Nestle India, the Indian arm of Swiss food giant Nestle, reported a strong financial performance for the three months ended March 31, 2024 (Q4 FY24). The company’s net profit surged by 26.73% year-on-year to Rs 934 crore, while revenue from operations climbed 9.05% to Rs 5,268 crore. This growth was driven by a combination of pricing actions and a strong performance across the company’s product portfolio.
Ford Motor (F) has released its financial results for the first quarter of 2024. The company surpassed analyst expectations, reporting earnings per share (EPS) of 49 cents, exceeding the estimated 42 cents. Ford’s revenue, however, fell slightly short of the analysts’ forecast, coming in at $39.89 billion compared to the estimated $40.10 billion.
Meta Platforms, the parent company of Facebook, Instagram, and WhatsApp, reported financial results for the first quarter of 2024 that surpassed analyst expectations. Earnings per share reached $4.71, outperforming the anticipated $4.32 EPS. Revenue also exceeded estimates, reaching $36.46 billion compared to the projected $36.16 billion.
IBM has released its financial results for the first quarter of 2024, exceeding analysts’ expectations. The company reported earnings per share (EPS) of $1.68, surpassing the estimated $1.60 EPS. However, revenue came in slightly below estimates, with reported revenue of $14.46 billion compared to the anticipated $14.55 billion.
Chipotle Mexican Grill (NYSE:CMG) reported impressive financial results for the first quarter of 2024. The company exceeded analyst estimates for both earnings per share (EPS) and revenue.
Meta Platforms delivered a strong first quarter, surpassing estimates for revenue, earnings, and cash flow. However, guidance concerns, including a conservative revenue outlook and increased capital expenditures, overshadowed the positive results, sending shares tumbling in after-hours trading. Despite the post-earnings sell-off, analysts maintain a bullish outlook, citing Meta’s dominance in targeted advertising and its potential to lead in artificial intelligence (AI) and other emerging technologies.
ICON Plc (ICLR) has revised its 2024 outlook, adjusting revenue and adjusted EPS ranges. Revenue is now projected to be $8.48B-$8.72B, while adjusted EPS is expected to be $14.65-$15.15. In Q1 2024, ICON reported a miss on diluted EPS but met revenue expectations. Net income grew by ~61% year-over-year to ~$187.4M, with diluted EPS at $2.25 compared to $1.41 in Q1 2023. Despite the EPS miss, ICON’s acquisition of PRA continues to generate synergies, impacting the company’s overall performance.
BioMarin Pharmaceutical (BMRN) released updated 2024 guidance with its Q1 2024 financial results, boosting non-GAAP diluted EPS range while maintaining revenue expectations. Non-GAAP EPS guidance was raised to $2.75-$2.95 from $2.60-$2.80, with consensus at $2.75. Revenue is still projected at $2.7B-$2.8B, meeting consensus of $2.76B. Despite missing revenue estimates in Q1, the company beat on earnings, with Vimizim and Voxzogo driving growth.
Meta’s stock dropped significantly in after-hours trading despite reporting strong financial results for the first quarter. The company exceeded analysts’ expectations with revenue growth of 30% and a doubling of profits. However, investors were concerned about the company’s outlook for the next quarter, which predicted lower revenues than analysts had anticipated. Despite the recent drop, Meta’s stock has performed well over the past year, doubling in value.
Western Union Company reported strong first-quarter results, surpassing analyst expectations for earnings and revenue. The company attributed the positive performance to the growth of its digital business and the stabilization of its retail segment. Western Union raised its full-year 2024 revenue and EPS guidance, reflecting its optimism about the remainder of the year.
