earnings
New York (AFP) - The US retail giant Walmart reported a rise in revenues on Thursday on increased e-commerce and advertising sales, and raised its outlook for the year. Given its vast size and presence across the United States, Walmart's earnings are closely scrutinized for signs of the broader health of US consumers. Its strong sales in the US for the second quarter of the year suggest that consumers, still contending with a post-pandemic rise in the cost of many household items, are choosing to shop at Walmart over more expensive grocery stores. "So far we aren't experiencing a weaker consu...
AFP
Washington (AFP) - Disney on Wednesday reported better revenues than anticipated in the most recent quarter, atop a first profit in its streaming business, but its theme parks are coming under pressure. The mixed picture drove its shares down 4.5 percent. The company saw revenues of $23.2 billion, beating projections of $23.1 billion according to analysts polled by FactSet, while overall profits reached $2.6 billion. "This was a strong quarter for Disney, driven by excellent results in our Entertainment segment both at the box office and in DTC (direct-to-consumer)," said Disney chief executiv...
AFP
The biggest technology firms in the world posted almost universally disappointing second quarter earnings for 2024. Though there were a couple of exceptions, companies that have attached their wagons to the generative AI train appear to be losing ground with mainstream consumers and enterprise clients alike. All indications point to the ouroboros problem — often depicted as a snake eating itself — where generative AI tools such as chatbots can only become so useful before increasing the amount of data and processing power they use produces diminishing returns. The same appears to be true when ...
Cointelegraph
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San Francisco (AFP) - US tech giants saw their shares fluctuate this week as investors tried to gauge whether artificial intelligence will fill coffers or drain them. While it is important to stay on the cutting edge by investing in AI, the market wants financial engines of tech firms going strong to pay for it, according to analysts. Apple and Amazon on Thursday were the latest titans to see quarterly earnings scrutinized over how their core businesses are doing and whether cloud and AI strategies are paying off. Amazon said its profit in the recently ended quarter doubled with the help of re...
AFP
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New York (AFP) - Procter & Gamble projected revenue growth over the next 12 months as the consumer products giant reported mixed results Tuesday, with solid US and European sales offset by continued weakness in China. While some companies have pointed to recent consumer deterioration in the United States and Europe, "we generally don't see the dynamic that some are describing," said Jon Moeller, chief executive of the company behind Tide detergent, Pampers diapers and Crest toothpaste. Moeller cited a streak of higher volumes notched by P&G in the United States and Europe over the last several...
AFP
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