Uber shares dropped as much as 12% in extended trading Thursday after the company delivered disappointing second-quarter results. Shares remained down roughly 8% in premarket trading Friday. It was a miss on both top and bottom lines for Uber. Net losses for the ride-hailing company soared to $5.24 billion, largely owing to stock based compensation.
Earnings
Dara Khosrowshahi, chief executive officer of Uber Technologies Inc., speaks on a webcast during the company’s initial public offering (IPO) on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Friday, May 10, 2019. Michael Nagle | Bloomberg | Getty Images Uber’s $5.2 billion second-quarter loss is big on its
Lionel Bonaventure | AFP | Getty Images Media company Fox Corp reported quarterly results that beat Wall Street estimates on Wednesday, boosted by higher fees collected from cable and satellite operators and online distributors. The company said its adjusted profit for the quarter was 62 cents per share, beating analysts’ estimates by 3 cents a
Pedestrians walk by the American International Group building. Ramin Talaie | Bloomberg | Getty Images Insurer American International Group beat Wall Street estimates for quarterly profit on Wednesday, boosted investment income, sending its shares up 2.7% in extended trading. A strong performance in commercial and personal insurance in regions outside of North America helped the
A person exits the Viacom offices in New York. Lucas Jackson | Reuters Viacom, the owner of MTV, Comedy Central, and Nickelodeon, beat estimates for quarterly revenue on Thursday, helped by a rare growth in domestic advertising revenue. Net income attributable to Viacom rose to $544 million, or $1.35 per share, in the third quarter
Dark Phoenix Source: Walt Disney Studios “Avengers: Endgame” may have become the highest-grossing film of all time, but Earth’s mightiest heroes weren’t able to boost Disney‘s studio earnings above analyst estimates in the third quarter. In fact, “Dark Phoenix,” a film obtained by Disney during the 20th Century Fox acquisition earlier this year, was the
Disney is set to release its own streaming service, Disney+, on November 12, and on the same day it will also offer a deal bundling Disney+, ESPN+, and Hulu, the company announced on Tuesday. The price for that three-piece bundle? $12.99 per month — the same price as a Netflix standard plan. According to Disney
A pedestrian walks through the parking lot of a CVS Health Corp. store in Oakland, California, Aug. 2, 2019. Michael Short | Bloomberg | Getty Images CVS Health on Wednesday smashed Wall Street’s second-quarter earnings and revenue expectations and raised its full-year forecast. Here’s what the company reported compared with Wall Street estimates, based on
The Thomson Reuters logo is seen on the company building in Times Square, New York. Carlo Allegri | Reuters Thomson Reuters raised its sales and core profit outlook for 2019 and 2020 on Thursday after reporting 4% organic revenue growth for the second quarter, which it said was its best since 2008 and ahead of
Customers wearing Taco Bell foam taco hats exit the company’s restaurant, a unit of Yum! Brands Inc. in Bangkok, Thailand, last January. Brent Lewin | Bloomberg | Getty Images Yum Brands reported second-quarter earnings Thursday that beat Wall Street’s expectations, sending its shares up more than 4% in premarket trading. Here’s what the company reported