E-commerce platform Shopify (NYSE: SHOP) on Thursday reported a 46% growth in third-quarter 2021 revenues. However, adjusted earnings decreased year-over-year.
Revenues moved up 46% annually to $1.12 billion, which was below the consensus estimates.
However, adjusted profit dropped to $0.81 per share from $1.13 per share in the third quarter of 2020. The reported net income was $1.15 billion or $9.0 per share, compared to $191.1 million or $1.54 per share in the prior-year period.
The company’s stock declined on Thursday morning immediately after the earnings announcement, after closing the previous session lower.
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,