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Third Quarter Results

All articles tagged with #third quarter results

business1 year ago

Macy's Uncovers $154M Expense Fraud, Delays Earnings Report

Macy's has postponed its third-quarter results release after discovering an employee concealed $132 million to $154 million in delivery expenses through erroneous accounting entries since late 2021. The company has initiated an independent investigation and stated that the employee is no longer with the company. Preliminary results showed a slight decline in sales to $4.74 billion, leading to a 3% drop in Macy's shares in pre-market trading.

via Financial Times|
#accounting-scandal#business#delivery-expenses
business1 year ago

"Nintendo Anticipates 13% Rise in Third-Quarter Net Profit and Emphasizes Switch as Main Business"

Nintendo is expected to announce a 13% rise in third-quarter net profit to 130.37 billion yen, with investors focusing on improvements in operating-profit margins, potential changes to annual sales and earnings forecasts, and the pace of growth in intellectual property revenue. The company has projected sales of 185.0 million copies of Switch software and 15.0 million Switch consoles for the fiscal year ending March, with fiscal-year revenue expected to decrease 1.4% and net profit to decline 3.0%.

via My Nintendo News|
#business#net-profit#nintendo
financial-results2 years ago

Brookfield Corporation's Impressive Q3 Performance

Brookfield Corporation reported strong financial results for the third quarter of 2023, with distributable earnings of $1.1 billion for the quarter and $4.2 billion over the last twelve months. The company's asset management business saw fee-related earnings increase by 13%, while its insurance solutions business delivered earnings growth driven by strong investment performance. Brookfield's operating businesses generated stable cash flows, with growth in same-store net operating income in its real estate business. The company ended the quarter with nearly $120 billion of capital available for new investments.

via Brookfield|
#asset-management#brookfield-corporation#distributable-earnings
business2 years ago

Boeing's Delivery Forecast and Earnings Take a Hit

Boeing announced that it will deliver fewer 737 Max aircraft this year due to production flaws, revising its estimate to between 375 and 400 planes, down from the previous range of 400 to 450. The company reported a wider-than-expected adjusted loss for the third quarter, with a net loss of nearly $1.64 billion. Despite the challenges, Boeing's CEO expressed confidence in the company's ability to address the issues and maintain its expectations for future cash flow.

via CNBC|
#737-max#aircraft-production#boeing
finance2 years ago

"Strong Earnings Propel US Stocks and Dow Jones Giants to Rebound"

US stocks advanced as a wave of strong corporate earnings and positive forecasts boosted investor confidence, leading to a broad market rally. Benchmark Treasury yields remained steady, supporting interest rate-sensitive megacap stocks. Companies such as Verizon, General Electric, Coca-Cola, 3M, and RTX beat Q3 estimates, driving their stock prices higher. The S&P 500 is expected to see a robust acceleration in third-quarter GDP, while analysts anticipate further evidence of cooling inflation in the upcoming Personal Consumption Expenditures report. High-profile companies like Alphabet, Microsoft, and Ford are set to report their Q3 results after the bell.

via Reuters|
#corporate-earnings#finance#investor-risk-appetite