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Max Knoblauch

Alaska Air drops after Q3 profit missed expectations and an IT outage grounded its flights across the US

A bad news twofer is driving Alaska Airlines lower in premarket trading Friday, following the airline’s Q3 earnings report after the close on Thursday.

Alaska Air posted adjusted diluted earnings of $1.05 per share, below Wall Street’s expectation of $1.09.

Last month, ALK warned that elevated fuel costs and factors like weather and air traffic control issues would put its results toward the lower end of its EPS guidance. At the time, analysts had been expecting the carrier to post earnings of $1.35 per share. In its report, Alaska Air posted $3.62 billion in operating expenses, up 32% from last year.

The airline did beat on revenue, reporting $3.77 billion in sales in the quarter, representing a 23% jump from the same period last year.

Adding to negative sentiment around the stock was a tech outage that grounded Alaska’s flights across the US for several hours on Thursday, leading to 229 cancellations. The outage forced the airline to postpone its earnings call.

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Luke Kawa
4h
Qualcomm spikes despite poor forecast, citing progress with “leading hyperscaler” and an imminent return to growth in China

Qualcomm, a chip company seemingly left behind in AI, is trying to lean in more to the boom.

A crowd of visitors at the Qualcomm ( Qualcomm is an...
markets
Max Knoblauch

Ford raises its full-year guidance, receives $1.3 billion tariff refund

Ford reported its first-quarter results after markets closed on Wednesday. The automaker’s shares climbed roughly 7% in after-hours trading on the news.

For Q1, Ford reported:

  • Adjusted earnings of $0.66 per share, compared to the $0.18 per share expected by Wall Street analysts polled by FactSet. The figure includes Ford’s tariff reimbursement.

  • $43.25 in total revenue, vs. the $42.66 billion consensus forecast. Automotive revenue came in at $39.8 billion, compared to estimates of $38.9 billion.

  • A $1.3 billion tariff refund.

Ford boosted its full-year guidance for adjusted earnings before interest and taxes to between $8.5 billion and $10.5 billion, up from between $8 billion and $10 billion.

Late last year, Ford announced it would take $19.5 billion in charges — one of the largest write-downs ever — relating mostly to its EV business. Of those charges, $7 billion will be spread across this year and next, the company said.

Earlier this month, Ford recorded an 8.8% drop in Q1 sales from the same period last year, a similar result to Detroit rival GM, which posted a 9.7% sales drop.

markets
Jon Keegan

Microsoft beats on revenue and earnings in Q3, but only meets expectations for cloud growth

Microsoft shares dipped after the company reported strong Q3 earnings postmarket Wednesday, posting ​​sales of $82.9 billion for the quarter, beating FactSet analyst estimates of $81.4 billion. Earnings per share were $4.27, handily beating estimates of $4.05. 

In a closely watched number, Microsoft’s Azure cloud business increased 40% year on year, just above the 39.7% estimated. The metric technically beat expectations, but may not be the beat investors were looking for.

Total capital expenditure for the quarter was $31.9 billion, up 49% year on year, above estimates of $27.5 billion and down from Q2’s $37.5 billion.

One thing investors were eager to find out: how is the company doing in its effort to fulfill the billions in backlogged commercial bookings? Last quarter, the company reported a staggering $625 billion in remaining performance obligations, and 45% of that was for just one customer — OpenAI.

For the third quarter, Microsoft reported a backlog of $627 billion, up 99% year on year. The company said the RPO increase was 26% — in line with “historical seasonality” — when excluding OpenAI.

Breaking down the results by the company’s business lines:

  • ☁️ 🤖 Intelligent Cloud (Azure, server products): $34.7 billion in revenue, up 30% year on year.

  • 📝 📊 Productivity and Business Processes (Microsoft 365, LinkedIn, Dynamics): $35 billion in revenue, up 17% year on year.

  • 💻 🎮 More Personal Computing (Windows, Xbox, Bing): $13.2 billion in revenue, down 1% year on year.

Microsoft CFO Amy Hood said in the earnings release:

“We delivered results that exceeded expectations across revenue, operating income, and earnings per share, reflecting strong execution and growing demand for the Microsoft Cloud.”

Max Knoblauch
5h
Carvana reports better-than-expected Q1 sales, gross profit per vehicle

Carvana reported its first-quarter earnings after markets closed on Wednesday.

Carvana In Arizona
Luke Kawa
5h
Amazon reports strong Q1 results with mixed Q2 guidance

The e-commerce and cloud giant just released quarterly results.

Amazon Delivery Truck

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