Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Shares of <keyword id="19950203" type="General" weightage="100" keywordseo="TCS" source="keywords">TCS</keyword> on Friday climbed over 3 per cent after the country's largest <keyword id="20069374" type="General" weightage="20" keywordseo="IT-services" source="keywords">IT services</keyword> player reported 8.7 per cent growth in the June quarter net profit at Rs 12,040 crore. The stock went up by 3.10 per cent to Rs 4,044.35 on the BSE. At the NSE, it rallied 3 per cent to Rs 4,044.90. The company's <keyword id="20097096" type="General" weightage="20" keywordseo="market-valuation" source="keywords">market valuation</keyword> jumped Rs 40,359.77 crore to Rs 14,59,626.96 crore in morning deals. The stock emerged as the biggest gainer among the Sensex pack. "The positive domestic cue is the better-than-expected numbers from TCS and positive management commentary which can lift most IT stocks," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. In the equity market, the 30-share BSE Sensex climbed 226.11 points to 80,123.45 in early trade. The <keyword id="19950205" type="General" weightage="20" keywordseo="nse-nifty" source="keywords">NSE Nifty</keyword> went up by 82.1 points to 24,398.05. <keyword id="19950119" type="General" weightage="20" keywordseo="Tata-Consultancy-Services" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Consultancy Services" meta.hostid="261" meta.entityid="Tata Consultancy Services">Tata Consultancy Services</keyword> (TCS) on Thursday posted an 8.7 per cent year-on-year rise in its consolidated net profit at Rs 12,040 crore for the first quarter ended June 2024. Net profit for the year-ago period stood at Rs 11,074 crore. The company - which competes in the IT services market with the likes of Infosys, Wipro and HCLTech - reported 5.4 per cent increase in revenue at Rs 62,613 crore for the quarter just ended. "I am pleased to report a strong start to the new fiscal year with all-round growth across industries and markets," K Krithivasan, Chief Executive Officer and Managing Director of TCS, said in a release. TCS has declared an interim dividend of Rs 10 per equity share of Re 1 each. Meanwhile, other IT stocks -- Infosys, Tech Mahindra, HCL Technologies and Wipro -- were also in demand.

TCS shares climb over 3% after earnings announcement; Market valuation jumps Rs 40,360 crore

Indian companies across multiple sectors have reported disappointing results in the second quarter of fiscal year 2025, notes a new JM Financials report. Consequently, their poor performance has triggered stock price corrections for affected companies. The brunt of this weaker than expected earnings was largely borne by consumer centric sectors like FMCG (fast moving consumer goods), retail, and auto, which slacked largely due to dampened urban demand. For instance, India's largest automaker, Maruti Suzuki, reported a 5% YoY decline in its total domestic passenger vehicle wholesales, largely on the back of pent-up inventory. Similarly, Honda reported a staggering 23% YoY dip in its total sales during October 2024. A recent report by Bernstein noted that around 48% of the companies listed on the NSE100 index missed their earnings estimate for Q2FY25, the highest since March 2020. Most companies have mentioned deteriorated domestic demand, urban slowing, macroeconomic risk, and margin pressures as the main reasons behind the dip. "The quarter's earnings have made investors nervous," noted the JM Financials report. The challenging environment stems from multiple factors: softening consumer demand, rising input costs, and companies' limited ability to increase prices. Moreover, this is not limited to just one quarter. Companies have been reporting weak, single-digit earnings growth for the last six consecutive quarters. Data from India Data Hub also suggests that corporate profits of listed companies plunged by as much as 3.4% during the quarter ended September 30, 2024. This is in stark contrast to the year-ago period, where they had shot up by over 40% The oil and gas sector had a difficult quarter, with refiners hit by weak margins and city gas distributors struggling with higher input costs. Financial institutions showed mixed results. While government-owned banks reported strong numbers, microfinance institutions and some private lenders faced massive difficulties with their unsecured loans. Most notable amongst this was the case of IndusInd Bank, which saw its net profits dip by 40% amidst burgeoning provisions, which climbed 87% to Rs 1,820 crore in Q2, as against Rs 974 crore reported in the year-ago period. <h2>Markets head southwards</h2>The selling trend by FPIs has dragged down the major Indian indices, the Nifty 50 and Sensex, both of which have dropped by around 8% since the beginning of this selling spree in October. According to National Securities Depository Ltd. (NSDL) data, FPIs offloaded equities worth a significant Rs 19,994 crore in just the first five trading sessions of November last week. The impact is clearly visible on Indian stock markets. Data suggests that while every sector in October closed the month in red, auto, oil and gas, and consumer durables were the most badly hit, each declining by as much as 10% during the month. Another indicator underlining the inherent weakness of the market was that the month saw only 242 stocks hit their 52-week high, significantly below the usual monthly average of 310.

India Inc. stares at an earnings dearth in Q2, FMCG, auto, and consumer durables falter

<ul class="summary-list"><li>Amazon will report its second-quarter earnings after the market close on Thursday.</li><li>Investors expect solid growth in Amazon's AWS cloud unit, as well as its massive retail operations.</li></ul><a target="_blank" class="" href="https://markets.businessinsider.com/stocks/amzn-stock?miRedirects=1">Amazon</a> will report its second-quarter earnings results on Thursday after the market close, and all eyes are on the company's AWS cloud business.Wall Street expects the retail giant to report adjusted earnings per share of $1.47 in the quarter and revenue of $148.78 billion, according to data from Bloomberg.Top of mind for investors will be any commentary on Amazon's <a target="_blank" class="" href="https://www.businessinsider.com/guides/deals/amazon-prime-day">recent Prime Day sales event,</a> as well as the growth rate of its advertising business and whether its AWS cloud unit is still the leader in the space.Here's what Wall Street expects from Amazon's upcoming second-quarter earnings report.<h2 id="71b9d118-3642-43de-9f8b-b78edb7ce795">Bank of America: Amazon's retail unit is gaining share</h2>Bank of America expects Amazon to produce a solid earnings report on Thursday, with the bank expecting both a revenue and income beat, as well as faster-than-expected growth in its AWS cloud unit."Given beat in 1Q, new third-party fees, Prime ad ramp and limited fulfilment center square foot growth, we expect upside toward buyside expectations," Bank of America said in a recent note.The bank said the biggest risk for Amazon is its third-quarter profit margin guidance because Wall Street already has high expectations, and higher freight costs could serve as a headwind.While the US consumer is showing signs of softening, the bank expects Amazon's retail unit to be a beneficiary from the current economic environment."There are some signs of consumer softening, but we think Amazon is gaining share," Bank of America said.And while Amazon's stock multiple has expanded, the bank still sees upside potential."Given expanding retail margins with support from Prime ad growth, and expected AWS acceleration, we think the stock is still set up for multiple expansion in 2024," Bank of America said.Bank of America rates Amazon with a "Buy" and a $220 price target.<h2 id="1f27ebd5-97ff-4c14-b59d-f5d4fd18ba4d">Citi: 'Improving AWS demand and expanding profitability'</h2>Citi said Amazon is set to benefit from multiple tailwinds as demand for its AWS cloud services improves and it expands its profitability."Given GenAI tailwinds we believe AWS revenue growth likely accelerated in 2Q and based on improving efficiencies across Retail along with continued strong advertising demand, we believe OI is likely to be above the high-end of guidance," Citi said in a recent note.The bank said that while there are signs of a "more challenged" low-end consumer, Amazon's delivery improvements should result in solid retail sales."Faster delivery has improved conversion rates and our analysis of Prime Day suggests another successful event," Citi said.Here's what Citi will be looking for on Amazon's earnings call:"During earnings, we'll be listening for AWS demand, the results from the May Upfronts, Prime Video demand, and thoughts on its newly signed NBA streaming rights, international profitability, capex, and any insights on capital returns as margins ramp," Citi said.Citi rates Amazon with a "Buy" and a $245 price target.<h2 id="d91037a0-d1f4-4c4f-aa99-1358c5ae5a2b">Goldman Sachs: 3 key things to watch for in Amazon's Q2 earnings</h2>Goldman Sachs highlighted three key investor debates that will be ongoing as Amazon reports its second-quarter results.Those three things are:<ol><li>"The overall health of the consumer — Amazon's eCommerce business appears to have remained strong in Q2 based on a host of industry checks and data points intra quarter."</li><li>"The ability of Amazon to continue to produce Operating Income margin upside — a topic we delve into greater detail in the note and still see the potential for outperformance in 2025 driven by higher retail margins and a stronger contribution of advertising — we also maintain a positive long-term view on Intl margins and expect AWS profitability to remain robust."</li><li>"The trajectory of AWS revenue growth, where we continue to expect reacceleration through 2024 as prior headwinds around optimization and workload migration turn into tailwinds and AI workloads are a rising tailwind."</li></ol>Goldman Sachs rates Amazon with a "Buy" and a $250 price target.<h2 id="25293eb3-dbad-48be-aff3-6f1e2703c0a4">JPMorgan: 'Expect AWS acceleration'</h2>JPMorgan said in a recent note that investor discussions reveal the top areas of focus to be the potential for accelerated growth in Amazon's AWS cloud unit."Investor discussions focused on AWS acceleration, GenAI positioning, pace of North America OI margin expansion, health of the consumer, and magnitude of FCF and potential capital returns," JPMorgan said.The bank, which calls Amazon a "Best Idea," said investors are looking for Amazon to deliver between $148 billion and $150 billion in revenue, and AWS unit growth of 17% to 18% in the second quarter."We expect AWS acceleration and solid Stores growth, North America and International OI margin expansion, and improved cost discipline to support multi-year FCF ramp," JPMorgan said.JPMorgan rates Amazon with an "Overweight" and a $240 price target.<h2 id="c7010070-1cee-4415-ba82-dacf06e2bd1a">Bloomberg Intelligence: 'Double-digit sales gains may stay intact'</h2>Analysts at Bloomberg Intelligence expects Amazon's second-quarter sales to rise towards the high end of its 7% to 11% guidance range thanks to strong e-commerce sales, ongoing advertising gains and continued growth in Amazon's AWS cloud division."AWS sales, in constant currency, may meet consensus' high-teens view," Bloomberg Intelligence said.Amazon should also see some solid growth in its retail division, according to the note."On the retail side, the company's personal-shopping assistant Rufus and other gen-AI enhancements, coupled with third-party sales outpacing first party, are catalysts," Bloomberg Intelligence said.The analysts also said Amazon's advertising revenue could continue to grow at a "20%-plus pace as Amazon takes market share."

'Gaining share': Here's what Wall Street expects from Amazon's 2nd-quarter earnings

<ul class="summary-list"><li>Almost half of Nvidia's $30 billion revenue in the second quarter came from four customers.</li><li>A tech analyst told BI that this concentration of revenue is "highly unusual" for a mega-cap company.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/nvidia-q2-earnings-ai-investors-expectations-2024-8">Nvidia notched $30 billion in revenue</a> for the second quarter, beating many analysts' estimates for the period. Nearly half of that came from four customers, according to an <a target="_blank" class="" href="https://d18rn0p25nwr6d.cloudfront.net/CIK-0001045810/78501ce3-7816-4c4d-8688-53dd140df456.pdf">SEC filing</a> from the company.That should keep investors on alert for the next year or two, Gil Luria, a tech analyst who covers Nvidia for D.A. Davidson, an investment firm, told Business Insider.According to the company filing, just four customers brought in 46% of Nvidia's total Q2 revenue — about $13.8 billion.The companies are kept anonymous in the filing. There's no disclosure law that requires Nvidia to reveal its clients' names, Luria told BI.But the customers are likely to be <a target="_blank" class="" href="https://www.businessinsider.com/microsoft-gpu-targets-1-8-million-ai-chips-this-year-2024-4">Microsoft</a>, <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-mark-zuckerberg-ai-chips-gpus-meta-2024-2">Meta</a>, <a target="_blank" class="" href="https://www.businessinsider.com/amazon-nvidia-aws-ai-chip-dominance-gpu-trainium-inferentia-2024-5">Amazon</a>, and <a target="_blank" class="" href="https://developer.nvidia.com/blog/google-cloud-run-adds-support-for-nvidia-l4-gpus-nvidia-nim-and-serverless-ai-inference-deployments-at-scale/#:~:text=Google%20Cloud%20was%20the%20first,GKE)%2C%20and%20Vertex%20AI.">Google</a>, Luria said. All four companies are known to be ramping up their GPU stockpiles as they aggressively pursue AI initiatives."The only way that they're not the four is if one of their customers is a reseller," Luria said, naming Dell and Supermicro as examples.An Nvidia spokesperson declined to comment, and none of the four purported customers responded to requests for comment.Luria said it's "highly unusual for a company" at Nvidia's scale to lean on a handful of clients for a large chunk of its revenue."None of the other mega caps even have one 10% customer," the tech analyst told BI, referring to large companies with a market capitalization of more than $200 billion. As of Wednesday, <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-ai-3-trillion-club-apple-microsoft-jensen-huang-2024-6">Nvidia's market cap</a> was $2.61 trillion.Luria maintained a Hold rating for Nvidia stock, citing concerns around the sustainability of demand.Jacob Bourne, a tech analyst for Emarketer, told BI that the high concentration of revenue may be unusual within the context of the broader marketplace. But he said it's normal for tech companies that provide a specialized product, like graphics processing units. Emarketer is a subsidiary of Axel Springer, which also owns BI.Nvidia said in a 10-Q filing that it has experienced periods where the company saw a significant amount of revenue from a limited number of customers and that "this trend may continue."In 2004 — when Nvidia was bringing in a fraction of the revenue it's seeing today — the <a target="_blank" class="" href="https://d18rn0p25nwr6d.cloudfront.net/CIK-0001045810/ac23c11f-a5bf-40d7-be57-051de2280872.pdf">company's 10-Q filing</a> showed that just four unnamed customers brought in 51% of its total revenue in the third quarter. At the time, Nvidia was working with PC manufacturers like Dell and Sony to provide GPUs for computer and gaming systems.Luria told BI that Nvidia has historically maintained the same big four customers — Microsoft, Meta, Amazon, and Google — in its data center segment. But they have typically been balanced by Nvidia's gaming and auto segments, which have different customers."Customer concentration has increased for NVDIA recently because the data center business is now a much bigger proportion of overall revenue," Luria said.He said this customer concentration should be investors' primary concern for the next year or two for three key reasons:<h2 id="19794bc8-2282-4325-ab93-849ca43c06d0">1. Large companies don't rely on a single source</h2>Big companies "don't like being beholden to one vendor for any category," Luria said."Just like Walmart doesn't buy all of its potato chips from one vendor, Microsoft doesn't like buying its computer chips from one company," he said.Microsoft has made that clear before, Luria added, citing how the company gradually moved away from Intel as its sole provider for processors.<h2 id="e614e1af-bc45-45a4-b47a-21a151d95099">2. The Nvidia demand could be temporary</h2>Another reason investors should be concerned is that these large Nvidia customers have indicated that they are buying more GPUs without concern for their immediate return on investment, Luria said.The companies "have communicated that they are 'over-investing,' which means they are buying without regard for a return on investment, usually not something that lasts very long," Luria said.<a target="_blank" class="" href="https://www.businessinsider.com/meta-q1-results-ai-investment-payoff-mark-zuckerberg-2024-4">Meta CEO Mark Zuckerberg</a> told shareholders during an earnings call in April that any upside to his company's AI pursuits will likely "take several years" — so the current feeding frenzy for Nvidia chips from the large clients could be temporary.That doesn't mean Nvidia will lack customers.Bourne, the Emarketer analyst, told BI that Nvidia has a long list of clients, from countries to startups, that want to buy the company's chips."Just because currently there's these handful of companies that are really making up the lion's share of Nvidia's revenue, it doesn't mean that that's always going to be the case," he said. "We might see an influx of new big customers and, of course, nation-states could be among those buying a significant number of these chips."<h2 id="826161f9-8f1d-46a0-8b89-afbb0ad1d4c3">3. Increasing competition</h2>There's also more competition coming for <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-defends-dominance-competition-increases-2024-6">Nvidia</a>.<a target="_blank" class="" href="https://fortune.com/2024/04/11/meta-google-ai-chips-semiconductor-in-house-nvidia-trillion-dollar-question/">Google and Meta</a> announced new in-house chips for AI development earlier this year; Microsoft unveiled its custom AI chips at the end of 2023; and Amazon is developing its own chips to avoid paying for the expensive Nvidia GPUs, BI's Eugene Kim previously reported."All of these companies are in various stages of deploying their own chips for AI," Luria said. "Google and Amazon have been doing so the longest which means their technology is already competitive with Nvidia, and Microsoft and Meta are catching up."

Investors should worry that almost half of Nvidia's revenue in the second quarter came from just 4 customers, according to a tech analyst

New Delhi: As the earnings season for the second quarter of FY25 unfolds, <keyword id="19959986" type="General" weightage="20" keywordseo="public-sector-banks" source="keywords">public sector banks</keyword> (PSBs) are expected to see a slight dip in profits compared to the previous quarter, according to a report by <keyword id="19896146" type="General" weightage="100" keywordseo="Motilal-Oswal" source="keywords" meta.keywordsubtype="org" meta.entityname="Motilal Oswal" meta.hostid="153" meta.entityid="Motilal Oswal">Motilal Oswal</keyword>. The report estimates that PSBs' Profit After Tax (PAT) will decline by 0.6 per cent quarter-on-quarter (QoQ), while showing a stronger year-on-year (YoY) growth of 17.2 per cent. "We estimate PSBs to report moderate <keyword id="19899597" type="General" weightage="20" keywordseo="earnings-growth" source="keywords">earnings growth</keyword> of 17.2 pc YoY/ a decline of 0.6 pc QoQ in 2QFY25," the report stated. The slower pace of growth can be attributed to flat net interest margins (NIMs) and a slight increase in loan loss provisions (LLP). The <keyword id="20171160" type="General" weightage="20" keywordseo="Net-Interest-Income" source="keywords">Net Interest Income</keyword> (NII) for PSBs is expected to grow by around 6 per cent YoY, although interest margins are likely to remain under pressure. Despite these near-term challenges, the report suggests that public sector banks are on track to post a compound annual growth rate (CAGR) of 15 per cent between FY24 and FY26, pointing to sustained long-term growth. In the private sector banking space, the report forecasts mixed results for the same quarter. For private banks under the coverage, Pre-Provision Operating Profit (PPoP) is expected to grow by 12 per cent YoY and 1 per cent QoQ. However, PAT growth is predicted to be more modest, increasing by 5 per cent YoY and 0.6 per cent QoQ. "For our private bank coverage universe, we estimate a PPoP growth of 12 pc YoY/1 pc QoQ and a PAT growth of 5 pc YoY/0.6 pc QoQ in 2QFY25," the report added. Looking ahead, private sector banks are expected to experience steady profitability growth, with earnings projected to grow at a CAGR of 12.4 per cent over FY24-FY26. Overall, while both public and private sector banks may face moderate growth in the second quarter due to margin pressures and higher provisions, their long-term earnings prospects remain positive. (ANI)

Profit of public sector banks expected to decline by 0.6 percent QoQ : Motilala Oswal

<ul class="summary-list"><li>Meta Platforms will report its second-quarter earnings after the market close on Wednesday.</li><li>Investors are keen to see if Meta's massive AI investments will ultimately pay off.</li></ul>All eyes are on <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/meta-stock?miRedirects=1">Meta Platforms</a> with the company set to report its second-quarter earnings results after the market close on Wednesday.The social media giant has a lot to prove to investors, especially after its <a target="_blank" class="" href="https://www.businessinsider.com/meta-q1-results-ai-investment-payoff-mark-zuckerberg-2024-4">first-quarter earnings</a> led to a one-day decline of 11% in April.While Meta has built up its AI capabilities in a big way, having hoarded <a target="_blank" class="" href="https://engineering.fb.com/2024/03/12/data-center-engineering/building-metas-genai-infrastructure/#:~:text=The%20future%20of%20Meta's%20AI%20infrastructure&amp;text=future%20of%20AI.-,By%20the%20end%20of%202024%2C%20we're%20aiming%20to%20continue,equivalent%20to%20nearly%20600%2C000%20H100s.">about 600,000 H100 GPUs from Nvidia,</a> it's main driver of earnings remains its product platforms including Instagram, Reels, Facebook, and Messenger.And it will be vying to prove to investors that its massive investment in AI chips is worth it, as the company has shown little progress so far in monetizing its massive investment.Here's what Wall Street expects from Meta's second-quarter earnings report.<h2 id="7424b263-738e-4187-b481-92793aaf13df">Bank of America: 'Potential TikTok ban' bodes well</h2>Bank of America said in a recent note that it expects Meta to meet or slightly beat Wall Street's expectations for revenue and beat profit estimates when it reports second-quarter earnings."With job openings down in 2Q, we don't anticipate a repeat of last quarter's higher '24 expense guidance, though higher legal and capex are risks," Bank of America analyst Justin Post said.Looking forward, Post highlighted that a potential TikTok ban in early 2025 could provide a big boost to Meta's advertising business."With political spend, and potential TikTok ban in 1Q'25, Meta could also see an ad spend benefit in 2H'24," Post said.Bank of America has a "Buy" rating on Meta with a $550 price target.<h2 id="cd5f5097-011f-41df-b7fa-2fa30b8bf610">Citi: 'Focused on engagement, monetization, and efficiency gains'</h2>A solid advertising environment should help Meta deliver better-than-expected second-quarter earnings and revenue, according to a recent note from Citi."Our 2Q advertising checks and time at Cannes suggest that the broader online advertising market is healthy and strengthening," Citi analyst Ronald Josey said."We'll be watching for continued engagement benefits from Meta's investments in AI content discovery, adoption of newer monetization tools, early progress from the beta launch of AI studio, potential benefits from Llama 3.1, and profitability. Meta remains our top-pick across our coverage," Josey said.Citi has a "Buy" rating on Meta with a $550 price target.<h2 id="dd22d32d-5299-4dc0-b541-df328fedf5fb">Wells Fargo: 'Checks suggest robust 2Q ads performance'</h2>Wells Fargo raised its second-quarter estimates in a recent note as its internal checks suggests solid ad performance from the company."Checks suggest noticeable ad targeting and efficiency improvement in 2Q despite meaningful CPM growth acceleration," Wells Fargo analyst Ken Gawrelski said.The bank also expects Meta to maintain its prior capital expenditures guidance of $35 billion to $40 billion for the year."Given the unfavorable market reaction to 1Q mgmt commentary on potential revenue displacement due to scaling of newer AI products, believe investors will welcome further framing of potential impact," Gawrelski said.Wells Fargo has an "Overweight" rating on Meta with a $625 price target.<h2 id="fe4b6b3c-dc45-4017-82d8-047afc4081be">Mizuho: 'Capex concerns keep expectations in check'</h2>Mizuho said in a recent note that investor concerns about Meta's massive investment cycle has kept Wall Street expectations "in check."But that means overall expectations may prove to be too conservative."We believe risk/reward appears positive on Meta into the print with solid 2Q24 ad agency tracking, achievable 3Q24 expectations, and flexibility in opex to manage raising capex," Mizuho analyst James Lee said."At the same time, we view consensus FY24 growth of 17% conservative with improved ad pricing growth from Reels, Amazon's integration into FB shops, and special events revenue growth," Lee added.Mizuho has an "Outperform" rating on Meta with a $575 price target.<h2 id="83245e25-3055-4737-b71b-3a4154dc0c0c">Bloomberg Intelligence: 'Election-ad spending to be key driver'</h2>The upcoming Presidential election and its related advertising spend should benefit Meta in a big away, according to Bloomberg Intelligence analyst Mandeep Singh."Meta's impressions and user growth may taper with ad pricing and election-ad spending to be key drivers for surpassing consensus sales growth expectations of 20% in 2Q," Singh said in a recent note.The company also has the potential to offer guidance on the monetization potential of its licensing of Llama, its open-source large language model."Though Meta's positioning remains strong in gen AI, a top-line lift from licensing its Llama model to enterprise customers and adoption of subscription chatbot offerings, similar to OpenAI and Gemini Advanced, will be a key focus on the earnings call," Singh said.

'Potential boost from TikTok uncertainty': Here's what Wall Street expects from Meta's 2nd-quarter earnings

<ul class="summary-list"><li><keyword id="20335345" type="General" weightage="20" keywordseo="McDonalds" source="keywords" meta.keywordsubtype="org" meta.entityname="McDonald's" meta.hostid="261" meta.entityid="McDonald's">McDonald's</keyword> global sales fell for the second consecutive quarter, down 1.5%.</li><li>Fast-food chains have faced challenges from <keyword id="19999654" type="General" weightage="20" keywordseo="food-inflation" source="keywords">food inflation</keyword>, affecting <keyword id="20139791" type="General" weightage="20" keywordseo="consumer-spending" source="keywords">consumer spending</keyword> habits.</li></ul>Global sales at McDonald's have fallen for a second consecutive quarter as the fast-food chain struggled in international markets, especially France, the UK, China, and the Middle East. Sales were down 1.5% in its third quarter, following from a 1% slide in the previous quarter, ending June 30. Comparable sales in the US were virtually flat, up 0.3% from the same period in 2023, while sales in international markets dropped 2.1%. Sales in licensed international markets fell 3.5%. "We will stay laser-focused on providing an unparalleled experience with simple, everyday value and affordability that our consumers can count on as they continue to be mindful about their spending," McDonald's CEO Chris Kempczinski said in the earnings release. While sales dropped, <a target="_blank" class="" href="https://www.businessinsider.com/trying-most-expensive-mcdonalds-switzerland-disappointing-fries-best-burger-2023-12">the Golden Arches</a>' revenue increased 3% to $6.9 billion, beating the $6.82 billion figure that was the consensus of analysts. Net income declined 3%, down to $2.26 billion, down from $2.32 billion in the last quarter. Shares in McDonald's fell 2.7% in premarket trade after the results were announced. Fast-food restaurants have struggled with food inflation since the COVID-19 pandemic. The most recent <a target="_blank" class="" href="https://www.bls.gov/news.release/cpi.nr0.htm">US consumer price index</a>, released in early October, showed that the cost of food away from home rose 4% in the prior 12 months, significantly higher than gains in both grocery store prices and the overall CPI. Chains, including McDonald's, have responded to the soaring cost of ingredients and labor by raising menu prices. Consumers have felt the strain of rising costs. Analysts have said that some consumers are <a target="_blank" class="" href="https://www.businessinsider.com/why-fast-food-is-so-much-more-expensive-value-affordable-2024-4">comparing the rising cost of fast food to the slowing rate of grocery inflation</a> and choosing to cook more often at home instead of eating out. Lower-income customers have particularly felt the pinch. "The decline in comparable sales signals that consumers continue to retrench from eating out," Neil Saunders, managing director of GlobalData's US retail and consumer division, told Business Insider. "Negative comparable sales and higher costs have also put some pressure on the bottom line where both operating and net income are down," he said. It's uncertain how the <a href="https://www.businessinsider.com/mcdonalds-e-coli-outbreak-cases-rise-75-people-2024-10" target="_blank">recent E. </a><a href="https://www.businessinsider.com/mcdonalds-e-coli-outbreak-cases-rise-75-people-2024-10" target="_blank">coli outbreak</a> in several states might affect McDonald's fourth-quarter results. One person died, and at least 75 were sickened. The Food and Drug Administration has said that the slivered onions on affected <a href="https://www.businessinsider.com/mcdonalds-quarter-pounder-ecoli-outbreak-why-important-sales-2024-10" target="_blank">Quarter Pounder burgers</a> were "a likely source of contamination," and the supplier of the topping <a href="https://www.businessinsider.com/mcdonalds-supplier-taylor-farms-recalls-onions-amid-e-coli-outbreak-2024-10" target="_blank">has issued a recall</a>. Correction: October 29, 2024 — An earlier version of this story overstated what has been confirmed about the recent <keyword id="22099782" type="General" weightage="20" keywordseo="E-coli-outbreak" source="keywords">E. coli outbreak</keyword> linked to McDonald's. The FDA is still investigating the outbreak and has not conclusively settled on a cause, though it has said slivered onions from one of the chain's suppliers were "a likely source of contamination."

McDonald's sales dropped for the 2nd quarter in a row as customers keep tightening their belts

<ul class="summary-list"><li>Investors are awaiting TSMC earnings for signs of what's to come for the chip sector. </li><li>AMSL sparked a panic on Tuesday as it slashed sales guidance for 2025. </li></ul>This week's <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-today-chip-stocks-asml-nvidia-morgan-stanley-earnings-2024-10">sell-off in chip stocks</a> and lingering questions about the demand for artificial intelligence tech has raised the stakes for Taiwan Semiconductor Manufacturing Company's coming earnings report.The chipmaker will report its full third-quarter earnings in the early hours on Thursday. The results will serve as a key update for investors eagerly watching for signs of an industry slowdown after <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/chipmakers-tumble-asml-guidance-semiconductor-nvidia-chip-growth-2024-10">downbeat guidance from ASML</a> triggered a sell-off in top semiconductor shares on Tuesday. TSMC, which is one of ASML's largest customers and a top supplier to tech firms like Nvidia and Apple, revealed last week that it pulled in revenue of $759.69 billion New Taiwan dollars, or around $23.57 billion, in the third quarter, beating estimates.TSMC edged 1% lower Wednesday afternoon, with shares trading around $187.82. The stock is up 84% year-to-date, thanks partly to the firm's strong financial results so far in 2024.Chip and semiconductor stocks, meanwhile, traded slightly higher, with the SPDR S&amp;P Semiconductor ETF rising nearly 1% by mid-day.Traders are waiting for guidance from TSMC executives on the firm's earnings call regarding demand in the current quarter as well as the coming year. Fears about demand were ignited recently when Nvidia reported results for the second quarter in August. The chip giant's earnings beat estimates but fell short of the loftiest projections, leading to questions about cooling appetite for AI-enabling technology as firms have yet to report meaningful returns on huge capital expenditures in the space. Since then, Nvidia has once again traded close to all-time highs. Recent comments from CEO J<a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-price-jensen-huang-blackwell-gpu-demand-ai-tech-2024-10">ensen Huang point to extremely high demand</a> for the next-generation Blackwell chip, which Huang has said will be sold out for the next 12 months.

You Searched For "tcs second quarter earnings" and got 8 results

TCS shares climb over 3% after earnings announcement; Market valuation jumps Rs 40,360 crore

PTI

India Inc. stares at an earnings dearth in Q2, FMCG, auto, and consumer durables falter

Ira Alok Puranik

'Gaining share': Here's what Wall Street expects from Amazon's 2nd-quarter earnings

Matthew Fox

Investors should worry that almost half of Nvidia's revenue in the second quarter came from just 4 customers, according to a tech analyst

Lloyd Lee

Profit of public sector banks expected to decline by 0.6 percent QoQ : Motilala Oswal

ANI

'Potential boost from TikTok uncertainty': Here's what Wall Street expects from Meta's 2nd-quarter earnings

Matthew Fox

McDonald's sales dropped for the 2nd quarter in a row as customers keep tightening their belts

Nora Redmond

All eyes are on TSMC earnings as the chipmaker industry faces slowdown worries

Jennifer Sor

Popular Keywords

Buying Guides