Earnings roundup: Boeing’s big loss, AT&T’s surprise, and more
Another round of major companies reported earnings Wednesday morning.
In the spotlight was troubled planemaker Boeing (BA), which reported a $6 billion loss ahead of a key union vote later today that will determine whether its workers continue their month-long strike. Boeing stock edged down less than 1% premarket.
Meanwhile, AT&T (T) stock jumped 3% after its third quarter earnings surpassed expectations as the telecommunications giant added more wireless subscribers than expected.
One of the big three credit unions, TransUnion (TRU), climbed 2.4% after topping estimates.
On the other hand, Coca-Cola (KO) fell 1.5% despite a mostly positive report. Hotel behemoth Hilton (HLT) dropped 3.5% after its earnings.
Here’s a look at how the group performed relative to Wall Street’s forecasts (according to Bloomberg consensus estimates):
Coca-Cola: Adjusted earnings per share of $0.77 vs. $0.74 expected, adjusted net operating revenue of $11.85 billion vs. $11.61 billion expected
AT&T: Adjusted EPS of $0.60 vs. $0.57 expected, revenue of $30.21 billion vs. $30.45 billion expected
Boeing: Adjusted loss per share of $10.44 vs. the $10.31 expected, revenue of $17.84 billion vs. $17.89 billion expected
Hilton: Adjusted EPS of $1.92 vs. $1.84 expected, net revenue of $2.87 billion vs. $7.92 billion expected
TransUnion: Adjusted earnings per share of $1.04 vs. $1.02 expected, revenue of $1.09 billion vs. $1.06 billion expected
Starbucks (SBUX) also posted preliminary quarterly results Tuesday that shocked the Street, sending its shares down around 3.5% premarket Wednesday.
Tesla (TSLA), T-Mobile (TMUS), and IBM (IBM) report earnings after the bell.
