(AOF) – AMD
AMD revealed better-than-expected results and forecasts. And in the first quarter, rival Intel saw its net profit fall 19% to $786 million, or 56 cents a share. Excluding exceptional items, earnings per share were $1.13, or 21 cents better than the Bloomberg consensus. Meanwhile, the semiconductor manufacturer’s revenue jumped 71% to $5.89 billion, as Wall Street targeted $5.3 billion.
AIG reported net income of $4.25 billion in the first quarter of 2022, up 9.9% from $3.87 billion a year earlier. This includes, for both periods, the realized gains relating to the reinsurance company in which it has a minority interest. Excluding exceptional items, its closely watched adjusted after-tax profit jumped 16% from $923 million to $1.07 billion. Revenue was $10.99 billion, versus $10.62 billion last year at the same time.
Airbnb reported a loss of $19 million, or 3 cents per share, in the first quarter of 2022, a marked improvement after the $1.2 billion loss posted last year at the same time. It’s also better than the 25 cents per share loss that the FactSet consensus had predicted. Meanwhile, volume jumped 70% to 1.5 billion, while the consensus was 1.45 billion. The holiday accommodation platform also recorded 102.1 million nights reservations, a record.
CVS Health reported earnings of $2.31 billion in the first quarter of 2022, or $1.74 per share, after $2.22 billion last year. Excluding exceptional items, EPS came to $2.22, beating the FactSet consensus ($2.17). Meanwhile, the pharmacy chain’s sales volume rose 11.2% to $76.83 billion, to $75.4 billion. For 2022, the group is targeting adjusted earnings per share of $8.20 to $8.40, compared to a previous target of $8.10 to $8.30.
Lyft reported better-than-expected quarterly results but the outlook is disappointing. The US technology company specializing in transportation services in the first quarter posted a net loss of $196.8 million, compared to a loss of 427.3 million a year ago. Excluding exceptional items, earnings per share were 7 cents versus a loss of 35 cents a year earlier. Analysts had expected a loss of 7 cents. The turnover jumped 44% to 875.6 million. It was unanimously estimated at 848.9 million.
Starbucks revealed quarterly results slightly below expectations and suspended its annual forecast due to macroeconomic uncertainty, particularly the resurgence of COVID in China. During its fiscal second quarter, the coffee giant posted earnings per share, excluding exceptional items, of 59 cents. Analysts expected 60 cents. Revenue increased 15% to $7.6 billion against a consensus of $7.62 billion. The group opened 313 stores during the quarter.
Elon Musk, who agreed to buy Twitter in a $44 billion deal, told potential investors that he could re-list the network within a few years, the Wall Street Journal alleged. The Tesla founder said he plans to go public on Twitter within three years of buying it, according to people familiar with the matter.
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