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Aug 1, 2023

Uber Technologies declined 4.6% to $47.11 after the company said gross bookings rose 16% to $33.5 billion and reported quarterly profit of 18 cents a share.

Revenue in the second quarter rose 14% to $9.2 billion from $8.1 billion a year ago.

The company swung to operating profit of $326 million from a loss of $726 million, first ever operating income on GAAP basis.

Net income attributable to shareholders was $324 million compared to a loss of $2.6 billion and diluted earnings per share was 18 cents compared to ($1.33) a year ago.

UBER

Pfizer Inc increased 0.9% to $36.27 after the pharmaceutical company reported mixed quarterly results in the second quarter.

Revenue in the second quarter declined 54% to $12.7 billion from $27.7 billion and net income plunged 77% to $2.3 billion from $9.9 billion and diluted earnings per share dropped to 41 cents from $1.43 a year ago.

Expected decline in Paxlovid and Comirnaty (Covid vaccine) revenues drove a 53% decline in operating revenues.

PFE

Arista Networks, Inc soared 22% to $186.86 after the company reported higher-than-expected sales and earnings in the second quarter and also estimated higher-than-expected third quarter sales.

Second quarter sales increased to $1.5 billion from $1.1 billion and net income jumped to $491.9 million from $299 million and diluted earnings per share advanced to $1.55 from 94 cents a year ago.

The company forecasted third quarter revenue between $1.45 billion and $1.50 billion and non-GAAP margin of 62%.

ANET

Jul 28, 2023

Exxon Mobil Corp declined 1.8% to $103.54 after the largest oil company reported mixed quarterly results.

Revenue in the second quarter declined to $82.9 billion from $115.7 billion and net income attributable to shareholders fell to $7.9 billion from $17.9 billion and diluted earnings per share dropped to $1.94 from $4.21 a year ago.

XOM

Chevron Corp fell 0.8% to $158.50 after the oil company reported lower earnings from a year ago following a decline in energy prices.

Revenue in the second quarter fell to $48.9 billion from $68.7 billion and net income declined to $6.0 billion from $11.6 billion and diluted earnings per share dropped to $3.20 from $5.95 a year ago.

CVX

Intel Corporation jumped 6.7% to $36.73 after the chipmaker returned to profitability in the second quarter after losses in previous two quarters in a row.

Revenue in the second quarter declined 15% to $12.9 billion from $15.3 billion and the company swung to a net income of $1.5 billion from a loss of $0.5 billion and diluted earnings per share was 35 cents compared to a loss of ($0.11) a year ago.

The company announced a dividend of 12.5 cents a share payable on September 1 to shareholders on record on August 7.

The company's third quarter sales also suggested improving sales and forecasted third quarter sales between $12.9 billion and$13.9 billion and gross margin of 39.1% and diluted earnings per share of 4 cents.

INTC

Sweetgreen Inc declined 11.5% to $13.60 after the salad chain reported weaker-than-expected sales and comparable store sales decelerated from a year ago.

Revenue in the second quarter increased 22% to $152.5 million from $124.9 million and same store sales change slowed to 3% from 16% a year ago.

Average restaurant sales were stable around $2.9 million in the last four quarters.

Restaurant-level profit was $31.1 million and restaurant-level profit margin was 20% compared to $23.1 million and 19% respectively in the prior year period.

Net loss declined to $27.3 million from $40.5 million and diluted loss per share decreased to 24 cents from 37 cents a year ago.

The salad chain forecasted fiscal year 2023 revenue between $575 million and $595 million and same store sales to increase between 2% and 6%, and restaurant level profit margin between 16% and 18% compared to the previous estimate between 15% and 17%.

The company estimated net new restaurants opening between 30 and 35 in 2023.

Jul 27, 2023

Meta Platforms Inc jumped 6.8% to $319.08 after the company reported better-than-expected earnings on the back of strong advertising revenue.

Total revenue increased 11% to $31.9 billion from $28.8 billion and net income declined 16.8% to $7.8 billion from $6.7 billion and diluted earnings per share dropped to $2.98 from $2.46 a year ago.

The company repurchased $793 million of Class A common stock in the first quarter and as of June 30, 2023, the company had $40.91 billion available and authorized for repurchases.