Paymentus Q2 Loss Widens; Sees FY Revenue Below View

Economist explains how the energy and health care bill will lower inflation

New York (CNN)Walmart (WMT) is laying off about 200 corporate employees, a person familiar with the matter told CNN, in a move that comes days after the retail giant issued a rare profit warning.

In a statement, Walmart confirmed it is “updating our structure and evolving select roles to provide clarity and better position the company for a strong future.”
Walmart, the largest US retailer, noted it is still investing and adding jobs in key areas such as e-commerce, advertising and supply chain.

    A person familiar with the matter told CNN the layoffs began this week.

      The job cuts come after Walmart last week cut its profit outlook for the second quarter and the remainder of the year, warning that high food and fuel costs have impacted how customers spend. Walmart said it has been forced to cut costs on various items, including apparel.

      Walmart also warned that it expects a slowdown in customer spending for general merchandise for the second half of the year.

      Opinion | The Republican Party Is the Anti-Democracy Party

      Send any friend a story

      As a subscriber, you have 10 gift articles to give each month. Anyone can read what you share.

      By Charles M. Blow

      Opinion Columnist

      Albemarle Q2 Profit Down

      Albemarle Corporation (ALB) Wednesday reported second-quarter profit of $406.8 million or $3.46 per share, down from $424.6 million or $3.62 per share last year.

      Adjusted earnings were $3.45 per share for the quarter, up from $0.89 per share last year.

      Net sales for the quarter surged 91.2% to $1.48 billion from $773.9 million last year.

      Analysts polled by Thomson Reuters expected earnings of $3.26 per share and revenues of $1.50 billion for the quarter.

      Looking forward to full year 2022, the company now expects adjusted earnings of $19.25 to $22.25 per share and revenues of $7.1 billion to $7.5 billion.

      Previously, the company expected adjusted earnings of $12.30 to $15.00 per share and revenues of $5.8 billion to $6.2 billion.

      Analysts currently estimate earnings of $13.65 per share on revenues of $6.00 billion for the full year 2022.

      For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

      Iamgold Corp. Q2 Loss Increases, misses estimates

      Iamgold Corp. (IMG.TO) revealed Loss for its second quarter that increased from last year and missed the Street estimates.

      The company’s earnings came in at -$9.6 million, or -$0.02 per share. This compares with -$4.5 million, or -$0.01 per share, in last year’s second quarter.

      Excluding items, Iamgold Corp. reported adjusted earnings of -$6.3 million or -$0.01 per share for the period.

      Analysts on average had expected the company to earn $0.02 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

      The company’s revenue for the quarter rose 25.8% to $334.0 million from $265.6 million last year.

      Iamgold Corp. earnings at a glance (GAAP) :

      -Earnings (Q2): -$9.6 Mln. vs. -$4.5 Mln. last year.
      -EPS (Q2): -$0.02 vs. -$0.01 last year.
      -Analyst Estimate: $0.02
      -Revenue (Q2): $334.0 Mln vs. $265.6 Mln last year.

      Opinion | The Anti-Abortion Movement Needs Minority Rule

      Send any friend a story

      As a subscriber, you have 10 gift articles to give each month. Anyone can read what you share.

      By Michelle Goldberg

      Opinion Columnist

      ‘Gone in the Night’ Review: Double-Booked and Double-Crossed

      In Eli Horowitz’s horror film, Winona Ryder plays a woman who sets out to solve the mystery of a jilting.

      Send any friend a story

      As a subscriber, you have 10 gift articles to give each month. Anyone can read what you share.

      By Lisa Kennedy

      When you purchase a ticket for an independently reviewed film through our site, we earn an affiliate commission.

      Marathon Oil Q2 Results Top Estimates

      Marathon Oil Corp. (MRO) reported second quarter 2022 net income of $966 million or $1.37 per share, up from $16 million or $0.02 per share in the prior year.

      Adjusted net income was $934 million or $1.32 per share compared to $173 million or $0.22 per share in the previous year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.26 per share for the quarter. Analysts’ estimates typically exclude special items.

      Total revenues and other income were $2.30 billion up from $1.14 billion in the prior year. Analysts expected revenue of $2.07 billion for the quarter.

      For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

      Paymentus Q2 Loss Widens; Sees FY Revenue Below View

      Paymentus Holdings Inc. (PAY) reported that its second quarter net loss attributable to common stock widened to $2.5 million or $0.02 per share from $323 thousand or break even per share in the previous year.

      PAY closed Wednesday regular trading at $18.11 up $1.49 or 8.97%. But in the after-hours trade, the stock dropped $2.76 or 15.24%.

      Non-GAAP net loss was $0.4 million or break even per share for the latest quarter.

      Revenue was $120.0 million, an increase of 28.3% from the second quarter of 2021.

      Analysts polled by Thomson Reuters expected the company to report earnings of $0.01 per share and revenues of $117.81 million for the second quarter. Analysts’ estimates typically exclude special items.

      Paymentus expects revenue for the full year 2022 to be between $485 million and $492 million or approximately 25% to 27% growth year-over-year. Analysts expect annual revenue of $495.05 million.

      Annual contribution profit is anticipated to be between $200 million and $204 million or 26% and 29% growth year-over-year.

      For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com