Qantas falls to $1.08b half-year loss on COVID-19 pain
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Qantas dived to a $1.08 billion loss in the six months to December 31 after the COVID-19 pandemic and border closures forced the airline to ground most of its fleet.
Revenue was 75 per cent lower compared to the same half last year at $2.3 billion, as the number of passengers it carried fell by 83 per cent.
Qantas planes grounded at Melbourne’s Avalon Airport in April. Credit:Jason South
“These figures are stark but not surprising,” Qantas chief executive Alan Joyce said.
“During the half we saw the second wave in Victoria and the strictest domestic travel restrictions since the pandemic began. Virtually all of our international flying and 70 per cent of domestic flying stopped, and with it went three-quarters of our revenue.”
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NVIDIA Corporation Q4 adjusted earnings Beat Estimates
NVIDIA Corporation (NVDA) reported a profit for its fourth quarter that advanced from last year.
The company’s bottom line totaled $1.46 billion, or $2.31 per share. This compares with $0.95 billion, or $1.53 per share, in last year’s fourth quarter.
Excluding items, NVIDIA Corporation reported adjusted earnings of $1.96 billion or $3.10 per share for the period.
Analysts had expected the company to earn $2.81 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter rose 60.8% to $5.00 billion from $3.11 billion last year.
NVIDIA Corporation earnings at a glance:
-Earnings (Q4): $1.96 Bln. vs. $1.17 Bln. last year.
-EPS (Q4): $3.10 vs. $1.89 last year.
-Analysts Estimate: $2.81
-Revenue (Q4): $5.00 Bln vs. $3.11 Bln last year.
Ansys Inc Q4 adjusted earnings Beat Estimates
Ansys Inc (ANSS) reported earnings for its fourth quarter that climbed from the same period last year.
The company’s earnings came in at $215.63 million, or $2.46 per share. This compares with $165.85 million, or $1.91 per share, in last year’s fourth quarter.
Excluding items, Ansys Inc reported adjusted earnings of $259.70 million or $2.96 per share for the period.
Analysts had expected the company to earn $2.54 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter rose 28.3% to $623.69 million from $486.23 million last year.
Ansys Inc earnings at a glance:
-Earnings (Q4): $259.70 Mln. vs. $194.71 Mln. last year.
-EPS (Q4): $2.96 vs. $2.24 last year.
-Analysts Estimate: $2.54
-Revenue (Q4): $623.69 Mln vs. $486.23 Mln last year.
Next quarter EPS guidance: $0.73 – $0.90
Next quarter revenue guidance: $335 – $360 Mln
Dow ends at record on dovish Fed, vaccine progress
NEW YORK (AFP) – The Dow finished at a fresh record on Wednesday (Feb 24), shaking off early weakness following dovish comments from the Federal Reserve chief and progress on another coronavirus vaccine.
The Dow Jones Industrial Average jumped 1.4 per cent to close at 31,961.86, a new all-time high.
The broad-based S&P 500 gained 1.1 per cent end at 3,925.42, while the tech-rich Nasdaq Composite Index advanced 1 per cent to 13,597.97 after two days of declines.
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GameStop spikes 104% in late-day surge as buying frenzy resumes
Stephen Brashear/Invision for Nintendo/AP Images
- GameStop shares jumped 104% in the final hour of trading on Wednesday.
- The sudden surge was met with multiple trading halts due to volatility.
- GameStop was back in focus with news about the chief financial officer’s resignation.
- Visit the Business section of Insider for more stories.
GameStop’s share price more than doubled in the final 30 minutes of trading on Wednesday as the buying frenzy that sent the stock skyrocketing in late January found renewed life.
The stock closed 104% higher, at $91.71, following a period in which trading was halted multiple times because of volatility.
GameStop was in focus following the news on Tuesday of Jim Bell’s resignation as the chief financial officer. Sources told Insider on Wednesday that Bell was forced to resign by the company’s board as part of a push by the activist investor and new board member Ryan Cohen to reshape the ailing retailer.
Wednesday’s wild final 30 minutes were reminiscent of the Reddit-driven buying spree that engulfed the stock in late January, pushing it to a dizzying all-time high of $483, up 2,464% year-to-date.
The day traders on Reddit had made it their express mission to squeeze short positions on GameStop stock, and their success resulted in massive losses for hedge funds and a congressional hearing.
Kraton Corp. Q4 adjusted earnings Beat Estimates
Below are the earnings highlights for Kraton Corp. (KRA):
-Earnings: -$21.01 million in Q4 vs. -$22.11 million in the same period last year.
-EPS: -$0.69 in Q4 vs. -$0.67 in the same period last year.
-Analysts projected $0.14 per share
-Revenue: $406.76 million in Q4 vs. $408.52 million in the same period last year.