Tencent profits plunge as Chinese tech giant grapples with Covid lockdowns, regulation

Signs for Tencent Holdings on top of an office building in Shanghai, China, on March 22, 2022. China’s Tencent reported on Wednesday that its quarterly earnings were halved from a year ago and revenues stagnated, due to cuts in advertising, e-commerce and e-commerce spending. travel companies for their worst performance since it was announced in … Read more

Cisco stock plunges as company forecasts surprising revenue decline

The Cisco stock fell as much as 17% in expanded trading on Wednesday after the network company said it generated lower quarterly revenue than analysts predicted and called for an unexpected decline in sales during the current period. Here’s what the company did: Earnings: 87 cents per share, adjusted, against 86 cents per share as … Read more

Bath & Body Works shares fall as retailer cuts profit outlook due to inflation

Sales signs inside the Bath and Body Works store in Edmonton. Thursday, January 6, 2022 in Edmonton, Alberta, Canada. Artur Widak | Nurphoto | Getty pictures The Bath & Body Works share fell after trading on Wednesday after the retailer lowered its profit outlook for the year, partly due to expected increases in inflationary pressures. … Read more

Target shares sink more than 20% after company says high costs, inventory woes hit profits

On Wednesday, Target reported quarterly gains that fell far short of Wall Street’s expectations, as the retailer managed expensive shipping costs, higher reductions and lower-than-expected sales of discretionary items from TVs to bicycles. The share fell by about 22% in pre-market trading. This is what Target reported for the first quarter of the fiscal year … Read more

Lowe’s sales miss expectations as cool spring weather weighs on demand for outdoor products

A customer pushes a shopping cart toward the entrance to a Lowe’s store in Concord, California, on Tuesday, February 23, 2021. David Paul Morris | Bloomberg | Getty pictures On Wednesday, Lowe’s missed Wall Street’s sales expectations for the first quarter, as cooler spring weather hurt demand for do-it-yourself outdoor projects. Shares fell about 1% … Read more

Shares of Shopee-owner Sea surge 14% after stronger-than-expected revenue

Shares in Southeast Asia’s e-commerce and gaming company Sea Group rose after its first-quarter earnings beat analysts’ expectations on Tuesday. Seas ‘US-listed shares rose 14% to close at $ 80.21 after the Singapore-based internet company reported revenue that exceeded analysts’ expectations in the first quarter of this year. This is what the New York listed … Read more

Chinese e-commerce giant JD beats estimates despite slowest quarterly revenue growth on record; shares pop 8%

The Chinese e-commerce giant JD.com reported its slowest quarterly revenue growth ever during the first three months of the year, when the Covid-19 locks in the world’s second largest economy weighed on consumers’ spending. JD.com beat revenue estimates but missed earnings expectations. This is what JD did in the first quarter of 2022, compared to … Read more

Walmart will report earnings before the bell. Here’s what to expect

Workers move shopping carts outside a Walmart store in Lakewood, California, USA, on Sunday, May 15, 2022. Bing Guan | Bloomberg | Getty pictures Walmart will report revenue on Tuesday before the clock, as investors and economists look for clues as to how US consumers are enduring inflation – and whether they have begun to … Read more

Home Depot raises full-year outlook after earnings beat, record first-quarter sales

Home Depot raised its full-year outlook on Tuesday after reporting a strong quarterly result, fueled by the company’s strongest sales in the first quarter ever. The company’s shares rose by 4% in pre-market trading. Here’s what Home Depot reported compared to what Wall Street expected, based on a survey by Refinitiv analysts: Earnings per share: … Read more

Beyond Meat shares tumble after jerky launch leads to wider-than-expected loss

Beyond Meat reported a larger-than-expected loss on Wednesday for its first quarter as the launch of its new herbal jerky weighed heavily on margins. The shares in the company fell as much as 25% in increased trading, which increased the share’s losses from earlier in the day. Beyond’s share closed down 13.8% on Wednesday before … Read more