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By Alexis Soloski
Broadcom Limited Q3 Profit Increases, beats estimates
Broadcom Limited (AVGO) released earnings for its third quarter that increased from last year and beat the Street estimates.
The company’s earnings came in at $3.07 billion, or $7.15 per share. This compares with $1.88 billion, or $4.20 per share, in last year’s third quarter.
Excluding items, Broadcom Limited reported adjusted earnings of $4.24 billion or $9.73 per share for the period.
Analysts on average had expected the company to earn $9.56 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter rose 24.8% to $8.46 billion from $6.78 billion last year.
Broadcom Limited earnings at a glance (GAAP) :
-Earnings (Q3): $3.07 Bln. vs. $1.88 Bln. last year.
-EPS (Q3): $7.15 vs. $4.20 last year.
-Analyst Estimate: $9.56
-Revenue (Q3): $8.46 Bln vs. $6.78 Bln last year.
Next quarter revenue guidance: about $8.9 bln
Eurozone Jobless Rate At Record Low
The euro area jobless rate fell to a historic low in July despite fears of recession, data released by Eurostat revealed on Thursday.
The jobless rate fell to a seasonally adjusted 6.6 percent from revised 6.7 percent in June. In the same period last year, the rate was 7.7 percent.
The unemployment rate was forecast to remain unchanged at June’s initially estimated 6.6 percent.
The number of people out of work decreased 77,000 from June to 10.983 million. Compared with July 2021, unemployment declined 1.576 million.
The youth unemployment rate was 14.2 percent in July versus 14.4 percent in June.
The region faces a difficult winter and recession looms, Jessica Hinds, an economist at Capital Economics, said. So the jobless rate is likely to rise from here, even if short-time working schemes cushion the blow.
The EU unemployment rate came in at 6.0 percent in July, down from 6.1 percent in June. The jobless rate among young people aged below 25 dropped to 14.0 percent from 14.2 percent a month ago.
Pizza John’s Recalls Pepperoni Pizza Products
Essex, Maryland -based Pizza John’s is recalling around 156,498 pounds of pepperoni pizza products that were produced without the benefit of federal inspection, the U.S. Department of Agriculture’s Food Safety and Inspection Service or FSIS announced.
The products subject to recall include 33.25-oz. clear plastic wrapped packages containing “PIZZA JOHN’S BAKE AT HOME 12 Inch Pepperoni Pizza” with UPC code 9589334921; and 57-oz. clear plastic wrapped packages containing “PIZZA JOHN’S BAKE AT HOME 16 Inch Pepperoni Pizza” with UPC code 958939019.
The frozen pepperoni pizza products were produced and distributed into commerce on dates from March 2020 through July 28, 2022. These items were shipped to retail locations in Maryland.
The affected products do not bear the USDA mark of inspection because Pizza John’s is not a federally inspected establishment.
The recall was initiated after FSIS, during routine surveillance activities, determined that the pepperoni pizza products did not have the USDA mark of inspection and were produced in an establishment that was not inspected by USDA.
However, there have been no confirmed reports of adverse reactions due to consumption of these products to date.
FSIS is concerned that some product may be in consumers’ freezers, and urged them to throw the products away or return to the place of purchase.
For More Such Health News, visit rttnews.com
PagerDuty, Inc. Q2 Loss Increases, but beats estimates
PagerDuty, Inc. (PD) reported Loss for its second quarter that increased from the same period last year and missed the Street estimates.
The company’s bottom line totaled -$38.5 million, or -$0.44 per share. This compares with -$29.7 million, or -$0.35 per share, in last year’s second quarter.
Excluding items, PagerDuty, Inc. reported adjusted earnings of -$0.04 per share for the period.
Analysts on average had expected the company to earn -$0.08 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter rose 33.8% to $90.3 million from $67.5 million last year.
PagerDuty, Inc. earnings at a glance (GAAP) :
-Earnings (Q2): -$38.5 Mln. vs. -$29.7 Mln. last year.
-EPS (Q2): -$0.44 vs. -$0.35 last year.
-Analyst Estimate: -$0.08
-Revenue (Q2): $90.3 Mln vs. $67.5 Mln last year.
Next quarter EPS guidance: -$0.04 to – $0.03
Next quarter revenue guidance: $92-$94 mln
Full year EPS guidance: -$0.12 to – $0.10
Full year revenue guidance: $365-$370 mln
UPPAbaby Recalls All-terrain RIDGE Jogging Strollers After Child’s Fingertip Amputation
UPPAbaby has recalled about 14,400 all-terrain RIDGE jogging strollers after a child’s fingertip got amputated.
According to Consumer Product Safety Commission, the stroller’s rear disc brakes have openings that can cause amputation or laceration if a non-occupant child’s fingertip gets caught in the openings while the stroller is in use.
The company said it received one reported incident, resulting in a fingertip amputation to a child who was not in the stroller while in use.
The recall involves all UPPAbaby all-terrain RIDGE jogging strollers, which have an extendable canopy with a mesh window and zipper pocket, disc hand brake system and an adjustable handlebar with a wrist strap. The brand UPPAbaby is on the front of the stroller, and RIDGE is on the side of the stroller frame. The strollers have a black frame and a fabric color scheme that is white, charcoal, or slate blue and have black tires.
The company has asked its customers to immediately stop using the recalled strollers and contact UPPAbaby to receive free replacement brake discs for both wheels.
The recalled product were sold at BuyBuyBaby, Nordstrom, Neiman Marcus, Pottery Barn Kids and other children’s stores and specialty stores nationwide and online at Amazon from October 2021 through August 2022 for about $600.