(Reuters) -Chipmaker Marvell Technology missed Wall Street expectations for first-quarter revenue on Thursday, hurt by weak client spending in its wireless carrier and enterprise markets. The company reported revenue of $1.16 billion, compared with estimates of $1.17 billion, according to LSEG data. Shares of the Santa Clara, California-based company fell around 2% in extended trading. […]
(Reuters) – Dell Technologies beat Wall Street estimates for first-quarter revenue on Thursday, ending a streak of six-quarters of decline, helped by growing demand for its AI-powered servers. A surge in demand for high-performance computing and large-scale data centers to support growing adoption of generative AI has spurred investments in AI-capable products, triggering demand for […]
Nvidia CEO Jensen Huang.Sam Yeh/AFP/Getty Images Nvidia is set to report its first-quarter earnings results after the market close on Wednesday. Wall Street expects more sales of Nvidia’s AI chip before its next-gen Blackwell release. Here’s what Wall Street is eyeing ahead of the chipmaker’s quarterly earnings report. Nvidia has a lot to prove when […]
(Reuters) -GameStop expects first-quarter net sales to drop from a year ago, as customers transition to buying video games and collectibles online, while the retailer largely relies on brick and mortar stores. Shares of the company fell 10% in premarket trading on Friday, as it also filed for a mixed-shelf offering of an unspecified size. […]
Southeast Asia’s largest economy expanded 5.11 percent in the first quarter this year (ADEK BERRY) Indonesia’s economic growth accelerated in the first quarter of 2024 on the back of election and religious holiday spending, official data showed Monday. Southeast Asia’s largest economy expanded 5.11 percent, Statistics Indonesia said, the highest level for three quarters and slightly higher […]
Coinbase Global (COIN) posted its second consecutive quarterly profit as crypto trading surged during the first three months of 2024. Yet the stock of the largest US cryptocurrency exchange fell by as much as 4% in after-hours trading Thursday. The stock is up more than 31% since the beginning of the year but 38% below […]
Troubled regional lender New York Community Bancorp (NYCB) lost $327 million in the first quarter, but its stock soared in premarket trading as a new CEO outlined a “clear path to profitability over the following two years.” The net loss was due in part to an increase in provisions set aside for future loan losses. […]
(Reuters) -New York Community Bancorp reported a loss for the first quarter on Wednesday, as the commercial real estate-focused lender set aside more funds to cover possible defaults. The bank’s exposure to rent-regulated multi-family properties and office buildings in New York has increased fears of borrowers defaulting on their loans, prompting it to set aside […]
Hertz is hurting. The company was expecting a challenging first quarter, but it got more than it bargained for: It reported a $392 million adjusted net loss on Thursday. Despite increases in rental car demand, Hertz said it’s been bruised by its fleet of electric vehicles—made up primarily of Teslas—that are unreliable and more costly […]
(Bloomberg) — Exxon Mobil Corp. and Chevron Corp. declined after disappointing first-quarter performances despite posting strong production gains in marquee oil projects in Guyana and the Permian Basin. Most Read from Bloomberg Exxon dropped as much as 3.2% in pre-market trading and Chevron was down 1.5% on Friday even as crude prices rose. Exxon posted […]
By Sheila Dang (Reuters) – Snap beat Wall Street’s expectations for quarterly revenue and user growth on Thursday, as improvements to its advertising system delivered results faster than anticipated, sending its shares up 21% in after-market trading. The owner of photo messaging app Snapchat has been working over the past year to improve how it […]
Tesla’s first-quarter net income plummeted 55% as falling global sales and price cuts sliced into the electric vehicle maker’s revenue and profit margins. The Austin, Texas, company said it made 1.13 billion dollars (£0.91 billion) from January through to March compared with 2.51 billion dollars (£2.02 billion) in the same period a year ago. Revenue […]