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Google Parent Alphabet Q2 Profit, Revenues Beat Street View

Ameren Corp Bottom Line Advances In Q2

Ameren Corp (AEE) revealed a profit for its second quarter that increased from the same period last year.

The company’s earnings came in at $243 million, or $0.98 per share. This compares with $179 million, or $0.72 per share, in last year’s second quarter.

Analysts had expected the company to earn $0.87 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 1.4% to $1.40 billion from $1.38 billion last year.

Ameren Corp earnings at a glance:

-Earnings (Q2): $243 Mln. vs. $179 Mln. last year.
-EPS (Q2): $0.98 vs. $0.72 last year.
-Analysts Estimate: $0.87
-Revenue (Q2): $1.40 Bln vs. $1.38 Bln last year.

-Guidance:
Full year EPS guidance: $3.40 to $3.60

U.S. equity funds post $6.1 billion weekly outflow -Lipper

Aug 6 (Reuters) – U.S.-based stock funds in the week ended Wednesday posted a $6.1 billion outflow, according to Lipper.

U.S. taxable bond funds attracted $9.2 billion, the seventeenth straight weekly inflow, and money market funds shed $216 million in the latest week, Lipper data showed on Thursday. (Reporting by Alden Bentley)

Jeff Bezos Sells About $3 Bln Of Amazon Stock

Jeff Bezos, the founder and CEO of Amazon.com Inc. (AMZN), has sold $3.1 billion worth stock in the online retail company, according to latest filings.

According to the filings with Securities and Exchange Commission, Bezos sold nearly 1 million shares worth $3.1 billion. After taxes, the world’s richest man will take home about $2.4 billion. Forbes estimates Bezos current net worth to be at least $188 billion.

The latest share sale leaves him with 54.5 million shares worth roughly $174.64 billion at the current market price. Previously, in February, Bezos had sold a similar large amount of Amazon stock worth $1.7 billion.

The stock sale comes at a time when the company’s shares have surged more than 73% this year.

In 2017, Bezos had revealed that he would be selling $1 billion worth of shares every year to fund Blue Origin, his space exploration company.

Meanwhile, last week, Amazon reported a second-quarter profit that doubled from a year ago, driven by revenues growth. Both earnings and revenues for the quarter trumped estimates. Amazon’s sales for the quarter increased 40% to $88.91 billion from $63.40 billion last year, with North America up 43 percent and international sales up 38 percent.

EARNINGS SUMMARY: Details of Globalstar Inc. Q2 Earnings Report

Below are the earnings highlights for Globalstar Inc. (GSAT):

-Earnings: -$24.74 million in Q2 vs. $6.19 million in the same period last year.
-EPS: -$0.01 in Q2 vs. -$0.01 in the same period last year.
-Analysts projected $0.00 per share
-Revenue: $30.36 million in Q2 vs. $31.19 million in the same period last year.

Security analyst explains 2 major concerns with TikTok

New York (CNN Business)One of the pandemic’s best-performing new companies took a hit Thursday because of — you guessed it — TikTok.

Fastly (FSLY), a cloud computing service provider, has risen 364% in the Nasdaq in 2020, and has even outpaced Zoom during the pandemic. Yet President Donald Trump’s recent threats to outlaw TikTok — which accounted for 12% of Fastly’s revenue over the last six months — could spell trouble for the company. Fastly’s stock fell 17% Thursday.
“Any ban of the TikTok app by the US would create uncertainty around our ability to support this customer,” Fastly CEO Joshua Bixby said on a quarterly earnings call. “While we believe we are in a position to backfill the majority of this traffic in case they are no longer able to operate in the US, the loss of this customer’s traffic would have an impact on our business.”

    Other companies use Fastly’s robust content delivery network, including Shopify, Spotify, and Slack. TikTok, however, remains Fastly’s largest user.
    Still, the company’s second quarter earnings were impressive. Revenue grew 62% compared to the same quarter the previous year, and total customer count grew to 1,951 from 1,837 — Fastly’s largest quarterly increase since its IPO in May 2019.

    Lionsgate Q1 Revenue Slides 16%, But Results Beat Analysts’ Estimates On Lower Costs, Library Boom

    No movie theaters? No problem.

    Lionsgate shrugged off a 16% downturn in revenue in its fiscal first quarter to beat Wall Street estimates during the first quarter entirely affected by COVID-19, which has shuttered theaters, production and much else. The financial performance was driven by lower expenses, stronger home entertainment demand and a record haul for its library, mainly via a licensing deal for Mad Men.

    Total revenue of $813.7 — more than one-quarter of which was library-derived — fell from $963.6 million in the same period a year ago. But the lower tally still came in ahead of analysts’ consensus estimate, as did the adjusted earnings per share of 39 cents, which was well ahead of the expectation for 21 cents.

    Starz reported domestic OTT subs of 7.4M, up from 6.8M last quarter.  Company reported 11.4M global OTT subs.

    Lionsgate Television Group had all five of its new series — Zoey’s Extraordinary Playlist, Love Life, Mythic Quest, Hightown and P-Valley — renewed for a sophomore outing.

    Google Parent Alphabet Q2 Profit, Revenues Beat Street View

    Alphabet Inc. (GOOG,GOOGL), the parent company of Google, Thursday reported a second-quarter profit and revenues that trumped Wall Street estimates, despite slowdown in ad revenues due to the ongoing Covid-19 crisis. However, the company reported its first revenue decline in history.

    Alphabet reported first-quarter profit of $6.96 billion or $10.13 per share, down from last year’s profit of $9.95 billion or $14.21 per share. On average, 29 analysts polled by Thomson Reuters estimated earnings of $8.34 per share for the quarter. Analysts’ estimates typically exclude one-time items.

    Revenues for the quarter dropped 2 percent to $38.30 billion from $38.94 billion last year. Analysts had a consensus revenue estimate of $37.36 billion for the quarter.

    Google advertising revenues dropped to $29.87 billion from $32.49 billion last year, while Google other revenues increased to $5.12 billion from $4.08 billion. Google cloud revenues increased to $3.01 billion from $2.10 billion last year.

    “In the second quarter our total revenues were $38.3B, driven by gradual improvement in our ads business and strong growth in Google Cloud and Other Revenues,” said CFO Ruth Porat. “We continue to navigate through a difficult global economic environment.”

    GOOG closed Thursday’s trading at $1,531.45, up $9.43 or 0.62%, on the Nasdaq. The stock, however, dropped $13.45 or 0.88% in the after-hours trading.