Streetbeat News

Earnings

JPM

JPMorgan Chase & Co reported Q2 net revenue of $42.4 billion, up 34.1% YoY, beating the consensus of $38.96 billion. Noninterest revenue was $20.5 billion, up 25%, driven by higher CIB Markets noninterest revenue. Net interest income increased by 44% YoY to $21.9 billion. Q2 Consumer & Community Banking revenue increased 37% YoY to $17.23 billion. Assets under management stood at $3.2 trillion (+16% Y/Y), and client assets stood at $4.6 trillion (+20% Y/Y). JPM shares are trading higher by 2.75% at $152.97 premarket.

Portfolio Pulse from Akanksha Bakshi

July 14, 2023 | 12:09 pm

OGI

Organigram Holdings Inc. (NASDAQ:OGI) (TSX:OGI) reported a 14% YoY decline in Q3 revenue to CA$32.8 million ($25 million), impacted by THC inflation. The company also reported a gross loss of CA$4.7 million and a net loss of CA$213.5 million. However, Organigram expects Q4 fiscal 2023 net revenue to be higher than Q3 and to achieve positive adjusted EBITDA. The company's shares were trading 12.91% lower in Friday's pre-market session.

Portfolio Pulse from Vuk Zdinjak

July 14, 2023 | 12:06 pm

C

Citigroup's Q2 2023 banking revenue has been reported at $1.2B, marking a 44% decrease year-over-year.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 12:05 pm

C

Citigroup's Q2 2023 operating expenses have increased by 6% year-on-year to $13.6 billion.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 12:04 pm

C

Citigroup reported Q2 earnings of $1.33 per share, beating the analyst consensus estimate of $1.30 by 2.31%. However, this is a 39.27% decrease from the same period last year. The company also reported quarterly sales of $19.40 billion, beating the estimate of $19.27 billion by 0.67%, but this is a 1.21% decrease from last year.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 12:02 pm

BLK

BlackRock Inc (NYSE:BLK) reported a Q2 revenue decline of 1% Y/Y to $4.46 billion, slightly below the consensus of $4.47 billion. Total net inflows stood at $80.2 billion, reflecting the continued strength of a broad-based platform. Adjusted EPS rose 26% Y/Y to $9.28, beating the consensus of $8.46. Total AUM were $9.43 trillion as of June 30, 2023. The company repurchased shares worth $375 million in Q2. BLK shares are trading lower by 0.92% at $733.00 premarket on the last check Friday.

Portfolio Pulse from Lekha Gupta

July 14, 2023 | 11:43 am

BLK

C

ERIC

JPM

MICS

STT

UNH

WFC

Earnings reports are scheduled for July 14, 2023 for several companies including Telefonaktiebolaget L M (ERIC), JPMorgan Chase (JPM), BlackRock (BLK), UnitedHealth Group (UNH), Citigroup (C), Wells Fargo (WFC), Singing Machine Co (MICS), and State Street (STT).

Portfolio Pulse from Benzinga Insights

July 14, 2023 | 11:42 am

AMZN

Amazon's U.S. online sales during the Prime Day shopping event increased by 6.1% to $12.7 billion from last year. The second day of the event saw sales of $6.3 billion, with increased sales of back-to-school items. The average order size rose to $54.05 from $52.26 last year. However, about 900 Amazon workers at a warehouse in Britain are striking over a pay dispute during the Prime Day shopping event.

Portfolio Pulse from Anusuya Lahiri

July 14, 2023 | 11:38 am

STT

State Street (NYSE:STT) reported Q2 earnings of $2.17 per share, beating the analyst consensus estimate of $2.10 by 3.33%. However, the company's quarterly sales of $3.11 billion missed the analyst consensus estimate of $3.14 billion by 0.96%. This represents a 5.32% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 11:34 am

VWAGY

Volkswagen AG reported a 48% YoY increase in all-electric vehicle deliveries in H1 2021, with a total of 321,600 units. The majority of these deliveries were in Europe (68%), followed by China (19%) and the USA (9%). In the USA, deliveries increased by 76% to 29,800 vehicles. However, in China, deliveries were 2% below the previous year's level due to a competitive market environment. The company expects this positive trend to continue in the coming months.

Portfolio Pulse from Nabaparna Bhattacharya

July 14, 2023 | 11:20 am