Latest news with #RevenueForecast
Reuters
13 hours ago
- Business
- Reuters
Micron Technology raises fourth-quarter results forecast
Aug 11 (Reuters) - Memory chipmaker Micron Technology (MU.O), opens new tab on Monday raised its forecast for fourth-quarter revenue and adjusted profit. The company now expects revenue of $11.2 billion, plus or minus $100 million, compared with its previous forecast of $10.7 billion, plus or minus $300 million. It expects adjusted earnings per share of $2.85, plus or minus 7 cents, compared with its earlier expectation of $2.50, plus or minus 15 cents.
Yahoo
5 days ago
- Business
- Yahoo
Airbnb forecasts quarterly revenue above estimates; plans $6 billion share buyback
(Reuters) -Vacation rentals company Airbnb forecast third-quarter revenue above Wall Street estimates on Wednesday and announced a new share repurchase program worth $6 billion. Growth of nights booked in the U.S. accelerated each month throughout the quarter ended June, driven by domestic travel, San Francisco-based Airbnb said, adding that it was encouraged by the trend for the current quarter. Several travel firms, like United Airlines and Wyndham Hotels, saw a recovery in U.S. travel demand after a slowdown in April, when consumers initially pulled back spending due to President Donald Trump's shifting trade policy. Airbnb's average daily rates, or the average cost per night, in North America rose 3% in the quarter, driven by strong demand for higher-priced listings. This trend is consistent with other travel companies, including hotel operator Marriott, where bookings for upscale properties and premium offerings helped offset weak demand in the budget segment. Excluding the impact of foreign exchange, ADR in Q2 2025 increased 1% and was up across all regions, largely due to price appreciation, the company said. Nights and seats booked, an updated metric which includes the number of services booked, on Airbnb's platform rose 7% in the second quarter, while gross booking value increased 11% to $23.5 billion. Airbnb expects third quarter revenue between $4.02 billion to $4.10 billion, the midpoint of which is higher than higher than analysts' average estimate of $4.05 billion, according to data compiled by LSEG. However, the company cautioned that despite stronger night bookings in North America, growth could moderate given tougher year-over-year comparisons in the third and fourth quarters. It expects the implied take rate, or the ratio of revenue to gross bookings, to remain flat in the third quarter. The travel company posted a per-share profit of $1.03 compared to 86 cents in the same period last year.
Yahoo
30-07-2025
- Business
- Yahoo
Invisalign maker Align Technology cuts annual revenue forecast on weak demand
(Reuters) -Teeth aligner maker Align Technology on Monday cut its annual revenue growth forecast as macroeconomic uncertainties weighed on demand for its dental products, sending the company's shares about 30% lower in extended trading. The company, which makes Invisalign teeth aligners and other dental products, now expects 2025 revenue growth to be flat to slightly up from 2024, compared with its earlier forecast range of 3.5% to 5.5%. "Recent dental industry surveys for the second quarter suggest there was less overall patient traffic, fewer orthodontic case starts, and patient hesitation toward elective procedures," President and CEO Joe Hogan said in a statement. "As we begin the third quarter and plan for the remainder of the year, our outlook anticipates the potential continued economic uncertainty and spending hesitancy that impacted demand for our clear aligners and new iTero scanner systems in the second quarter." The company said it expects to realign certain business groups and reduce its global workforce, but did not give details on the job cuts. It also plans to optimize its manufacturing footprint by increasing automation and regionalize manufacturing to be closer to its customers, the company said. It expects to incur one-time charges of about $150 million to $170 million in the second half of 2025. Align Technology reported revenue of $1.01 billion, down 1.6% from last year and below analysts' estimates of $1.06 billion, according to data compiled by LSEG. The Tempe, Arizona-based company, expects its third-quarter revenue to range between $965 million to $985 million, the mid-point of which was below analysts' estimates of $1.04 billion. On an adjusted basis, the company earned $2.49 per share for the quarter ended March 31, compared with estimates of $2.57 per share.
Reuters
24-07-2025
- Business
- Reuters
UK's Reckitt raises revenue outlook after second quarter beats expectations
July 24 (Reuters) - Consumer goods company Reckitt (RKT.L), opens new tab raised its annual revenue forecast on Thursday after second-quarter net sales growth topped expectations as strength in emerging markets offset weakness in North America and Europe. Shares jumped 10% to their highest level since early 2024 and were headed for their biggest one-day percentage gain since 2000. Reckitt, the maker of Durex condoms and Lysol cleaning products, is pivoting to focus on its 11 so-called "power brands" under CEO Kris Licht, as the sector grapples with weak demand and intense competition. The company reported like-for-like quarterly net revenue growth of 1.9%, compared with 1.7% forecast in a company-compiled consensus. Reckitt also announced a new share buyback programme of 1 billion pounds over the next 12 months. Growth in North America and Europe fell short of expectations, dragged by a challenging consumer backdrop and the expected shelf reset of its flu relief medicine Mucinex due to reformulation. But strong sales in China, India and Latin America made up for weakness in those key markets. Among Reckitt's other well-recognised brands are Strepsils throat lozenges and Harpic bathroom cleaning products. "We delivered excellent growth in emerging markets and navigated a challenging consumer environment in our developed markets," Licht said in a statement. Reckitt raised its 2025 like-for-like net revenue growth forecast for its core business to above 4%, from between 3% and 4% expected earlier. It now expects overall group like-for-like net revenue growth between 3% and 4% for the year, compared with an earlier forecast of 2% to 4% growth. The company last week sold a majority stake in its Essential Home business to private equity firm Advent for $4.8 billion. It is also looking at strategic options for its Mead Johnson division, which is the subject of a number of baby formula lawsuits in the U.S. Reckitt posted operating profit of 1.71 billion pounds ($2.32 billion) for the six months ended June 30, beating analysts' average expectations of 1.66 billion pounds. ($1 = 0.7368 pounds)
Yahoo
23-07-2025
- Business
- Yahoo
United Rentals raises annual revenue forecast, misses quarterly profit estimates
(Reuters) -Equipment rental company United Rentals raised its annual revenue forecast on Wednesday but reported second-quarter profit below Wall Street estimates. The Stamford, Connecticut-based company benefited from construction end markets - infrastructure and non-residential, driven by robust spending on national megaprojects. However, an inflationary environment and rising costs further pressured company's margins, affecting profitability during the quarter. United Rentals now expects full-year revenue between $15.8 billion and $16.1 billion, up from its previous projection of $15.6 billion to $16.1 billion. The company said that it has raised its planned share repurchases for 2025 by $400 million, bringing the total to $1.9 billion. United Rentals reported an adjusted profit of $10.47 per share for the quarter ended June 30, missing analysts' average estimate of $10.54 per share, according to data compiled by LSEG. Total revenue for the quarter was $3.94 billion, compared to analysts' expectations of $3.9 billion. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
