Cloud Growth Drives Microsoft Earnings Beat
Microsoft has benefited from businesses accelerating the shift to cloud infrastructure and applications due to the COVID-19 pandemic.
HSBC Beats Estimates, May Resume Dividend
“These were promising results against a backdrop of the continuing impacts of COVID-19 on the global economy."
SAP Shares Fall 23% on Q3 Results, Guidance
“COVID-19 has created an inflection point for our customers," the company said as it announced a "strategic pivot" to cloud computing.
Intel Shares Plunge on Falling Margins, Increased Competition
"We're seeing increased competition in the second half of the year, but not different levels of competition than we thought.”
Netflix Reports Mixed Q3 Earnings, Slower User Growth
Revenue was higher by 22.7% year-over-year as the company recorded 2.2 million paid net subscribers versus 6.8 million net additions a year ago.
Ex-Amazon Employee Accused of Insider Trading
The manager in Amazon's tax department allegedly made illegal trades with two family members ahead of the company's earnings announcements.
Costco Posts 11.4% Same-Store Sales Increase
The big-box retailer continued to benefit from shoppers stocking up on everything from food to patio furniture.
General Mills Sales Rise on At-Home Food Demand
The cereal maker's Q1 results were "highlighted by broad-based market share gains amid elevated at-home food demand due to the COVID-19 pandemic."
Digital Sales Surge Fuels Nike Earnings Beat
“We know that digital is the new normal. The consumer today is digitally grounded and simply will not revert back."
Michaels’ Sales Jump 11% on E-Commerce Push
The crafts retailer has enhanced and expanded omnichannel capabilities including curbside pick-up, same-day delivery, ship from store, and in-app purchases.
Zoom Revenue Soars on Remote Work Boom
“Organizations are shifting ... to supporting a future of working anywhere, learning anywhere, and connecting anywhere on Zoom's video-first platform."