Disney will report earnings for the first time since Bob Iger’s return – what to expect

Bob Iger poses with Mickey Mouse attends Mickey’s 90th Spectacular at The Shrine Auditorium on October 6, 2018 in Los Angeles. Valerie Macon | AFP | Getty Images LOS ANGELES – While shareholders will still be keyed in to see how many subscribers Disney’s suite of streaming services added during the fiscal first-quarter report, the focus of Wednesday’s earnings will be the return of CEO Bob Iger. His reinstatement coincides with a contentious proxy battle with activist investor Nelson Peltz and follows a rough year for the company’s stock, as…

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Fox projects record Super Bowl ad revenue after World Cup, NFL boosted results

Striker, The U.S. Soccer Star balloon from Fox Sports is waked in the 2022 Macys Thanksgiving Day Parade past Columbus Circle in honor of the U.S. Mens National Team competing in the 2022 FIFA World Cup in Qatar on November 24, 2022 in New York City. Ira L. Black | Getty Images Fox Corp said Wednesday it will rake in a record amount of Super Bowl ad revenue as it reported a boost in its fiscal second quarter results. The strong quarter was due in large part to a sports…

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Michael Kors-owner Capri shares plunge after revenue falls across the retailer’s luxury brands

A general view outside of a Michael Kors location Christopher Jue | Michael Kors | Getty Images Shares of Michael Kors-owner Capri Holdings plunged 20% in early trading Wednesday after the company missed earnings expectations and cut its annual profit forecast. High-end fashion companies outperformed many other industries last year amid decades-high inflation, but increasing prices have led some consumers to curb spending on luxury goods. Some industry experts expected brands like Michael Kors, which has a younger and less wealthy customer base, to take a larger hit than higher-priced…

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Under Armour raises outlook as earnings and revenue beat expectations

Under Armour shoes are seen inside of a store on November 03, 2021 in Houston, Texas. Brandon Bell | Getty Images Under Armour reported holiday quarter earnings Wednesday that beat Wall Street’s expectations, but the retailer is contending with a growing inventory glut that heavy promotions and discounting failed to alleviate. The company’s stock rose in light pre-market trading. Despite the inventory challenges, the athletic apparel company raised its earnings outlook for the fiscal year. It now expects to see per share earnings 52 cents to 56 cents, compared to…

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Fast-food giant Yum Brands tops expectations, led by strength in Taco Bell

Vehicles wait in line at the drive through lane of a Yum! Brands Inc. Kentucky Fried Chicken (KFC) and Taco Bell restaurant in Lockport, Illinois. Daniel Acker | Bloomberg | Getty Images Yum Brands on Wednesday reported quarterly earnings and revenue that topped analysts’ expectations, fueled by strong same-store sales growth at Taco Bell. Shares of the company were flat in premarket trading. Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Earnings per share: $1.31 adjusted vs. $1.26 expected Revenue: $2.02…

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Chipotle Mexican Grill misses expectations for earnings, revenue and same-store sales

A Chipotle restaurant and signage is seen on February 09, 2022 in Miami, Florida. Joe Raedle | Getty Images Chipotle Mexican Grill on Tuesday reported weaker-than-expected quarterly earnings and revenue, signaling that its price hikes may finally be alienating customers. In October, CEO Brian Niccol said the company saw “minimal resistance” to higher prices for its burrito bowls and tacos, although transactions during the third-quarter declined 1%.  Chipotle shares fell more than 5% in extended trading. Here’s what the company reported for the fourth quarter, compared with what Wall Street…

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Hertz fourth-quarter profit beats as costs come down and travel rebounds

Rental-car giant Hertz reported fourth-quarter earnings that were better than Wall Street expected, on renewed demand for travel as the Covid-19 pandemic eased in many parts of the world. The company also benefited from improved operating performance, CEO Stephen Scherr told CNBC, helping to boost earnings even as revenue came in roughly in line with Wall Street’s upbeat expectations. Here are the key numbers from Hertz’s fourth-quarter earnings report, compared with Refinitiv consensus estimates: Adjusted earnings per share: 50 cents vs. 46 cents expected Revenue: $2.035 billion vs. $2.033 billion…

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Nintendo cuts sales forecast for its ageing Switch console after disappointing holiday season

Nintendo said its Pokémon Scarlet and Pokémon Violet games for the Nintendo Switch hit an all-times sales record for the company. Pokémon is one of Nintendo’s longest-running and most popular franchises. Guillaume Payen | Sopa Images | Lightrocket | Getty Images Nintendo on Tuesday cut the outlook for its Nintendo Switch console and games sales and slashed its profit outlook for its current fiscal year. The Japanese gaming giant said it now expects to sell 18 million Switch units for the fiscal year ending March 2023, down from a previous…

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SoftBank’s Vision Fund posts fourth straight quarter of losses as tech slump hits Japanese giant

SoftBank’s Vision Fund, the brainchild of the company’s founder Masayoshi Son, has faced a number of headwinds including a slump in technology stocks as a result of rising interest rates, a tough China market and geopolitics. Kentaro Takahash | Bloomberg | Getty Images SoftBank’s flagship investment arm the Vision Fund posted its fourth straight quarterly loss on Tuesday as a slump in technology valuations continues to hit the Japanese giant. The Vision Fund segment posted a pre-tax loss of 660 billion Japanese yen ($5 billion) for the December quarter. SoftBank’s…

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Amazon’s cloud business reports 20% growth in fourth quarter, missing estimates

Amazon Web Services CEO Adam Selipsky delivers a keynote address during the AWS re:Invent conference in Las Vegas on Nov. 29, 2022. Noah Berger |Getty Images Amazon said revenue in its cloud unit increased by 20% in the fourth quarter, a slower pace than analysts had projected and more sluggish than the 27.5% growth rate in the third quarter. Cloud growth appears to be moderating along with other parts of the technology industry that boomed over the past decade and accelerated in the pandemic, when businesses adopted services that could…

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