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Profit Estimates

All articles tagged with #profit estimates

finance2 years ago

Capital One Surpasses Profit Expectations with Strong Interest Income Growth

Capital One Financial exceeded profit estimates for the third quarter due to higher interest rates on loans, resulting in a 6% increase in interest income. The rise in borrowing costs by the U.S. Federal Reserve has boosted profits for lenders, although higher deposit costs led to a contraction in net interest margin. Capital One reported adjusted earnings of $4.45 per share, surpassing analysts' expectations of $3.25 per share.

via Yahoo Finance|
#borrowing-costs#capital-one#finance
business2 years ago

American Airlines faces mixed results with profit estimates and earnings outlook cuts

American Airlines reported better-than-expected adjusted profit for the third quarter and noted strong holiday bookings, driven by robust travel demand. The company's shares rose in premarket trading. However, American Airlines lowered its forecast for the year due to higher expenses, including increased jet fuel prices and costly contracts to retain workers. The carrier expects its fourth-quarter total revenue per available seat mile to decline compared to the previous year.

via Yahoo Finance|
#american-airlines#business#expenses
finance2 years ago

Morgan Stanley's 3Q 2023 Earnings: Wall Street's Expectations and Sustainability Focus

Morgan Stanley reported third-quarter results that exceeded profit estimates due to better-than-expected trading revenue. Despite a 9% decline in profit from the previous year, the bank's revenue grew by 2% and matched expectations. While some of its competitors faced challenges, Morgan Stanley has managed to avoid turbulence. CEO James Gorman announced plans to resign within a year, and the board is currently narrowing down the search for his successor. Analysts are eager for updates on the CEO succession process. Other major banks, including JPMorgan Chase, Wells Fargo, Citigroup, Goldman Sachs, and Bank of America, also surpassed profit expectations in the third quarter.

via CNBC|
#ceo-succession#earnings#finance
business2 years ago

Delta Air Lines Cuts Profit Forecast Amid Rising Costs

Delta Air Lines has joined other airlines in reducing its profit estimates due to rising costs. The company expects adjusted per-share earnings of $1.85 to $2.05, down from the previous forecast of $2.20 to $2.50, citing increased fuel and maintenance expenses. Delta also projects a 2% to 3% decline in unit revenue for the third quarter compared to last year. This comes as the airline industry faces higher expenses and lower travel demand. Other carriers, including American Airlines, Spirit Airlines, Frontier Airlines, Southwest Airlines, and Alaska Airlines, have also issued lowered profit outlooks. Delta shares rose over 2% in premarket trading.

via CNBC|
#airline-industry#business#delta-air-lines