Yahoo Finance Q3 Earnings Reports Follow Record Market Highs
After another stellar regular trading day this Wednesday, which saw new record closing highs for the Dow, Nasdaq and S&P 500, Q3 earnings results from several companies across a wide spectrum of industries hit the tape after the bell. United Air Lines UAL, American Express AXP and eBay EBAY have all put out Q3 results this afternoon.
American Express shares are down upon the credit card major's latest quarterly beat: earnings per share of $1.50 topped the Zacks consensus estimate by 3 cents, representing 20% growth year over year. Revenues also bested expectations, bringing in $8.44 billion in the quarter, above the $8.32 billion anticipated. The company also raised full-year earnings guidance to $5.80 - 5.90. Yet shares dipped roughly 1% in the immediate aftermath of the quarterly release.
This likely has to do with the surprise announcement that AmEx's Ken Chenault will be retiring, stepping down as Chairman and CEO as of February 1st next year. Current Vice Chair Steven Squeri will assume both roles for AmEx. Also, company shares are up 24% year-to-date and 53% year over year.
United also surpassed expectations on both top and bottom lines today, with $2.22 per share on $9.88 billion both improvements over the $2.12 and $9.86 billion estimated, respectively. The airline major saw its shares sell off in late trading, as well, likely based on weaker-than-expected passenger revenues and higher costs related to fuel and labor. For more info on UAL's earnings, click here.
eBay, meanwhile, barely eked out a postive surprise on the top line after today's closing bell -- $2.4 billion as opposed to $2.37 billion in our estimate -- while just meeting bottom-line earnings of 48 cents per share. The company missed estimates for active buyer totals in the quarter by about 3 million (to 168 million actualized), even amid efforts to drive site traffic in the quarter. Shares fell 5% upon the Q3 release. For more info on EBAY's earnings report, click here.
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