Tag: corporate profits

Roku stock drops 25% as TVs are hard to find

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Roku reported quarterly revenue that didn’t beat estimates, as the company was hit by supply chain issues that affected sales of its TVs and streaming devices, sending shares down 25% in Friday afternoon trading. The company, which has been getting a boost during the pandemic with people stuck in their homes, recently saw demand for streaming services easily with restrictions imposed to prevent the spread of COVID-19. Netflix last month forecast weak subscriber growth in the first quarter. Roku said Thursday that it expects revenue for the current quarter of…

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Blantyre, backed by Peter Thiel, fell 12% after missing earnings estimates

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Palantir erred in its quarterly profit estimates and forecast weaker profit margins on Thursday, as the data-analytics software company boosted spending to rebuild its platform and support a growing business. Shares of Denver-based Palantir fell more than 12% and were the most traded across US stock exchanges, after the company said it expects an adjusted operating margin of 27% in fiscal year 2022, down from 31% in 2021. However, current quarter sales were higher than estimates after a steady stream of government contracts and a strong commercial portfolio in the…

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GM’s profit plunged 40 percent as chip shortages hampered production

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Higher prices for trucks and SUVs helped General Motors make a $2.4 billion profit in the third quarter, but income was 40% less than a year ago due to a shortage of new vehicles due to a global shortage of computer chips. Profits are down from $4 billion last year as sales plummet and the company loses market share in the United States, its most profitable country. GM shares fell 5% on the news. Excluding one-time items, the company earned $1.52 per share, beating Wall Street estimates of 98 cents.…

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