DoorDash projected second-quarter core profit below expectations on Wednesday despite beating first-quarter revenue estimates, indicating that higher costs were offseting some of its gains from rising groceries and food orders. "When I look at the business from Q4 to Q1, costs did go up," said CFO Ravi Inukonda in an interview with Reuters, adding that the company passed on some fees to consumers. DoorDash expects adjusted earnings before tax, interest, depreciation, and amortization between...
(Bloomberg) -- CVS Health Corp. shares tumbled the most in nine years after the company cut its annual earnings outlook for the second quarter in a row, citing increased medical costs in its Medicare insurance business.Most Read from BloombergTesla Axes Supercharger Team in Blow to Broader EV MarketNYPD Arrests Over 300 Protesters in Crackdown on College CampusesFed to Signal Delay of Interest-Rate CutsLilly Soars as Forecast Boost Shows Weight-Loss Drugs’ PowerAmazon Posts Biggest Cloud Sales...
3M said its dividend payout ratio is expected to be 40% of adjusted free cash flow, with a potential to increase over time following the spin off of its healthcare business. The company has benefited from steady price increases across categories, which have helped it offset inflation and slow demand in its electronics business. "We improved performance in our businesses through strong operational execution, completed the spin-off of Solventum, and finalized two major legal settlements,"...
The new research shows that in the period from January to April 2024, there was a 22.6% increase in more advanced or ‘critical’ distress among Scottish businesses compared with the same period the previous year. This type of severe distress affected over 2,060 businesses in Scotland. The level was even greater than the UK-wide figure which saw a 20.1% rise in critical distress since Q1 2023, representing over 40,170 businesses. In the first quarter of 2024, while Scotland saw an 8% fall in...
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The Nationwide says the average cost of a home was down 4% on the peak seen
United Parcel Service Inc. reported profit higher than analysts’ estimates as the courier’s headcount management and restructuring of its delivery routes began to bear fruit.
Tech giant Huawei's first-quarter profits surged over fivefold year-on-year, a company filing showed Tuesday, as the U.S.-sanctioned firm continues a rebound and bit into competitor Apple's sales in China. Huawei has long found itself caught in the middle of an intense technological rivalry between Beijing and Washington, which has warned
Wizz Air has cut its targets for annual profit as issues with its GTF engines continue to impact capacity.
UPS reported a 3.2% decline in average daily volumes in its domestic segment and a 5.8% drop in its international segment, but said volumes "showed improvement through the quarter". "Revenue in both major businesses, U.S. Domestic and International, fell short of expectations," said Jonathan Chappell, equity analyst at Evercore ISI, in a research note.
reported a decline in first-quarter profit on Tuesday, as margins came
Shares of the U.S. drugmaker have lost 11% of their value this year on worries over its growth after the pandemic as billions of dollars in COVID vaccine and treatment sales evaporated. Pfizer reiterated its annual revenue forecast of $8 billion from the sale of COVID-19 shot Comirnaty and anti-viral treatment Paxlovid. Revenue from Comirnaty, for which it partners with Germany's BioNTech, continues to perform consistently with its expectations, Pfizer said.