- Microsoft tops Q2 2022 revenue results
- General electric is splitting its business into three public firms
- Texas Instruments jumps on quarterly earnings beat as Verizon dips despite solid results
Microsoft reports revenue of $51.73 billion in Q2 2022
Microsoft Corp (NASDAQ: MSFT) shares were down 5% in extended trading despite the company reporting record fiscal Q2 2022 sales of more than $50 billion. The company topped analysts' earnings estimates.
The tech giant reported earnings of $18.8 billion or $2.48 per share on revenue of $51.73 billion, representing a YoY increase of 20%. Wall Street analysts had expected earnings of $2.32 per share on revenue of $50.71 billion.
Texas Instruments tops Q4 2021 earnings estimates
Texas Instruments Inc. (NASDAQ: TXN) shares were up 5% in after-hours trading after the company reported Q4 results that topped estimates according to the company net income during the quarter was $2.14 billion or $2.27 per share relative to top net income of $1.69 billion or $1.8 per share in the same quarter a year ago.
The semiconductor company reported revenue of $4.83 billion, representing a 19% YoY increase. Analysts had predicted EPS of $195 on revenue of $4.43 billion.
Verizon dips despite a Q4 earnings beat
Verizon Communications Inc. (NYSE: VZ) shares are still under pressure despite the company reporting solid Q4 2021 results. The company indicated that its revenue was up 4.5% YoY to $34.1 billion, beating estimates marginally.
Equally, non-GAAP earnings beat estimates by $0.03, with the company reporting EPS of $1.31. wireless revenue was up 6.5% to $17.8 billion.
General electric is splitting its business
General Electric (NYSE: GE) shared dipped almost 10% on Tuesday despite the company reporting better than anticipated fourth-quarter results. Shortly after confirming plans to split the company into three independent publicly-listed entities, the company released the earnings.
Three of GE's four businesses had revenue declines in Q4, owing to supply bottlenecks, regulatory uncertainty, inflationary pressures, and commercial selectivity.
Steel Dynamic rebounds on earnings release
Steel Dynamics Inc. (NASDAQ: STLD) started the week with fanfare, with the stock rebounding alongside other struggling steel equities. The company reported its earnings claiming that there are clear signs of solid demand this year but didn't highlight on steel pricing projection.
It is vital to note that sustainability of the stock’s price movement in the near term based on the earnings released and future guidance will depend on the management’s discussion of the earnings.
