Driven by demand for cloud computing services, Microsoft Corp. on Tuesday forecasted revenue this fiscal year would grow by double digits in sales and operating income in fiscal 2023.
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In a surprise business update on Monday, Walmart revealed guidance for adjusted earnings per share to fall between 8% and 9% for the second quarter and around 11% and 13% for the full year, sending shares down 9% in U.S. premarket trading.
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Last week, shares of Verizon Communications Inc. (NYSE:VZ) plunged to their biggest drop in 14 years after the company said cash-strapped customers and stiffer competition would pressure its business through the end of the year.
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Snap Inc. painted a grim picture of a weakening economy Thursday after the company posted poor quarterly results and warned of an uncertain outlook which caused concern that rising inflation and other economic woes could cause brands to slash their marketing budgets.
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Electric-vehicle leader Tesla on Wednesday reported quarterly earnings after the bell that beat analysts' expectations again. Despite facing several challenges, including limited production and shutdowns in Shanghai for the majority of the second quarter, Tesla reported revenues of $16.93 billion.
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On Tuesday, Netflix, whose stock has had a rough 2022, said it had lost fewer subscribers in the second quarter than previously anticipated, sending shares up 8% in after-hours trading.
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On Monday, International Business Machines, better known as IBM, reported better-than-expected quarterly revenues, rising 9% year-over-year to $15.5 billion on strong demand for the company's AI and hybrid cloud products.
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The entertainment company, Walt Disney, said it is significantly raising the price for its ESPN+ service next month, an increase of 43% from $6.99 per month to $9.99.
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