Delta Air Lines (NYSE: DAL) reported a loss for the third quarter as the company’s operations were affected by the COVID-related disruption. The stock suffered a big loss on Tuesday morning, soon after the announcement.
The aviation firm posted a loss of $3.30 per share, on an adjusted basis, in the third quarter, compared to earnings of $2.33 per share a year earlier. The reported net loss was $5.38 billion or $8.47 per share, which marked a deterioration from the prior-year period when the company recorded a profit of $1.5 million or $2.31 per share.
The bottom-line was hurt by a 76% fall in revenues to $3.1 billion, reflecting the sharp fall in passenger traffic that triggered widespread trip cancellations. The top-line matched the Street view, while earnings missed.
DAL shares fell 3.8% during Tuesday’s pre-market trading hours, immediately following the announcement, after closing the previous session lower.
Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared
Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million
With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard