Q3 Financial News

Canada’s Shopify returned to a profit in the third quarter, driven by strict cost controls and adoption of artificial intelligence to attract more merchants to its services.

Coinbase (NASDAQ:COIN) reported better-than-expected EPS and revenues for Q3 but saw a decrease in trading volumes for the second quarter in a row. As a result, shares fell more than 4% after-hours today.

SolarEdge Technologies (NASDAQ:SEDG) shares plunged Thursday after the company's third-quarter earnings and revenue missed consensus expectations.

MILAN (Reuters) — Luxury sports car maker Ferrari (NYSE:RACE) on Thursday slightly raised its forecasts for its full-year core earnings, after beating estimates with its third quarter results thanks to strong pricing power and product mix, including personalisation.

(Reuters) -Eli Lilly on Thursday cut its annual profit outlook on charges related to recent acquisitions, and beat quarterly sales estimates driven by strong demand for its new blockbuster diabetes drug, Mounjaro.

By Diana Mandia and Matteo Allievi

MOSCOW (Reuters) — Russia's dominant lender Sberbank reported on Thursday 411.4 billion roubles ($4.41 billion) in net profit in the third quarter and a return on equity (ROE) of 27.6% as it recovers from a difficult 2022.

By Leika Kihara

By Chibuike Oguh

Counterpoint Research. “Premiumisation has started in the world’s second largest smartphone market and Apple has again got the timing right to benefit from this trend through its devices and financing offers," the report quoted research analyst Shubham Singh as saying.

Tether, a leading stablecoin provider, reported in its Q3 2023 report that it has $3.2 billion of excess reserves backing the value of its stablecoins, including USDT.

Computer processor maker AMD (NASDAQ:AMD) reported Q3 FY2023 results beating Wall Street analysts' expectations, with revenue up 4.22% year on year to $5.8 billion. However, next quarter's revenue guidance of $6.1 billion was less impressive, coming in 4.53% below analysts' estimates. Turning to EPS, AMD made a non-GAAP profit of $0.70 per share, improving from its profit of $0.67 per share in the same quarter last year.

Investing.com – Advanced Micro Devices reported Tuesday better-than-expected third-quarter results, but the chipmaker also delivered softer current-quarter guidance as slowing sales in its gaming sector and softer demand in embedded markets are expected to weigh. 

BRUSSELS (Reuters) — Euro zone economic growth was weaker than expected in the third quarter, a flash estimate showed on Tuesday, with gross domestic product contracting slightly quarter-on-quarter and the year-on-year growth rate slowing sharply.

By Twinnie Siu and Donny Kwok

Rajan Sethuraman, CEO, LatentView Analytics, says “what has aided the growth in the last quarter and even in the first quarter has been incremental work that we have won from existing stakeholders. That again, is energizing because it means that the work we are doing for our current stakeholders is important and critical, that they choose to continue that and even add to that during the current economic scenario.” In the first half of the year, we have seen a growth of around 20%. But when we started the year, you had a growth target of at least 25%. Are you expecting growth to accelerate in the second half of the year or are you expecting this kind of growth rate to continue? While we hope for a significant acceleration, at this time, the demand scenario is still a little weak. We are, however, energized by the fact that the number of open conversations and the opportunities in the pipeline is more than double of where we were at the same time last year. So there is a great deal of interest but signing new deals and getting things underway, that is still quite sluggish.

In the third quarter of 2023, India’s top Tier-1 cities witnessed a 7% surge in commercial real estate supply, amounting to a total of 14.61 million square feet, according to a PropEquity study. This can be attributed to the government’s proactive measures to stimulate growth in the IT sector through tax incentives and infrastructural improvements.

Castrol India on Monday posted profit for the quarter ended September 2023 at Rs 194.42 crore, up 3.9 per cent in comparison to Rs 187.17 crore during the same period last year. It posted revenue from operations at Rs 1182.92 crore, up 5.5 per cent as against Rs 1121.07 crore during the third quarter of FY23. The company EBITDA stood at Rs 268.6 crore, up 4.4 per cent on-year. EBITDA margin, meanwhile, was at 22.7 per cent versus 22.9 per cent last year. The company follows the calendar year (January to December) for its financial reporting.

BERLIN (Reuters) — The German economy shrank slightly in the third quarter, data showed on Monday, as Europe's largest economy continues to be weighed down by weak purchasing power and higher interest rates.

Valérie Baudson, CEO of Amundi

Barclays strategists highlighted the fact that investor reactions to the third quarter earnings season have been “negative” so far.