Stock futures pointed mostly to the downside Friday after Apple issued a disappointing revenue forecast for the holiday quarter and Wall Street awaited the release of the U.S. jobs report for October.Apple reported slightly better-than-expected fiscal fourth-quarter earnings and revenue, but the tech company’s outlook for the first quarter—the holiday quarter—was short of Wall Street’s expectations. Fourth-quarter earnings of $1.46 a share topped estimates of $1.39, while revenue of $89.
Bill Holdings dropped 32% after the financial platform for small and midsize businesses issued a weak forecast for its fiscal second quarter and cut its full-year revenue forecast. For the fiscal second quarter, Bill said it expects revenue of between $293 million and $303 million, and earnings of 35 cents to 44 cents a share. Wall Street was estimating revenue of $319 million and profit of 48 cents a share.
Online travel agency Expedia said its board authorized a $5 billion stock buyback program and it reported better-than-expected third-quarter adjusted profit and revenue. Shares rose 11%. Paramount Global , the film, entertainment, and streaming company, reported third-quarter adjusted earnings that beat Wall Street expectations. Paramount said it “continues to progress on the path to streaming scale and profitability.” Shares rose 4.3%.
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