Nordstrom Inc. Q2 Earnings Summary
Below are the earnings highlights for Nordstrom Inc. (JWN):
-Earnings: $80 million in Q2 vs. -$255 million in the same period last year.
-EPS: $0.49 in Q2 vs. -$1.62 in the same period last year.
-Analysts projected $0.28 per share
-Revenue: $3.57 billion in Q2 vs. $1.78 billion in the same period last year.
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‘Inflexion points’: Nine lifts dividend after posting $183 million profit
Nine Entertainment Co will pay a final dividend of 5.5 cents per share after reporting a 43 per cent climb in earnings to $565 million before specific items.
Revenue for the $5.1 billion media company climbed 8 per cent to $2.3 billion and the company swung to a net profit after tax of $183 million. A specific item cost of $109 million was reported in the period, which was largely made up of a $62 million write-down of Nine’s radio division, which includes 2GB and 3AW.
Nine owns The Sydney Morning Herald and The Age, a television network, radio network, streaming service, Stan and has a controlling stake in digital-real-estate website, Domain.
Mike Sneesby was appointed Nine chief executive in March.Credit:Louie Douvis
Nine chief executive Mike Sneesby said the company had been able to execute its long-term strategy despite economic factors caused by COVID-19.
“Our Television and Publishing businesses have both reached critical inflexion points,” Mr Sneesby said. “With the foundation of Nine’s unique assets, strong cash flows and a supportive Board, we have a clear vision for the future as Australia’s media company.”
More to come
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Apple, Microsoft And Amazon CEOs To Meet Joe Biden To Discuss About Cybersecurity: Reports
US President Joe Biden is reportedly set to conduct a meeting with the heads of the world’s largest tech companies on Wednesday to discuss about the country’s cybersecurity.
According to Bloomberg, citing people familiar with the matter, Apple Inc.’s (AAPL) Tim Cook, Microsoft Corp.’s (MSFT) Satya Nadella and Amazon.com Inc.’s (AMZN) Andy Jassy plan to attend the event scheduled for Wednesday afternoon in White House.
The report says that the executives would discuss about efforts taken by big companies, including those in the banking, energy and water utility sectors, to improve cybersecurity. The tech executives will discuss how software can be used to improve security.
CEOs of companies including Alphabet Inc.’s (GOOG) Google, International Business Machines Corp. (IBM), Southern Co. and JPMorgan Chase & Co. have also been invited.
The meeting comes at a time when cybersecurity has become a big issue due to massive cyber and ransomware attacks on energy infrastructure, including that of Colonial Pipeline Co. Cyber hacking groups based in Russia were largely behind those attacks. In July, it was also revealed that China-based hackers had attacked 23 U.S. pipeline companies from 2011 through 2013. Russian hackers even hacked government systems, including the Department of Defense, in December 2020.
Stocks making the biggest moves after hours: Nordstrom, Toll Brothers & more
Check out the companies making headlines in after hours trading.
Nordstrom — Shares of the retailer slid more than 3% in extended trading despite Nordstrom beating top- and bottom-line estimates during the second quarter. The company earned 49 cents per share on $3.66 billion in revenue. Analysts surveyed by Refinitiv were expecting the company to earn 27 cents per share on $3.36 billion in revenue.
Toll Brothers — Toll Brothers' shares dipped more than 2% after the company missed revenue estimates during the third quarter. The company posted sales of $2.23 billion, slightly short of the $2.24 billion analysts surveyed by Refinitiv were expecting. The company earned $1.87 per share, which was ahead of the expected $1.54.
Urban Outfitters — Shares of the retailer dipped 2% following the company's second-quarter results. Urban Outfitters earned $1.28 per share, which was ahead of the 77 cents analysts surveyed by Refinitiv were expecting. Revenue came in at $1.16 billion, also ahead of the expected $1.08 billion.
Toll Brothers Q3 Profit Rises
Luxury home builders Toll Brothers Inc. (TL) on Tuesday reported higher profit in the third quarter, helped by higher revenues. The company’s earnings came in above the Street expectations.
The company posted net income of $234.9 million or $1.87 per share in the third quarter, higher than $114.8 million or $0.90 per share in the same period last year.
On average, 15 analysts polled by Thomson Reuters expected the company to post earnings of $1.54 per share in the quarter. Analysts estimates, usually, exclude one-time items.
Quarterly home sales revenues rose 37 percent to $2.23 billion from $1.63 billion a year ago while analysts were looking for the same. Net signed contracts came in at $2.98 billion, up 35 percent from $2.21 billion in the prior year period.
Looking ahead, in the fourth quarter, the company expects to deliver 3,450 units and earn other income of $40 million. For full year 2021, the company expects to deliver 10,100 units and earn other income of $140 million.