refinitiv

Swedish audiobook streaming group Storytel reported second-quarter revenue ahead of analyst expectations, helped by growth across the Nordics, Europe, and the United States, sending its shares up 15 percent. Quarterly net sales rose 28 percent to 781 million Swedish crowns ($77.16 million) from 611 million crowns a year earlier. Analysts had expected 774 million crowns, Refinitiv data shows. Storytel underwent a restructuring in the first half of the year, with a management overhaul, a sharper focus on costs, and 100 job…

Ride-hailing firm Lyft Inc recently forecast an adjusted operating profit of $1 billion for 2024 after reporting record earnings for the second quarter, betting on strength in the rideshare market as it rebounds from pandemic lows. Lyft's shares jumped more than 8% in extended trading, as the company also reported profit above Wall Street estimates on the back of soaring demand for rides and its cost-cutting efforts. Earlier this week, bigger rival Uber Inc reported upbeat quarterly results and turned cash flow positive…

Nikola Corp exceeded market estimates for quarterly revenue as the electric-vehicle maker delivered more semi-trucks after a production ramp-up, sending its shares 6 percent higher in trading before the bell. The company produced 50 Tre battery electric vehicles at its facility in Coolidge, Arizona, in the April-June quarter and delivered 48 units to dealers. Nikola said it was on track to reach its 2022 delivery target of between 300 and 500 Tre BEV semi trucks.According to IBES data from Refinitiv, revenue was $18.1…

Auto-parts maker BorgWarner Inc said that it would buy electric-vehicle charging provider Rhombus Energy Solutions, the latest deal in the sector as sales of eco-friendly vehicles boom. The enterprise value of the deal can go up to $185 million, the company said, adding it would help increase the company's charging presence in North America and expand in Europe. BorgWarner, which supplies parts to car makers including General Motors Co. and Ford Motor Co., has targeted more revenue from electric vehicles by 2030. Electric…

JERUSALEM -Check Point Software Technologies beat estimates with a 2% gain in second-quarter profit, boosted by double-digit growth in revenue from products and subscriptions to protect cloud and other networks from escalating cyber attacks. The Israel-based group said it earned $1.64 per diluted share excluding one-off items in the April to June period, up from $1.61 a year earlier. Revenue grew 9% to $571 million. It was forecast to earn $1.62 a share on revenue of $560 million, according to I/B/E/S data from Refinitiv.…

Meta Platforms Inc issued a gloomy forecast after recording its first-ever quarterly drop in revenue with recession fears and competitive pressures weighing on its digital ads sales. Shares of the Menlo Park, California-based company were down about 4.6% in extended trading.The company said it expects third-quarter revenue to fall to $26 billion and $28.5 billion, which would make it a second year-over-year drop in a row. Analysts were expecting $30.52 billion, according to IBES data from Refinitiv.Total revenue, which…

Japan's Panasonic Holdings Corp, which supplies batteries to Tesla, posted a 39 percent drop in first-quarter earnings as China's COVID-19 lockdowns and rising material costs disrupted production and squeezed profitability. A two-month lockdown in Shanghai this spring kept people at home and forced factories to curtail output, exacerbating shortages of components including semiconductors. At the same time, rising material costs caused by Russia's invasion of Ukraine have eroded profits. The Japanese conglomerate, however,…

T-Mobile US Inc raised its subscriber growth forecast for the second time this year and exceeded quarterly profit expectations on Wednesday, as its relatively cheaper plans lured customers reeling from decades-high inflation. Shares rose 3 percent in premarket trading as the carrier's results marked a bright spot in the US telecom market in which Verizon Communications Inc and AT&T Inc cautioned that subscribers were feeling the heat of the rising cost of living. Quarterly reports from U.S. telecom companies have…

Chipmaker Texas Instruments Inc recently forecasted current-quarter revenue largely above expectations, betting on sustained demand from industrial and automotive customers and an improvement in shipments as supply-chain bottlenecks start to ease. Share of the Dallas, Texas-based company rose 4% in extended trade, with chipmakers Intel Corp and Nvidia Corp seeing gains as well. Some of the bigger chip companies, including Taiwan Semiconductor Manufacturing Co and Texas Instruments, have weathered the downturn from…

Tesla reported a smaller-than-expected drop in quarterly profit, helped by a string of price increases for its cars, which Elon Musk later said were "embarrassingly high" and could hurt demand. Tesla also sold a majority of its bitcoin holdings, which led to smaller-than-expected impairment charges caused by a decline in the value of the cryptocurrency, analysts said. CEO Elon Musk flip-flopped on a post-earnings conference call, saying at first that macroeconomic uncertainty might have some impact on demand for its…