Earnings Coverage

Raleigh-based Bandwidth stock price slumps 25% after beating earnings target

Bandwidth's CEO said during an investor call on Thursday morning the company is positioned better than it has ever been before - but stock still slumped.

Apple misses expectations on earnings, revenues for first time in 7 years

Apple missed expectations on earnings per share and on quarterly revenues for the first time in seven years, the company reported on Thursday.

Google parent Alphabet misses on earnings, revenues while facing competition

Alphabet, the parent company for Google, missed expectations on earnings and revenues for the fourth quarter and full year of 2022.

Tesla to invest $3.6B to expand truck, battery manufacturing in Nevada

Tesla said it intends to invest $3.6 billion to expand manufacturing capabilities in Nevada and is confident growing software-related profits, reflected in record net income reported Wednesday for the fourth quarter of last year, will keep margins higher than any other automaker.

IBM beats Street and remains upbeat about growth - but will cut jobs

IBM met expectations on earnings and exceeded revenue projections. But the firm will cut 3,900 workers, according to Bloomberg.

Wolfspeed CEO remains optimistic despite missing Street's revenue expectations

Wolfspeed reported quarterly earnings on Wednesday afternoon, missing revenue expectations. The company's stock price has fallen in after-hours trading.

Investors looking at earnings - not inflation - for opportunity

Over the past few weeks investors have been squarely focused on inflation and Fed policy, but now market reactions are getting bigger for earnings.

Arrival continues restructure to bring EV products to US market - with $330M cash-in-hand

Electric van manufacturer Arrival, with US headquarters in Charlotte, is facing a number of challenges, and intends to focus on bringing products to US markets.

Earnings: ChannelAdvisor, Fathom, Precision BioSciences, Brighthouse

Earnings season continues with more North Carolina public companies reporting quarterly financials. Here's a roundup:

Uber moving full speed ahead following 72% earnings increase year-over-year

Uber today announced financial results for the quarter ended September 30, 2022. Earnings and revenue are up more than 70% year-over-year.

Wolfspeed earnings miss targets; CEO cites supply chain issues

Silicon carbide semiconductor manufacturer Wolfspeed, headquarter in Durham, didn’t quite meet analyst’s expectations, but its CEO remains optimistic.

Microsoft profits down 14% as Windows hit by weak PC sales

The company reported quarterly net income of $17.6 billion, or $2.35 per share, which still slightly beat Wall Street expectations despite undershooting last year's results.

Google parent company reports earnings fall short of expectations as ad sales dropped

Google may be the giant, but even it is not immune to the impact that the economic downturn and recession fears are having on the online ad market.

Wolfspeed is considering expansion sites, CEO says on earnings call

Durham semiconductor firm Wolfspeed reported quarterly and annual earnings on Wednesday, as the firm prepares for further growth.

Microsoft Earnings Fall Short of Already-Lowered Expectations

SEATTLE — The uncertainty and challenges in the global economy have hit Microsoft, which on Tuesday reported quarterly earnings that fell short of Wall Street’s and its own expectations.

Karen Weise, New York Times

Microsoft earnings fall short of already-lowered expectations

The tech giant said it had $51.9 billion in sales in the quarter ended June 30, up 12% from a year earlier. Profit rose 2% to $16.7 billion.

Google’s parent reports slowest quarterly growth in 2 years

Revenue at Alphabet during the April-June period totaled $69.7 billion, a 13% increase from the same time last year. That would be impressive growth for most companies outside of tech.

Chewy, with facility in NC, bucks downward trend in ecommerce that surprises investors

Chewy.com, which operates a distribution and fulfillment center in Salisbury, N.C., saw its stock price leap up 25% on Thursday.

Lenovo reports record year, but growth rate slowed last quarter

Lenovo, which operates an RTP facility, reported earnings earlier today, in what the company called a 'record year.' But its growth rate has slowed.

Blue Cross NC 'strong, stable' despite pandemic, rising costs

The three most expensive months for healthcare insurance provider Blue Cross NC occurred in 2021. Despite rising costs, the organization said it is stable.

Wilmington's nCino completes $1.2B acquisition of SimpleNexus, but stock price has slipped

Wilmington's nCino completed a $1.2 billion deal to acquire SimpleNexus earlier this month. But the company's stock price has fallen nearly 25%.

It's earnings season - here's where you can find details on NC companies

Publicly-traded companies are in the process of reporting quarterly earnings. Here's a list of NC companies that have issued earnings statements.

Uber Q3 loss widens on investment losses, revenue up 72%

Uber on Thursday posted a big rebound in third-quarter revenue thanks to riders and drivers returning from pandemic lockdowns, but its bottom-line loss was wider than Wall Street expected.

Qorvo beats earnings estimates, will buy back $2 billion of company stock

The Greensboro-headquartered semiconductor company Qorvo will buy back as much as $2 billion of its own stock in a move approved by the company's board of directors, following outperforming estimates for its fourth-quarter.

Nokia profit dips as it sees challenges in US market for 5G

The Finnish telecommunications networks provider Nokia on Thursday reported a smaller than expected drop in profit in the fourth-quarter while it acknowledged it was facing some challenges in the race for 5G networks, particularly in the North American market.