Shares on the major stock market indexes in the United States rebounded to green with the Dow Jones Industrial Average rising by more than 200 points. The Dow was up by 0.53% at 10:38 am ET, with Dow Inc. leading the pack with an increase of 2.19% a minute later. The Nasdaq 100 was up 50 points. The S&P 500 rose by 0.34% at 10:40 am ET, as Norweigan Cruise Line Holdings Ltd were up 7.25% at 10:41 am ET.
Verizon: Q1 revenue grows 4% YoY to $32.9B
Verizon Communications Inc. reported on Wednesday that its revenue totaled $32.9 billion in the first quarter of fiscal 2021, up 4% in comparison to the same timespan the year prior. Net income amounted to $5.4 billion in the three months ending with March 31, 2021, jumping 25.4% from the corresponding trimester in 2020. The company’s diluted earnings per common share stood at $1.27, rising 27% compared to the first quarter of the previous year. Operating income gained 18.1% year on year to reach $7.8 billion. “This year began with a transformative milestone for our company with our success in the recent C-Band spectrum auction. We continue to strengthen our networks, execute on our Network-as-a-Service strategy and focus on the five vectors that underpin our growth framework and position us to deliver success in 2021 and beyond,” Chairman and CEO Hans Vestberg noted.
Halliburton reports $3.45B revenue in Q1, up 6.2%
Haliburton Company released its earnings results for the first quarter of fiscal 2021, revealing a net income of $170 million, or $0.19 per diluted share. This compares to a net loss of $235 million, or $0.27 per diluted share for the last trimester of 2020. The total revenue was $3.45 billion, a 6.2% increase compared to the previous three-month period, excluding impairments and other charges. “I am pleased with our first quarter performance, which demonstrates the benefits of our strong operating leverage in a recovering global market.” said Halliburton President and CEO Jeff Miller. “We achieved total company revenue of $3.5 billion and operating income of $370 million, representing increases of 7% and 6%, respectively, compared to revenue and adjusted operating income in the prior quarter.”
Netflix adds 3.98M subscribers in Q1, misses estimates
Netflix Inc. announced on Tuesday that the number of its subscribers in the first quarter of 2021 climbed by 3.98 million to 208 million, missing estimates. A year earlier, the company added 15.77 million subscribers in the corresponding period. “We believe paid membership growth slowed due to the big Covid-19 pull forward in 2020 and a lighter content slate in the first half of this year, due to Covid-19 production delays. We continue to anticipate a strong second half with the return of new seasons of some of our biggest hits and an exciting film lineup,” Netflix said in a letter to shareholders. The streaming giant’s revenue in the three-month period jumped 24% year on year to $7.2 billion, while diluted earnings per share (EPS) stood at $3.75, up from $1.57 reported in the first quarter of 2020. Nick Note: i have never seen hotter earnings…….. Remember the stool…. Vaccines, stimulat checks and set the captives free.