Exxon Mobil releases mixed quarterly results

Exxon Mobil ended in negative territory on Friday, down 1.52%, after the group released a mixed set of results. During the previous quarter, the group saw revenues come in at $62.9bn, 9% higher than the $57.7bn recorded a year ago and slightly higher than expectations of $61.9bn. Exxon recorded net income of $3.4bn, or 78 cents per share, nearly double the $1.7bn, or 41 cents per share, reported in the previous corresponding period. However, this was slightly lower than analysts estimates of 84 cents per share. The group saw its cash flow generated from operations increase to $6.9bn, up from $4.6bn a year ago.

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Amazon drops after large earnings miss

Amazon’s shares traded sharply lower in after-hours trade on Thursday, negatively affected by the release of mixed results. During the second quarter, revenues increased by around 25% to $37.96bn, beating estimates of an uptick to $37.18bn. This increase was partly due to a strong performance from Amazon Web Services, which also surpassed expectations. However, Amazon reported a large miss in earnings, with its adjusted earnings per share coming in at only 40 cents, sharply lower than the $1.42 per share expected. This miss however was mainly due to the group’s investment into a number of new areas.

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Facebook beats already high expectations

Facebook was sharply higher in after-hours trade on Wednesday, buoyed by the release of better-than-expected 2nd quarter results. During the period, revenues came in at $9.32bn, marginally higher than estimates of an increase to $9.2bn. This uptick was mainly attributable to a 53% increase in mobile ad sales, with the figure totalling $8bn during the quarter. The group also showed the price of an ad increased by 24%, while the number of ads grew by 19%. Overall, Facebook recorded adjusted earnings per share of $1.32, sharply higher than expectations of $1.13. Other highlights included its number of monthly active users standing at 2.01bn at the end of the period, above expectations of 1.98bn.

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McDonald’s shares hit new all-time high

McDonald’s reported better-than-expected results on Tuesday which helped the group’s shares move to a new all-time high. During the quarter, McDonald’s saw revenues come in at $6.05bn, marginally higher than estimates of $5.96bn. This was partly due to a 6.6% increase in global same-store sales and a 3.9% increase in US same-store sales, much higher than expectations of a 3.7% and 2.9% increase respectively. Furthermore, the group benefited from its move to upscale burgers and discount beverages. Adjusted earnings per share amounted to $1.70, easily surpassing estimates of $1.62.

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Alphabet reports strong results

General Electric’s shares declined to their lowest level in 19 months on Friday, despite the group reporting better-than-expected results. The decline was mainly attributed to a 12% slump in revenue to $29.558bn, better than estimates of a decline to $29.015bn, but sharply lower than the $33.49bn recorded a year ago. Net profit for the period declined by 58% to $1.34bn, or 15 cents a share, much lower than the $3.30bn, or 36 cents a share, reported a year ago. On an adjusted basis, earnings declined to 28 cents per share, slightly higher than estimates of 25 cents per share, but sharply lower than the 51 cents per share recorded in the previous corresponding period.

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General Electric shares drop despite better-than-expected results

General Electric’s shares declined to their lowest level in 19 months on Friday, despite the group reporting better-than-expected results. The decline was mainly attributed to a 12% slump in revenue to $29.558bn, better than estimates of a decline to $29.015bn, but sharply lower than the $33.49bn recorded a year ago. Net profit for the period declined by 58% to $1.34bn, or 15 cents a share, much lower than the $3.30bn, or 36 cents a share, reported a year ago. On an adjusted basis, earnings declined to 28 cents per share, slightly higher than estimates of 25 cents per share, but sharply lower than the 51 cents per share recorded in the previous corresponding period.

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Microsoft Corp surpasses analysts’ estimates of $24.27bn

Thursday, Microsoft traded higher in after-hours trade only to erase its gains shortly thereafter, despite the group releasing better-than-expected quarterly results. During the period, the group reported revenues of $24.7bn, beating analysts’ estimates of $24.27bn. This was mainly due to a 97% increase in revenue from Azure, while Microsoft’s Dynamics 365 segment saw revenues grow by 74%. Overall, Microsoft recorded earnings per share of 98 cents, sharply higher than expectations of 71 cents. For the full fiscal year, the group saw non-GAAP net income stand at $25.9bn, with non-GAAP revenue coming in at $96.7bn.

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Morgan Stanley results beat estimates

On Wednesday, Morgan Stanley traded sharply higher after the group reported better-than-expected results for the 2nd quarter. During the period, revenues came in at $9.50bn, easily surpassing estimates of $9.09bn and much higher than the $8.9bn reported a year ago. Unlike other banking firms, Morgan Stanley’s trading divisions performed relatively well. As a result of the strong revenue figures, Morgan Stanley reported adjusted earnings per share of 87 cents, up from the 75 cents recorded in 2016 and much higher than expectations of 76 cents.

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Goldman Sachs smashes expectations

Goldman Sachs released its latest quarterly results on Tuesday, with the group easily beating expectations for both earnings and revenue. During the quarter, the group saw revenues at $7.89bn, higher than estimates of $7.52bn. However, despite the better-than-expected revenue, a sharp decline in bond trading revenue weighed on the group’s shares. Revenues from fixed income, currencies and commodities trading slumped by 40% compared to the second quarter of 2016. Goldman Sachs recorded adjusted earnings per share of $3.95, much higher than expectations of $3.39 per share.

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Netflix jumps 10% on strong user growth

Netflix released mixed results on Monday, with revenues surpassing estimates but earnings coming in below expectations. Netflix shares surged more than 10% in after-hours trade as the market chose to focus on the exceptional, above expectation, user growth. During the quarter, Netflix added 5.2mn subscribers, sharply higher than the 3.23mn expected. Buoyed by the large increase in users, revenues climbed to $2.79bn, up from the $2.11bn recorded a year ago and marginally higher than expectations of $2.76bn. Despite the uptick, adjusted earnings per share only came in at 15 cents, higher than the 9 cents reported in 2016, but slightly lower than estimates of 16 cents.

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