Shares of
surged 21% and were on track to set a record high after the parent company of Facebook and Instagram issued a better-than-expected revenue forecast for the first quarter and declared its first-ever dividend, of 50 cents a share. The company also said it was authorized to boost its buyback program by $50 billion.
Meta
’s
fourth-quarter adjusted earnings of $5.33 a share beat consensus estimates of $4.82. Meta said fourth-quarter revenue jumped 25% to $40.11 billion; advertising revenue made up $38.71 billion of the total.
rose 7.3% after the e-commerce and cloud computing company posted better-than-expected fourth-quarter profit and sales, driven by strength in its core e-commerce business and continued growth in ad revenue. The company’s
Web Services saw revenue jump 13% in the quarter to $24.2 billion, which was in line with Wall Street estimates. For the first quarter, Amazon said it sees revenue of $138 billion to $143.5 billion, up 8% to 13%, with operating income of between $8 billion as $12 billion. Wall Street had been calling for revenue of $142.3 billion and operating income of $8.8 billion.
declined 0.6% after the company reported fiscal first-quarter earnings that topped Wall Street estimates, with strength in iPhones, but lower-than-expected growth in services.
also reported a decline in its China business, where it is seeing new competition in the smartphone market from
and others. Greater China sales were $20.8 billion, down 13% from a year earlier.
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reported fourth-quarter adjusted earnings of $3.45 a share, beating analysts’ estimates of $3.19. Revenue fell to $47.2 billion from $56.5 billion a year earlier and missed forecasts.
raised its quarterly dividend by 8% to $1.63 a share. The stock rose 3.1%.
‘s fourth-quarter adjusted earnings of $2.48 a share beat analysts’ estimates of $2.20. Exxon reported revenue in the period of $84.34 billion, missing expectations of $90.03 billion. The stock rose 0.5%.
was falling 19% after the security software company cut its fiscal-year outlook following a decline in fiscal third-quarter profit.
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posted fiscal third-quarter earnings of $15.11 a share, beating estimates of $11.48, and announced that Chief Executive and President Dave Powers would be leaving the maker of Hoka and Ugg shoes and would be replaced by Stefano Caroti, the company’s chief commercial officer. Shares rose 14%.
Sneakers maker
was down 7.3% after reporting weaker-than-expected fourth-quarter sales and issuing a forecast for first-quarter earnings that was below analysts’ estimates.
declined 15% after the company lost 61,000 internet customers in the fourth quarter, with most of the declines coming from residential customers. Analysts expected an increase of 6,000 internet customers. Charter reported fourth-quarter earnings of $7.07 a share while analysts expected $8.76.
reported second-quarter adjusted earnings of 73 cents a share, topping Wall Street estimates, and a revenue increase of 21% to $1.06 billion. The software company’s guidance also was above expectations but the stock was falling 12%.
Fiscal second-quarter revenue at
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topped forecasts and the cleaning-products maker raised its fiscal 2024 adjusted earnings outlook to $5.30 to $5.50 a share, up from previous guidance of between $4.30 and $4.80 a share. The stock jumped 4.7%.
is delaying the construction timetable for its $20 billion chip-manufacturing project in Ohio, The Wall Street Journal reported. Intel had planned to begin making chips at the plant next year but it’s likely the plant won’t be completed until late 2026, the Journal said. Chip-making could begin after that. A company spokesman confirmed the report, telling the Journal that “decisions are based on business conditions, market dynamics and being responsible stewards of capital.” The stock fell 2.5%.
Write to Joe Woelfel at joseph.woelfel@barrons.com
