Results for: Revenue Miss

Starbucks reported a dismal fiscal second quarter, sending its shares tumbling by 11.5%. Revenue fell short of expectations, and earnings per share missed estimates by a significant margin. The company also slashed its outlook for fiscal 2024, citing persistent challenges such as sluggish store traffic, a cautious consumer, and severe weather. Comparable store sales in North America plummeted by 3%, while international sales dropped by 6%. Management highlighted plans to improve operations, introduce new products, and target occasional customers to address these headwinds.

Intel Corporation (NASDAQ: INTC) announced its first-quarter earnings results, missing analyst estimates for both earnings per share (EPS) and revenue. The company reported an EPS of $-0.09, $0.24 below the consensus estimate of $0.15. Revenue for the quarter came in at $12.72 billion, compared to the consensus estimate of $12.88 billion.

Enterprise workflow software provider Pegasystems (NASDAQ: PEGA) reported its Q1 CY2024 results, falling short of analysts’ expectations. Revenue declined by 1.4% year on year to $330.1 million, while key metrics such as annual contract value (ACV) and remaining performance obligations (RPO) also missed estimates. Despite posting a non-GAAP profit of $0.48 per share, up from $0.23 per share in the same quarter last year, the underwhelming revenue and key metric performance have dampened the outlook for the company.

Bedding manufacturer Sleep Number (SNBR) reported a disappointing first quarter in fiscal 2024, with revenue falling short of expectations and a GAAP loss per share. Despite posting a beat on gross margin, the company’s same-store sales declined by 11% year-over-year. Analysts have lowered their revenue projections for the next 12 months, and the stock has seen a modest increase in after-hours trading.

IBM has agreed to acquire cloud software provider HashiCorp for $35 per share in cash, valuing the deal at $6.4 billion net of cash. The acquisition is expected to be accretive to IBM’s earnings and cash flow in the future. However, IBM’s first-quarter revenue fell short of analysts’ estimates, marking the third revenue miss in the past five quarters. Revenue from software, consulting, and infrastructure services all came in below expectations, despite an increase in overall revenue of around 1.5% year-over-year. IBM shares dipped 3% in extended trading after the announcement.

AT&T reported first-quarter financial results that missed revenue expectations but exceeded earnings estimates. The company’s operating revenues declined slightly year over year, attributed to lower Mobility equipment and Business Wireline revenues. However, AT&T’s Mobility segment reported strong wireless net additions and postpaid churn reduction. The Consumer Wireline segment also saw significant growth in AT&T Fiber net adds. Despite the revenue decline, AT&T’s adjusted EBITDA increased, and the company generated higher operating and free cash flow. The stock price rose in premarket trading following the earnings announcement. AT&T remains focused on its core communications services business and has raised its dividend yield to 6.73%.

Boeing reported a first-quarter EPS of $-1.13, outperforming analyst estimates by $0.50. Revenue came in at $16.57B, slightly below consensus estimates of $16.5B. Boeing’s stock price closed at $169.08, reflecting a decline of 17.71% in the past three months and 16.38% over the past year.

AT&T Inc. (NYSE:T) posted a mixed set of financial results for the first quarter of 2023, with earnings per share (EPS) exceeding analysts’ expectations but revenue falling short. The company reported EPS of $0.55, surpassing the consensus estimate of $0.53. However, revenue for the quarter came in at $30 billion, below the $30.53 billion anticipated by analysts.

Toy manufacturing and entertainment company Mattel (NASDAQ: MAT) reported mixed results for the first quarter of fiscal year 2024, falling short of analysts’ revenue estimates while exceeding earnings expectations.

Revenue remained flat at $809.5 million, missing the consensus estimate of $832.9 million. However, the company surprised analysts by posting a GAAP loss of $0.08 per share, significantly improving upon its loss of $0.30 per share in the same period last year. This translates to a 41.8% beat on earnings estimates of -$0.14 per share.

The company’s full-year EPS guidance remained unchanged at $1.40, in line with expectations.

Polaris (NYSE:PII) reported disappointing results for the first quarter of fiscal 2024, with revenue falling 20.9% year over year to $1.74 billion and earnings per share (EPS) dropping sharply to $0.07 from $1.95 in the same quarter last year. The company’s free cash flow also turned negative, with a cash burn of $177.5 million compared to a positive $448.9 million in the previous quarter.