023, down from the previously projected €450 million. Excluding the cost of ending the Yeezy shoe range produced in partnership with Kanye West, Adidas anticipates an underlying operating profit of €100 million. The most recent Yeezy drops generated a profit of €150 million ($158.5 million), with Adidas planning to make additional charitable donations from the proceeds.