U.S. Movers: Amazon.com, Apple, Carnival, Exxon Mobil, Intel

Scott Peters
01 Nov, 2024
New York City

Amazon.com Inc. increased 7% to $199.22 after the online store and services provider reported higher earnings and revenue, driven by a 19% increase in sales for its cloud services. 

Net sales in the third quarter increased 11% to $158.9 billion from $143.1 billion, net income advanced to $15.3 billion from $9.9 billion, and diluted earnings per share rose to $.43 from 94 cents a year ago. 

North America segment sales increased 9% to $95.5 billion, international segment sales increased 12% to $35.9 billion, and AWS segment sales increased 19% to $27.5 billion, from a year ago, respectively.   

The company estimated fourth quarter sales between $181.5 billion and $188.5 billion, an increase between 7% and 11% from a year ago. 

Operating income is estimated to range between $16.0 billion and $20.0 billion, an increase from $13.2 billion a year ago.  

Apple Inc. decreased 1.8% to $221.85 after the computing device maker reported sales and earnings that surpassed market expectations. Net income declined after the company paid a one-time charge linked to a tax levy imposed by the European Union's agency. 

Revenue in the fiscal fourth quarter ending in September increased 6% to $94.9 billion from $89.5 billion, net income fell to $14.7 billion from $22.95 billion, and diluted earnings per share dropped to 97 cents from $1.46 a year ago. 

Net sales in Americas increased to $41.7 billion from $40.1 billion, in Europe jumped to $24.9 billion from $22.4 billion, and in Greater China edged down to $15.03 billion from $15.08 billion, a year ago, respectively. 

iPhone sales surged to $46.2 billion from $43.8 billion, Mac sales rose to $7.6 billion from $7.6 billion, and services revenue increased to $24.9 billion from $22.3 billion a year ago, respectively. 

Exxon Mobil Corp. advanced 2.2% to $119.29 after the oil company reported better-than-expected revenue and earnings in the third quarter. 

Revenue in the third quarter decreased to $90.01 billion from $90.76 billion, net income attributable to shareholders fell to $8.6 billion from $9.07 billion, and diluted earnings per share eased to $1.92 from $2.95 a year earlier.

The company increased its fourth-quarter dividend to 99 cents per share from 95 cents, payable on December 10 to shareholders on record on November 14. 

Intel Corp. rose 7% to $23.01 after the advanced chipmaker reported loss in its latest quarter but lifted its annual outlook. 

Revenue in the third quarter declined 6% to $13.3 billion from $14.2 billion, net income swung to a loss of $16.6 billion from a profit of $0.3 billion, and diluted earnings per share were $3.88 compared to 7 cents a year ago. 

Net income in the quarter was impacted by the $6 billion charges linked to accelerated depreciation and goodwill impairment and $9.9 billion charges related to the establishment of a valuation allowance against U.S. deferred tax assets. 

The company estimated fourth-quarter earnings to range between $13.3 billion and $14.3 billion and GAAP earnings per share of a loss of 24 cents. 

Carnival Corp. slipped 0.8% to $21.83 after the company reported record quarterly results, but weak outlook weighed on the market sentiment. 

Revenue in the quarter ending in August increased to $7.9 billion from $6.8 billion, net income rose to $1.7 billion from $1.1 billion, and diluted earnings per share rose to $1.26 from 79 cents a year ago. 

During the third quarter, booking volumes remained robust for 2025 sailings at higher prices, in constant currency, compared to the prior year, and cumulative advanced booked position for full year 2025 is above the previous 2024 record with higher prices. 

The company estimated fourth quarter net yields to increased 5% from the record level in 2023, and adjusted operating earnings to rise 20% to $1.14 billion.