Breaking News
Apr 19, 2023
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Intuitive Surgical Inc said revenue in the first quarter increased 14% to $1.7 billion from $1.5 billion and worldwide da Vinci procedures rose 26% from a year ago.
Net income declined to $355.3 million from $365.6 million and diluted earnings per share was unchanged at $1.0.
The company installed 312 da Vinci surgical systems in the first quarter compared to 311 in the period a year ago, increasing its installed base 12% to 7,779 from 6,920 at the end of the first quarter of 2022. -
Western Alliance Bancorporation soared 25% to $40.59 after the regional bank reported earnings ahead of expectations and deposits stabilized.
Net interest income rose 35.7% to $609.9 million but net income plunged 40.8% to $142.2 million from $240.1 million and diluted earnings per share declined to $1.28 from $2.22 a year ago.
Total deposits declined 8.8% to $47.6 billion from $52.1 billion, total assets rose 17.3% to $71 billion and loans held-for-investment increased 12.9% to $46.3 billion.
Since March 31, deposits have increased an additional $2.0 billion through April 14, with total insured deposits representing 73% of total deposits, which is "well above industry norms compared to the 50 largest U.S. banks," said the company. -
Charles Schwab Corporation, the online stock broker and financial services provider, reported better-than-expected earnings in its latest quarter.
Revenue in the first quarter increased 10% to $5.1 billion and net income rose 14% to $1.6 billion from $1.4 billion and diluted earnings per share advanced to 83 cents from 67 cents a year ago.
Schwab attracted net new one million accounts with core net new assets of $132 billion in the quarter, including $51 billion in March. -
Bank of America Corp reported better-than-expected revenue and earnings in the first quarter, reflecting a jump in net interest rate margin.
Total revenue, net of interest expense, in the first quarter increased 13% to $26.3 billion and net income increased to $7.6 billion from $6.6 billion and diluted earnings per share increased to 94 cents from 85 cents a year ago.
Client balances declined 2% from a year ago to $1.6 trillion but rose 2% from the fourth quarter and the bank increased its provision for loan losses to $931 million from $30 million a year ago largely driven by credit card balances. -
Goldman Sachs Group Inc reported lower-than-expected revenue and took a charge of $470 million related to the sale of its consumer loans business Marcus.
Revenue in the first quarter ending in March decreased 5% to $12.2 billion from $12.9 billion. Investment banking fees declined 26% to $1.6 billion, bonds, currencies and commodities business dropped 17% to $3.9 billion and equities segment revenue decreased 7% to $3.0 billion.
Asset and wealth management revenue rose 24% to $3.2 billion and platform solutions revenue soared 110% to $564 million.
Net income applicable to common stockholders fell 19% to $3.1 billion from $3.8 billion and diluted earnings per share fell to $8.79 from $10.76 a year ago. Provision for credit losses was a net gain of $171 million for the first quarter, compared with net provisions of $561 million for the first quarter of 2022 and $972 million for the fourth quarter of 2022. -
Lockheed Martin Corp, the aerospace company and defense contractor, reaffirmed its full-year outlook and posted better-than-expected quarterly results.
Net sales in the first quarter increased to $15.1 billion from $15.0 billion and net income was flat at $1.7 billion and diluted earnings per share rose to $6.61 from $6.44 a year ago.
The company paid $784 million in dividends and $500 million of its own shares in the first quarter. -
Johnson & Johnson the pharmaceuticals and consumer products maker, said first quarter revenue increased 5.6% to $24.75 billion.
The company swung to a net loss of $68 million from a profit of $5.2 billion and diluted earnings per share swung to ($0.03) from $1.93 a year ago.
Adjusted earnings, which excludes special items and amortization expenses, fell 0.9% to $7.06 billion from $7.2 billion and adjusted diluted earnings per share inched up to $2.68 from $2.67 a year ago. -
State Street Corp, the financial index manger, reported weaker-than-expected revenue and earnings.
Revenue in the first quarter ending in March 2023 increased 1% to $3.1 billion and net income declined 9% to $549 million from $604 million and diluted earnings per share fell to $1.52 from $1.57 a year ago.
Assets under management declined 10% to $3.6 billion from $4.02 billion a year ago, reflecting lower quarter-end market levels and net outflows.
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PNC Financial Services Group, Inc said total revenue in the first quarter increased 19% to $5.6 billion and net income rose to $1.7 billion from $1.4 billion and diluted earnings per share increased to $3.98 from $3.23 a year ago.
Net interest rate margin in the first quarter decreased to 2.82% from 2.92% in the fourth quarter of 2022 but rose from 2.28% in the quarter a year ago. Average deposits in the quarter dropped to $436.2 billion from $453.3 billion but average loans increased to $325. 5 billion from $290.7 billion a year ago.
Provision for credit losses in the first quarter of 2023 declined to $235 million from $408 million in the fourth quarter 2022. -
BlackRock Inc said revenue in the first quarter declined 10% to $4.2 billion and net income dropped 19% to $1.2 billion from $1.14 billion and diluted earnings per share fell to $7.64 from $9.35 a year ago.
Average assets under management decreased 8% to $8.9 trillion from $9.6 trillion and total net assets inflow in the quarter increased to $110.3 billion from $86.4 billion a year ago.
In the quarter, the company repurchased $375 million of its own stock and increased dividend by 2.5% to $5.0 a share.
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