Earnings Surprises – The News Desk

Lenovo’s Quarterly Profit Falls 54%, But Tops Consensus

16Nov

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Lenovo’s Quarterly Profit Falls 54%, But Tops Consensus

Updated Nov. 16, 2023 12:08 am ETLenovo Group’s net profit fell 54% in its fiscal second quarter due to a high base in the same period last year when market conditions were more favorable.Net profit for the three months ended September was $249 million, the world’s largest PC maker said Thursday, compared with a profit of $541 million a year earlier. However, the result beat analysts’ expectations of $236 million in a FactSet poll.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Infineon Meets Targets After Better-Than-Expected Revenue, Net Profit

15Nov

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Infineon Meets Targets After Better-Than-Expected Revenue, Net Profit

Infineon Technologies met its fiscal 2023 targets and proposed a higher dividend after beating expectations for net profit and revenue in its fourth quarter.The German chip company said on Wednesday that fourth-quarter net profit reached 753 million euros ($819.2 million) compared with EUR735 million in the fourth quarter of last year. Analysts had expected net profit of EUR674.8 million, according to FactSet.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Earnings Estimates Are Falling. These Two Companies Are Shouldering the Blame.

14Nov

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Earnings Estimates Are Falling. These Two Companies Are Shouldering the Blame.

Updated Nov. 14, 2023 4:19 pm ETWall Street has slashed its estimates for corporate profits in the final months of 2023. Yet investors appear to be taking the shifting picture in stride, partly because much of the blame appears to fall on just two companies: Pfizer and Merck. Analysts cut their projections for fourth-quarter earnings at companies in the S&P 500 by 3.9% in October, according to FactSet, more than twice the 10-year average of 1.8%. That marks the deepest reduction during the first month of a quarter in more than three years.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

14Nov

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Money

Earnings Estimates Are Falling. These Two Companies Are Shouldering the Blame.

Updated Nov. 14, 2023 4:19 pm ETWall Street has slashed its estimates for corporate profits in the final months of 2023. Yet investors appear to be taking the shifting picture in stride, partly because much of the blame appears to fall on just two companies: Pfizer and Merck. Analysts cut their projections for fourth-quarter earnings at companies in the S&P 500 by 3.9% in October, according to FactSet, more than twice the 10-year average of 1.8%. That marks the deepest reduction during the first month of a quarter in more than three years.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Vodafone Group Posts Lower Pretax Profit on Previous Business Disposals

14Nov

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Vodafone Group Posts Lower Pretax Profit on Previous Business Disposals

Vodafone Group has reiterated its full-year guidance as it reported a much lower pretax profit for the first half of fiscal 2024, reflecting adverse foreign-exchange rate movements and business disposals in the prior year.The U.K. telecommunications company said Tuesday that it expects to report underlying earnings before interest, taxes, depreciation, amortization and lease expenses of 13.3 billion euros ($14.23 billion) for the year ending March 31 compared with EUR14.7 billion in fiscal 2023. Adjusted free cash is seen at around EUR3.3 billion, from EUR4.84 billion.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

9Nov

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NAB FY Profit Up 7.6%, Raises Dividend

Updated Nov. 8, 2023 7:41 pm ETSYDNEY—National Australia Bank said increased lending and deposits in its business-related divisions helped to drive a 7.6% increase in its annual profit and an almost 8% improvement in its dividend.The bank said net profit for the 12 months through September rose to 7.41 billion Australian dollars (US$4.74 billion). Analysts had expected a full-year net profit of A$7.71 billion, according to FactSet’s consensus estimate.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Enel Raises Guidance After Surge in Profit

7Nov

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Enel Raises Guidance After Surge in Profit

Enel upgraded its guidance for the year after profit more than doubled in the first nine months.The Rome-based energy company on Tuesday reported a net profit of €4.25 billion ($4.56 billion), up from €1.76 billion in the first nine months of last year. On an adjusted basis, net profit—or net ordinary income—climbed 65% to €5.03 billion.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Apollo Bets on Economy’s ‘Debanking’ as Earnings Rise

1Nov

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Apollo Bets on Economy’s ‘Debanking’ as Earnings Rise

Nov. 1, 2023 4:03 pm ET|WSJ ProApollo Global Management continues to benefit from higher management fees and gains from its retirement-services business, as the asset manager swung to profit in the third quarter. The New York firm posted a third-quarter profit of $660 million, or $1.10 a share, compared with a loss of $563 million, or 98 cents a share, a year earlier.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8The go-to source for all things private equity.News, data and analysis to help you find opportunities, and to follow the broad trends in dealmaking, investing and regulation.

28Oct

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Financial Services Roundup: Market Talk

Updated Oct. 27, 2023 6:34 pm ETThe latest Market Talks covering Financial Services. Exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.0942 ET – Swedbank shares underperformed the sector by around 6% when it reported 3Q results Thursday, as net interest income missed consensus expectations and management gave cautious guidance, Berenberg analyst Hugh Moorhead says in a note. While quarterly net interest income may have peaked, the medium-term benefits of higher-for-longer interest rates remain substantial, he adds. Moreover, the bank remains well-provisioned, including against its real estate exposures, and has robust capital buffers. Trading at a 10% premium to the sector, its valuation is undemanding for an expected 17% return on tangible equity over 2023-2025, he add...

Eni Raises Guidance After 3Q Beat Expectations Despite Weaker Prices

27Oct

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Eni Raises Guidance After 3Q Beat Expectations Despite Weaker Prices

Eni raised its full-year operating profit guidance after third-quarter results beat analysts’ expectations, boosted by the exploration and production division.The Italian oil major posted a quarterly profit of 1.92 billion euros ($2.03 billion) from EUR5.86 billion for the previous-year period, when energy prices soared following Russia’s invasion of Ukraine.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8