Breaking News
Feb 14, 2024
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Airbnb declined 6.2% to $141.43 despite the online booking platform reporting better-than-expected quarterly results.
Revenue in the quarter surged after the company attracted more first-time customers and expanded beyond its core markets in Europe, South America, and Asia.
Gross booking value in the quarter increased 15% to $15.5 billion, and nights and experiences booked 12% to 98.8 million in the fourth quarter.
Revenue in the fourth quarter rose 17% to $2.2 billion, net income swung to a loss of $349 million from a profit of $319 million, and diluted earnings per share were a loss of 55 cents compared to a profit of 48 cents a year ago.
Active listings at the end of the fourth quarter increased by 1.2 million to 7 million around the world.
Gross booking value in 2023 soared 16% from a year ago to $73.3 billion, and nights and experiences booked jumped 14% to 448.2 million. -
The Coca-Cola Company gained 1.1% to $60.40 after the beverage maker reported mixed quarterly results in the fourth quarter.
Revenue in the quarter rose 7% to $10.85 billion from $10.1 billion after the company passed on higher prices to customers and bottlers; net income declined 3% to $1.98 billion from $2.03 billion; and diluted earnings per share fell to 46 cents from 47 cents a year ago.
Unit case volume increased by 2% in the quarter, and organic revenue rose by 12%, largely driven by double-digit price increases in Europe and the Middle East, Latin America, and Asia Pacific. -
Zoominfo Technologies increased 16% to $18.40 after the market intelligence company reported better-than-expected quarterly results.
Revenue in the December quarter increased to $316.4 million from $301.7 million, net income swung to a loss of $5.5 million from a profit of $23.2 million, and diluted earnings per share were a loss of 1 cent compared to a profit of 8 cents a year ago.
During the year 2023, the company repurchased 22.6 million shares at an average price of $17.68 for an aggregate of $400.1 million.
The company guided fiscal first quarter 2024 revenue between $307 million and $310 million and full-year revenue between $1.26 billion and $1.28 billion. -
Hasbro declined 5.8% to $48.30 after the toymaker reported sharply lower-than-expected earnings in the fourth quarter.
Revenue in the fourth quarter declined 23% to $1.29 billion from $1.7 billion, net loss soared to $1.06 billion from $128 million, and diluted loss per share expanded to $7.64 from 93 cents a year ago.
Revenue in the fourth quarter declined 23% after the growth in the Wizards of the Coast and Digital Gaming segments of 7%, which was more than offset by declines of 25% in the consumer products segment and a 49% plunge in the entertainment segment.
Operating loss of $1,912 million compared to an operating profit of $23 million in 2022. 2023 loss includes $1,846 million (non-cash) of goodwill and intangible asset impairment associated with the eOne Film and TV business and within Family Brands to align with a change in entertainment strategy. -
Restaurant Brands International was nearly unchanged at $78.30 after the parent company of Tim Hortons reported better-than-expected quarterly results.
Revenue in the fourth quarter increased to $1.8 billion from $1.69 billion, net income advanced to $508 million from $229 million, and diluted earnings per share rose to $1.60 from 74 cents a year ago.
Systemwide sales across all restaurant brands rose 9.6%, slower than 11.4% in the quarter a year ago.
Consolidated comparable store sales increased 5.8%, including a 4.6% rise at international locations.
Comparable sales at Tim Hortons coffee chain rose 8.4%, Burger King increased 6.3%, Popeyes Louisiana Kitchen advanced 5.5%, and Firehouse Subs increased 3.5%. -
Consumer price inflation in January eased to a 3.1% annual pace in January from 3.4% in December, the U.S. Bureau of Labor Statistics reported Thursday.
The decline in overall inflation was driven by the fall in energy price inflation by 4.6% from 2.0% in December, and food prices rose at a slower pace of 2.6% compared to 2.7% in the previous month.
Compared to the previous month, consumer price inflation rose by 0.3%, the fastest pace of increase in four months.
Core inflation, which excludes food and energy price inflation, held steady at an annual pace of 3.9% but rose to a monthly rate of 0.4%. -
Cloudflare jumped 25.3% to $113.50 after the cyber security online content distribution network company reported quarterly results and estimates that surpassed market expectations.
Total revenue increased 33% to $362.4 million from $274.7 million, net loss shrank to $27.9 million from $45.9 million, and diluted loss per share dropped to 8 cents from 14 cents a year ago.
The company won larger deals from existing and new customers, driving its annual contact value to record highs. -
Ingles Markets declined 4.2% to $78.38 after the discount grocery store operator reported a slight decline in quarterly sales and a sharp decline in earnings.
Revenue in the fiscal first quarter ending on December 30 declined 0.8% to $1.48 billion from $1.49 billion in the quarter ending on December 24, 2023; net income dropped to $43.4 million from $69.4 million; and diluted earnings per share fell to $2.28 from $3.65 a year ago. -
PepsiCo decreased 1% to $172.20 after the food and beverage maker reported mixed quarterly results and said food and beverage volumes declined in its North American unit.
Net revenue in the fourth quarter declined 0.5% to $27.85 billion from $27.99 billion, net income advanced to $1.3 billion from $518 million, and diluted earnings per share rose to 94 cents from 37 cents a year ago.
Volumes in the fourth quarter in its beverage unit declined 6%, Quaker Foods fell 8%, and Frito-Lay eased 2%.
PepsiCo hiked its quarterly dividend by 10% to $1.265 per share, payable to shareholders of record on March 1 and on April 1.
PepsiCo has paid consecutive quarterly dividends since 1965, and 2023 marked the 51st consecutive annual dividend increase.
In 2024, the company plans to return $8.2 billion to shareholders, comprised of $7.2 billion in dividends and $1.0 billion in stock repurchases.
The beverage and food maker also estimated that organic revenue in 2024 will increase by 4%, with at least an 8% increase in constant currency earnings per share.
Based on the company's assumptions and guidance, core earnings per share in 2024 are estimated to increase by 7% to $8.15 from $7.62 a year ago. -
Ralph Lauren increased 1.8% to $175.01 after the fashion apparel and accessories maker reported better-than-expected quarterly results.
Revenue in the fiscal third quarter ending in December increased 6% to $1.9 billion from $1.8 billion, net income advanced to $276.6 million from $216.5 million, and diluted earnings per share rose to $4.19 from $3.20 a year ago.
Inventories at the end of the third quarter declined 15% to $1.1 billion, with the planned decline in North America and Europe offsetting the slight increase in Asia to support growth initiatives.
Sales struggled in North America, rebounded in Europe after the lapping of wholesale discounts offered last year, and surged in Asia.
North American sales were flat at $993 million, and comparable store sales at retail outlets increased by 5%, driven by a 6% increase in physical store sales and a 4% rise in online sales.
Revenue in Europe surged 11% to $522 million, driven by 11% in comparable store sales after physical stores rose 11% and online sales advanced 12%.
Revenue in Asia increased 16% to $446 million, driven by a 14% advance in comparable store sales, a 13% rise in physical store sales, and a 25% surge in online sales.
The company reiterated its full-year fiscal 2024 outlook of low-single-digit revenue growth and returned $425 million to shareholders through dividends and stock repurchases in the fiscal year to date.
Feb 13, 2024
Feb 10, 2024