Streetbeat News

Earnings

AZN

AstraZeneca (NASDAQ:AZN) reported Q1 2024 adjusted earnings per ADS of $1.03, missing the $1.22 estimate, but saw sales of $12.679B, surpassing the $11.833B estimate. This represents a 7.29% increase in earnings and a 16.55% increase in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 6:07 am

SNY

Sanofi (NASDAQ:SNY) reported Q1 2024 adjusted EPS of $0.97, surpassing the $0.94 estimate, and sales of $11.364B, exceeding the $11.044B estimate. This represents a 16.72% decrease in EPS and a 3.58% increase in sales year-over-year.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 5:37 am

STM

STMicroelectronics has revised its 2024 revenue outlook downwards to $14B-$15B from the previous forecast of $15.9B-$16.9B, below the consensus estimate of $16.12B. The company also expects a gross margin in the low 40's range but plans to maintain its net capital expenditure (Capex) for FY24 at approximately $2.5 billion, focusing on strategic manufacturing initiatives.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 5:26 am

STM

STMicroelectronics (STM) forecasts Q2 net revenues of $3.2B, below the consensus of $3.8B, with a gross margin of 40%, plus or minus 200 basis points. This guidance reflects a sequential decrease of 7.6% in revenues and is based on an assumed exchange rate of $1.08 = €1.00, including the impact of existing hedging contracts.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 5:22 am

STM

STMicroelectronics (NYSE:STM) reported Q1 2024 earnings of $0.54 per share, missing the $0.65 estimate, and sales of $3.465B, below the $3.615B estimate. This represents a significant decrease from the previous year's earnings and sales.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 5:11 am

EQNR

Equinor (NYSE:EQNR) reported Q1 2024 adjusted EPS of $0.96, surpassing the $0.80 estimate, with sales of $24.789B also beating the $22.240B estimate. However, both earnings and sales saw a decrease compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 5:08 am

GOOGL

META

MSFT

ORCL

During Meta Platforms, Inc.'s Q1 earnings call, executives Mark Zuckerberg and Susan Li were cautious about the potential impact of a TikTok ban or sale on the U.S. social media landscape, stating it's too early to assess. The TikTok ban, signed into law by President Biden, has been a topic of significant interest, with TikTok CEO Shou Zi Chew vowing to fight back. Wedbush analysts suggest Meta and Google could benefit from redistributed TikTok revenue, with Meta being the primary recipient.

Portfolio Pulse from Ananya Gairola

April 25, 2024 | 3:29 am

ADBE

IBM

NOW

NVDA

IBM CEO Arvind Krishna announced during the Q1 2024 Earnings Call that the company's AI bookings have surpassed $1 billion, emphasizing the growing importance of AI in driving productivity and enhancing customer experiences. Key partnerships with NVIDIA, ServiceNow, and Adobe were highlighted as instrumental in accelerating clients' AI journeys and digital transformation. Despite a revenue miss, IBM's focus on AI and strategic partnerships are seen as vital for future growth. IBM shares dropped 8.47% after hours to $168.51.

Portfolio Pulse from kaustubh@benzinga.com

April 25, 2024 | 2:33 am

META

Meta Platforms, Inc. (NASDAQ:META) CEO Mark Zuckerberg announced that over 50% of Instagram content and 30% of Facebook posts are AI-recommended. This statement was part of Meta's Q1 financial results, revealing a 27% revenue increase to $36.45 billion, surpassing estimates. AI has significantly boosted advertiser value, with AI-powered tools revenue doubling. Meta also introduced new user controls and labels for AI-generated content to enhance transparency and user engagement.

Portfolio Pulse from Ananya Gairola

April 25, 2024 | 1:54 am

AMZN

IBM

META

SNAP

TSLA

On Wednesday, Meta Platforms, Snap, Amazon, IBM, and Tesla were key stocks on investors' radars, with varied performances. Meta Platforms reported a 27% increase in Q1 revenue, beating estimates. Snap's stock fluctuated following a bill impacting TikTok. Amazon launched a new grocery delivery subscription, while IBM's revenue slightly missed estimates. Tesla's shares surged 12.06% despite missing analyst estimates, buoyed by investor sentiment.

Portfolio Pulse from Benzinga Neuro

April 25, 2024 | 1:47 am