A slew of major companies are reporting earnings this week. Industrial conglomerate General Electric (GE) will announce third-quarter earnings on Tuesday before the bell. Analysts expect earnings to fall 31% to $0.20 per share as the company divests underperforming units to streamline its operations. Revenue is expected to drop by 10.60% to $29.92 billion due to the offload of its operations.
Credit card firm Mastercard (MA) is scheduled to post third-quarter earnings on Tuesday as well. Analysts predict earnings of $1.68 per share on a revenue of $3.86 billion. High rebates and incentives offered to customers could pressure the profitability of the company during the quarter.
Facebook (FB) is set to post lower earnings on Tuesday after market hours. Earnings are likely to fall 7.50% to $1.47 per share as the social media giant spends more to ensure better data security. Revenue is predicted to rise by 38% to $14. 26 billion. The userbase growth is set to drop further in the third quarter due to the #deletefacebook movement and Cambridge Analytica scandal.
Automaker General Motors (GM) will post Q3 results on Wednesday. Street consensus says the company will post earnings of $1.25 per share on revenue of $34.85 billion. The auto industry expects negative impacts from the stand-off between the US and China. The bottom line is likely to be weighed by higher costs and expenses despite a growth in the top line.
The maker of fitness tracker, Fitbit (FIT) is reporting third-quarter results on Wednesday after the bell. Analysts expect a loss of $0.01 per share on revenue of $381.21 million. The top line is likely to fall as the company managed to sell fewer wearable devices this quarter. Fitbit has been struggling due to stiff competition from rivals including Apple (AAPL), Garmin (GRMN), and Xiaomi.
Music streaming giant Spotify Technology’s (SPOT) Q3 results will be announced on Thursday before the market opens. Analysts expect a loss of $0.41 per share on revenue of $1.53 billion. The company has blamed the new regulations in Europe for the slowed revenue growth. During the quarter, the company expects subscribers and active users to grow by a minimum of 25% from last year.
Apple Inc. (AAPL) is set to deliver its fourth-quarter results on Thursday after the market close. Analysts expect earnings to grow by 34.30% to $2.78 per share as the company is likely to control the costs and expenses associated with the new product launches. Revenues are anticipated to jump 17.10% to $61.59 billion. Strong sales of iPhone, Services, and Wearables are predicted to continue driving the results.
Coffee-shop chain Starbucks (SBUX) will report its fourth-quarter results on Thursday after the bell. Earnings are predicted to rise by 9.10% to $0.60 per share and revenue is likely to increase by 10.20% to $6.28 billion. The company is depending on the comparable store sales growth as well as the growth in the US memberships to its loyalty program for the quarterly performance. The company’s restructuring initiative is heating up as it has finally zeroed in on Patrick Grismer to be named the new finance chief.
As GoPro Inc. (GPRO) announces third-quarter results on Thursday, analysts expect a loss of $0.06 per share on revenue of $272.27 million. The shipment of camera units could remain a major highlight at the earnings announcement as it had unveiled three new products during September. Revenue in the Americas is likely to drop year-over-year, while that from Europe and the Asia Pacific could see a modest rise.
Micron Technology Inc. (NASDAQ: MU) Thursday said its fourth-quarter profit declined from last year, hurt by a sharp fall in revenues. Earnings, however, beat the market’s projection. On an adjusted
Shares of Philip Morris International Inc. (NYSE: PM) were down 1% on Thursday. The stock has dropped over 9% year-to-date. Although the tobacco industry has felt the pinch of inflation,
CarMax, Inc. (NYSE:KMX) reported second quarter 2023 earnings results today. Net revenues rose 2% year-over-year to $8.1 billion. Net earnings were $125.9 million, or $0.79 per share, compared to $285.2 million,