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Quarterly Loss

All articles tagged with #quarterly loss

business5 months ago

Spotify Surpasses Subscriber Expectations Despite Quarterly Losses and Lowered Forecasts

Spotify exceeded subscriber forecasts with 276 million paying users and 696 million MAUs, but reported a quarterly loss of €86 million due to increased expenses, despite a 10% revenue rise to €4.19 billion. The company faces challenges in its advertising segment and is focusing on growth initiatives, including expanding video content and strategic partnerships, while investor sentiment remains optimistic despite recent stock declines.

via The Hollywood Reporter|
#business#quarterly-loss#revenue-growth
business1 year ago

Rivian Faces Financial Hurdles Amidst Declining Deliveries and Widening Losses

Rivian Automotive reported a significant gross loss of $39,130 per electric vehicle delivered in Q3 2023, with deliveries dropping to 10,018 units, the lowest since Q1 2023. The company attributed the decline to a component shortage, which led to a reduced annual production forecast. Despite this, Rivian reaffirmed its 2024 delivery targets, aiming for 50,500 to 52,000 vehicles, and expects to achieve a gross profit in Q4 2023, easing investor concerns.

via Benzinga|
#business#electric-vehicles#investor-outlook
business1 year ago

"Spirit Airlines Predicts Larger Loss Amid Revenue Shortfall"

Spirit Airlines forecasts a wider-than-expected quarterly loss due to lower-than-anticipated revenue, with an adjusted loss between $160 million and $173 million and sales of $1.28 billion. Shares fell 6% in extended trading. The airline is facing challenges including an oversupplied domestic market, an engine recall, and a blocked acquisition by JetBlue Airways.

via CNBC|
#airline-industry#business#quarterly-loss
business1 year ago

"Kohl's Stock Plummets on Surprise Q1 Loss and Lowered Forecast"

Kohl's shares plummeted by up to 26% after the department store chain reported a surprise quarterly loss and cut its annual sales and profit forecasts due to weaker consumer demand for apparel and footwear. The company cited economic pressures such as high interest rates and inflation affecting middle-income customers, while high-income customers' spending remained steady. Lower clearance sales also contributed to a 4.4% decrease in comparable sales for the first quarter.

via Yahoo Finance|
#business#consumer-demand#economic-factors
business1 year ago

Ford's Strong 2024 Outlook: Sales Growth, Profit Machine, and Cash Returns

Ford Motor reported a $526 million loss in the fourth quarter of 2023 due to charges related to pension plans and overseas operations restructuring, despite a rise in revenue to $46 billion. The company's gasoline and hybrid vehicle division earned $813 million, while the electric vehicle unit incurred a $1.6 billion loss. Ford aims to achieve $10-12 billion in adjusted earnings before taxes and interest in 2024 by investing less in certain areas, setting higher profit goals, and prioritizing projects with credible plans for targeted returns.

via The New York Times|
#business#electric-vehicles#financial-performance
finance1 year ago

"New York Community Bancorp Stock Plummets, Sparking Wider Financial Concerns"

New York Community Bancorp's stock value is set to halve as it continues to slump, with shares plummeting 11% on Tuesday following a surprise quarterly loss. The sell-off has raised concerns about the industry's health, although analysts have noted that the bank's issues are specific to its balance sheet. The capital-building exercise, which led to a 70% dividend cut, was prompted by the bank's need to comply with stricter regulatory requirements after its acquisition of Signature Bank last year. Despite this, at least 13 brokerages have downgraded or lowered their price targets for the bank's stock, and Fitch highlighted concerns about the bank's reduced flexibility and provisions exceeding expectations.

via Yahoo Finance|
#finance#new-york-community-bancorp#quarterly-loss
businesstechnology2 years ago

Western Digital's Q2 Loss and Revenue Decline Impact Stock

Western Digital Corp reported a wider-than-expected quarterly adjusted loss due to the impact of structural changes in its flash and HDD businesses, including underutilization-related charges. The company plans to spin off its flash memory business by the second half of 2024 and expects a current-quarter adjusted profit ranging from a loss of $0.10 to a profit of $0.20 per share.

via Yahoo Finance|
#businesstechnology#data-storage#flash-memory-business
finance2 years ago

"Humana's Stock Plummets on Bleak 2024 Outlook and Soaring Medical Costs"

Humana's stock plummeted after the company reported a widened quarterly loss due to soaring medical costs and slashed its 2024 profit guidance to nearly half of analysts' expectations. The company cited higher Medicare Advantage costs and slower-than-expected enrollment growth as contributing factors. Despite a bleak outlook, some analysts believe the current trends may not persist throughout the year, potentially setting the stage for improved performance in 2025.

via MarketWatch|
#finance#humana#medical-costs
business-aviation2 years ago

"United Airlines' Q1 Loss Forecasted Due to Boeing 737 Max 9 Grounding"

United Airlines forecasts a wider-than-expected loss in the first quarter due to the grounding of Boeing 737 MAX 9 planes, but shares rise on a positive 2024 profit outlook. The company expects an adjusted loss of 35 to 85 cents per share for the quarter, with the grounding impacting non-fuel operating costs. The U.S. aviation regulator grounded MAX 9 jets indefinitely after a safety incident, affecting United and Alaska Airlines. United reported a better-than-expected adjusted profit in the fourth quarter and will provide updates on the safety inspections of the grounded planes in an upcoming call with analysts and investors.

via Yahoo Finance|
#2024-outlook#aircraft-grounding#boeing-737-max-9
finance2 years ago

"Citigroup's 20,000 Job Cuts Amid Steep Quarterly Loss"

Citigroup plans to cut 20,000 jobs by the end of 2026 as part of a restructuring following a steep quarterly loss of $1.8bn, attributed to one-off charges and expenses. The bank aims to reduce its workforce to about 180,000 employees, with the upcoming listing of Banamex also contributing to staffing reductions. Meanwhile, JPMorgan Chase reported its best-ever annual profit despite a 15% drop in fourth-quarter earnings, benefiting from higher interest rates and the acquisition of failed regional banks. JPMorgan's chairman, Jamie Dimon, expressed optimism about the US economy's resilience but cautioned about potential downside risks.

via The Guardian|
#citigroup#finance#job-cuts
finance2 years ago

"Citigroup Faces Quarterly Loss as Charges Soar and Reserves Build"

Citigroup warned investors that charges related to the decline of the Argentine peso and restructuring efforts came in significantly higher than previously disclosed, potentially leading to a $1 per share fourth-quarter loss. CEO Jane Fraser's restructuring aims to make the bank leaner and more profitable, but the increased charges have raised concerns about the bank's credibility with investors. Despite skepticism, banking analyst Mike Mayo recommends Citigroup stock, noting its potential for growth.

via CNBC|
#charges#citigroup#finance
business2 years ago

SoftBank's Vision Fund Reports $6.2 Billion Quarterly Loss Despite Modest Gains

SoftBank reported a $6.2 billion quarterly loss, but its Vision Fund managed to eke out a gain in the fiscal second quarter. The company attributed the loss to a weaker yen and U.S.-dollar denominated liabilities. SoftBank's Vision Fund saw an investment gain of 21.3 billion yen, thanks to the sale of shares in chipmaker Arm. This offset the decline in the value of other invested companies, such as SenseTime. SoftBank's founder, Masayoshi Son, had previously shifted the company into "defense" mode but is now optimistic about the potential of artificial intelligence technology.

via CNBC|
#business#investment-gain#masayoshi-son
business2 years ago

UBS Rebounds Amid Credit Suisse Takeover and Strong Profit Growth

UBS Group reported $22 billion in net new money in its wealth management arm, as it attracted new customers, helping to offset a $785 million quarterly loss incurred from the takeover of Credit Suisse. Credit Suisse also saw money flow into its business for the first time since early 2022. UBS shares rose around 4% as investors reacted positively to the news. However, analysts cautioned that UBS still faces challenges in retaining clients and key staff. The bank is in the early stages of integrating Credit Suisse, which has been plagued by scandals and litigation. UBS has continued to cut staff and warned of an investigation into weaknesses in Credit Suisse's financial reporting.

via Reuters|
#business#credit-suisse#merger