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Expedia beats profit estimates, announces $5 billion share buyback

Economic Times

Economic Times · 1y ago

Expedia beats profit estimates, announces $5 billion share buyback

Online travel booking company Expedia Group has announced a $5 billion share buyback plan following a better-than-expected quarterly profit. The company experienced a boost in demand for international travel, leading to resilient demand and higher rates, which increased margins. The rise in bookings during the Independence and Labor Day holiday weekend also contributed to its strong performance. Expedia's quarterly revenue rose 8.6% to $3.93 billion, surpassing estimates of $3.86 billion. Shares of the company rose by 10% after the announcement.

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Google parent announces first-ever dividend; beats on sales, profit; shares soar

Economic Times

Economic Times · 1y ago

Google parent announces first-ever dividend; beats on sales, profit; shares soar

Alphabet, the parent company of Google, announced its first-ever dividend and a $70 billion stock buyback, resulting in a surge in stock price by nearly 16%. The company plans to return capital to investors while investing heavily in data centers and artificial intelligence. The dividend will be 20 cents per share. This move follows similar announcements by competitors such as Meta, formerly known as Facebook. Alphabet reported better-than-expected sales, profit, and advertising metrics for the quarter, increasing its stock market value by over $300 billion to exceed $2 trillion.

Snapchat beats revenue and user growth estimates, announces $500 million buyback

Economic Times

Economic Times · 8m ago

Snapchat beats revenue and user growth estimates, announces $500 million buyback

Snap, the parent company of Snapchat, exceeded Wall Street's expectations in terms of quarterly revenue and user growth. The company has been successful in attracting advertisers back by improving its ad features. Snap also announced a share repurchase program worth up to $500 million. While Snap initially experienced a stock decline after the news, shares eventually rose to $12. The company has faced challenges from competitors like Facebook and Meta Platforms, but has invested in machine learning and made advertising on Snapchat more accessible to small and medium-sized businesses. In Q3, Snap's revenue reached $1.37 billion, surpassing the average analyst estimate. Snap anticipates Q4 revenue between $1.51 billion and $1.56 billion, and the company expects its new ad formats to boost demand from large advertisers. Daily active users grew by 9% YoY to 443 million, surpassing analyst estimates of 441 million. Snap also reported adjusted earnings per share of 8 cents, higher than the anticipated 5 cents.

Google parent Alphabet beats quarterly revenue estimates

Economic Times

Economic Times · 8m ago

Google parent Alphabet beats quarterly revenue estimates

Alphabet, the parent company of Google, reported better-than-expected third-quarter revenue thanks to strong growth in its digital advertising business and increased demand for its cloud services. Digital ad sales rose to $65.85 billion, while revenue from Google's cloud platform reached $11.35 billion, surpassing analysts' estimates. The company's profit of $2.12 per share also exceeded expectations. Overall, Alphabet experienced a 15% increase in revenue to $88.27 billion during the quarter.

Nike reports Q1 profit of $1.45 billion, beats estimates

Livemint

Livemint · 1y ago

Nike reports Q1 profit of $1.45 billion, beats estimates

Nike, the world's largest sportswear maker, reported a first-quarter profit of $1.45 billion, beating estimates. Despite missing revenue estimates, the company successfully reduced inventories and forecasted an increase in second-quarter gross margins. Nike plans to focus on running and modern comfort products to capitalize on consumer demand, as well as refresh its basketball shoe portfolio. While North America revenue fell, Nike's share price rose almost 10% in after-market trading.

EBay beats earnings estimates on strong US holiday spending

Economic Times

Economic Times · 1y ago

EBay beats earnings estimates on strong US holiday spending

eBay reported better-than-expected quarterly revenue and profit due to strong consumer spending during the holiday season. The company experienced growth in categories such as refurbished goods and auto parts, and its marketplace is expected to benefit from increased consumer spending. However, eBay CEO Jamie Iannone noted weaknesses in the UK and Germany, highlighting negative e-commerce growth in the latter. The company also announced a $2 billion share repurchase program. Despite job cuts and uncertainties in the economy, eBay's performance surpassed estimates with a revenue of $2.56 billion and adjusted profit per share of $1.07.

China's JD.com announces $5 billion share buyback plan

Economic Times

Economic Times · 10m ago

China's JD.com announces $5 billion share buyback plan

Chinese e-commerce giant JD.com has announced a new $5 billion share repurchase program, allowing the company to buy back its stock over the next three years. This move comes as JD.com and rival Alibaba aim to ease investor concerns about the sluggish Chinese retail market. In premarket trading, JD.com's US-listed shares jumped 5.1%. This is the second share buyback announcement for JD.com this year, following a $3 billion repurchase in March. Chinese consumers have been hesitant to spend due to economic slowdown, leading JD.com to offer discounts and promotions to stay competitive.

Flipkart announces new ESOP liquidity worth $50 Mn

Entrackr

Entrackr · 4d ago

Flipkart announces new ESOP liquidity worth $50 Mn

Flipkart announces new ESOP liquidity worth $50 Mn This announcement follows Flipkart’s record $700 million payout to employees in 2023, one of the largest ESOP buyback events in Indian startup history. Flipkart has announced a fresh ESOP (Employee Stock Option Plan) liquidity opportunity for its employees, according to an internal note from the company’s chief executive officer Kalyan Krishnamurthy. As per the note, eligible employees will be allowed to liquidate up to 5% of their vested ESOPs as of July 5, 2025, at a buyback price of $174.32 per option. Payouts will be made in August 2025 under the Flipkart Stock Option Plan 2012. An ET report estimates the size of the ESOP buyback at $50 million, with 7,000 to 7,500 employees expected to benefit from the liquidity program. Flipkart is currently valued at around $36 billion. Krishnamurthy also added that if key performance goals are met by the end of 2025, another 5% liquidity window could open in early 2026. A Flipkart spokesperson confirmed the development to Entrackr. This announcement follows Flipkart’s record $700 million payout to employees in 2023, one of the largest ESOP buyback events in Indian startup history. Media reports indicate the firm plans to launch its IPO with a valuation of $60-$70 billion. The company’s board has already approved the process to shift its holding structure from Singapore to India. In 2025, a clutch of startups including Darwinbox, Rapido, Univest, Deserve, and Even Healthcare have implemented ESOP buyback, liquidity, and payout programs worth around $67 million. In 2024, more than 20 startups implemented $200 million. According to startup data intelligence platform TheKredible, the ESOP buyback or liquidity amount stood at $802 million in 2023, $440 million in 2021, and $200 million in 2022.

Zoom share price rallies 10% on Q4 result beat; share buyback announced

Livemint

Livemint · 1y ago

Zoom share price rallies 10% on Q4 result beat; share buyback announced

Zoom's share price surged more than 10% in after-hours trading following the company's better-than-expected quarterly results. The video-conferencing provider reported an adjusted profit of $1.42 per share and revenue of $1.15 billion, beating analysts' estimates. Zoom also announced a stock buyback of up to $1.5 billion. The company's Enterprise revenue increased 4.9%, while online sales decreased slightly. Zoom plans to focus on its AI companion feature and customization to drive growth. Despite missing out on the market rally, Zoom's stock price has risen significantly.

Chinese ecommerce giant JD beats estimates for quarterly profit

Economic Times

Economic Times · 11m ago

Chinese ecommerce giant JD beats estimates for quarterly profit

Chinese e-commerce giant JD.com reported better-than-expected quarterly profit, driven by a mid-year sales festival and aggressive price cuts. Competing with other major vendors like Alibaba, JD.com has focused on discounting and offering lower-priced goods to attract cost-sensitive consumers. The company's second-quarter profit, excluding certain items, increased by 73.7% to 9.36 yuan per share, surpassing estimates of 6.07 yuan. JD.com's revenue rose 1.2% to 291.40 billion yuan in the quarter. The company's performance reflects the increasing competition and the need for retailers to rely on discounting events to drive growth.

In slow December quarter, TCS beats Infosys

Livemint

Livemint · 1y ago

In slow December quarter, TCS beats Infosys

Tata Consultancy Services (TCS) has outperformed Infosys in the December quarter as its revenue rose by 1% sequentially, beating profit estimates. A significant portion of TCS's growth was driven by a large contract with BSNL. However, both TCS and Infosys are at risk of registering their slowest annual growth due to the global economic slowdown. Additionally, the combined workforce of both companies declined by 11,781 employees during the quarter. TCS reported a revenue of $7.28 billion and a net profit of $1.41 billion, while Infosys reported revenue of $4.66 billion and a net profit of $733 million.

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