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Umpqua Holdings Corp. Q3 Profit Decreases, but beats estimates

What Kenji López-Alt Makes His Family for Dinner

If you can boil water, slice an onion and use a strainer, you can make niku udon, a Japanese beef noodle soup that is the cookbook author’s go-to weeknight dinner.

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By J. Kenji López-Alt

SL Green Realty Corp. Bottom Line Drops In Q3, but beats estimates

SL Green Realty Corp. (SLG) revealed a profit for third quarter that decreased from the same period last year but beat the Street estimates.

The company’s earnings totaled $7.38 million, or $0.11 per share. This compares with $388.21 million, or $5.91 per share, in last year’s third quarter.

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 3.5% to $212.46 million from $205.20 million last year.

SL Green Realty Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $7.38 Mln. vs. $388.21 Mln. last year.
-EPS (Q3): $0.11 vs. $5.91 last year.
-Analyst Estimates: $0.08
-Revenue (Q3): $212.46 Mln vs. $205.20 Mln last year.

Netflix To Charge For Customers Sharing Password Beginning 2023

Streaming platform Netflix announced on Tuesday that it will officially start charging from customers who use the account sharing service, after giving hints of a crackdown during the recent months.

In a letter sent to its shareholders, the company said that it plans to start “extra member” sub-accounts in 2023, which will require users to pay additional fee for friends and family members using the service through their account.

While Netflix hasn’t specified how much the extra member fees will be in the US, it is likely to follow a beta model already in select Central and South American countries including Costa Rica, where a Netflix sub-account costs $2.99, or one-fourth of the $12 monthly subscription fee, as per reports.

According to a March survey done by the Leichtman Research Group, an estimated one-third of Netflix subscribers in US share their log-ins with their relatives and friends. The new policy could bring in good revenue for the streamer, which has had a tumultuous year.

Though the company reported a turnaround on Tuesday and got more than 2 million new subscribers, it has lost subscribers in three consecutive quarters and has struggled ever since.

Netflix CEO Spence Neumann said on a call with investors on Tuesday, “As it regains momentum, charging for extra members allows the company to start “monetizing all that unpaid viewing.”

RLI Corp Q3 Profit Increases, but misses estimates

RLI Corp (RLI) reported a profit for its third quarter that increased from the same period last year but missed the Street estimates.

The company’s bottom line totaled $439.9 million, or $9.61 per share. This compares with $29.2 million, or $0.64 per share, in last year’s third quarter.

Excluding items, RLI Corp reported adjusted earnings of $23.0 million or $0.50 per share for the period.

Analysts on average had expected the company to earn $0.56 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 217.7% to $859.5 million from $270.5 million last year.

RLI Corp earnings at a glance (GAAP) :

-Earnings (Q3): $439.9 Mln. vs. $29.2 Mln. last year.
-EPS (Q3): $9.61 vs. $0.64 last year.
-Analyst Estimate: $0.56
-Revenue (Q3): $859.5 Mln vs. $270.5 Mln last year.

Tesla Motors Q3 Profit Rises

Tesla Motors Inc. (TSLA) Wednesday reported a third-quarter profit that surged from a year ago and beat Wall Street estimates, driven by a 56% jump in revenues. However, revenues fell shy of analysts’ expectations.

Palo Alto, California-based Tesla reported third-quarter profit of $3.29 billion or $0.95 per share, up from $1.62 billion or $0.48 per share last year.

Excluding items, adjusted earnings for the quarter were $3.65 billion or $1.05 per share, up from $2.09 billion or $0.62 per share last year. On average, 26 analysts polled by Thomson Reuters expected earnings of $0.99 per share for the quarter.

The electric car maker’s revenues for the quarter surged 56% to $21.45 billion from $13.76 billion last year. Analysts had a consensus revenue estimate of $21.96 billion.

Tesla said revenue growth was driven by growth in vehicle deliveries, growth in other parts of the business and increased average selling price.

Tesla produced 365,923 vehicles and delivered 343,830 vehicles in the third quarter, up from 237,823 vehicles and delivered 241,391 vehicles last year. It delivered 325,148 units of its Model 3 and Model Y, along with 18,672 units of its Model S and Model X.

Looking forward, Tesla said it expects to grow manufacturing capacity as quickly as possible. The company expects to achieve 50% average annual growth in vehicle deliveries.

TSLA closed Wednesday’s trading at $222.04, up $1.85 or 0.84%, on the Nasdaq. The stock, however, slipped $8.06 or 3.63% in the after-hours trading.

Umpqua Holdings Corp. Q3 Profit Decreases, but beats estimates

Umpqua Holdings Corp. (UMPQ) revealed a profit for third quarter that decreased from the same period last year but beat the Street estimates.

The company’s earnings totaled $84.0 million, or $0.39 per share. This compares with $108.1 million, or $0.49 per share, in last year’s third quarter.

Excluding items, Umpqua Holdings Corp. reported adjusted earnings of $0.47 per share for the period.

Analysts on average had expected the company to earn $0.45 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

Umpqua Holdings Corp. earnings at a glance (GAAP) :

-Earnings (Q3): $84.0 Mln. vs. $108.1 Mln. last year.
-EPS (Q3): $0.39 vs. $0.49 last year.
-Analyst Estimates: $0.45