Q3 Financial News

Intuitive Surgical reported mixed third quarter results as earnings beat, but revenue missed analysts' forecasts as Intuitive Surgical, Inc. (NASDAQ:ISRG) shares fell over 8% lower in pre-market Friday.

Sanjeev Kumar Bijli, ED, PVR Inox, says “on Thursday we opened Leo down south. It has opened to phenomenal admissions and numbers. We have Tiger 3 coming out in November. December is looking jam packed. And it is going to be as good as August with Dunki, Salar. We have Animal, Merry Christmas and Marvels, and Aquaman. I am glad the movie line up is coming on the screen as well. So there is a combination of Hindi, English and regional films that are coming up in this quarter. And they all look amazing. They all look brilliant.” This is the highest ever revenue that we have seen so far in the second quarter. You must be elated at Team PVR INOX. It has been a really steady ship in the second quarter. The question is, can it continue this kind of momentum? It is the festive season for us before the festival starts. We are all very excited and elated by the results in this quarter, which obviously was augmented by the great lineup of films and some great cinemas and new properties that we had added. We are pretty confident and sanguine that this kind of a trend will continue because not only we have a good pipeline of films in the third quarter and the fourth quarter and we are also adding some very exciting new properties going forward.

It’s been a challenging quarter for crypto, Binance has confirmed in its Q3 market pulse report. The market was down in many sectors, the report found, although the entry of institutional players such as Deutsche Bank, Sony and PayPal helped offset some of the pain. 

By Sarah Wu and Yimou Lee

₹23,279.90 against the previous close of ₹23,269.65 and rose about 3.8 per cent to hit its all-time high of ₹24,164.40 on BSE. Around 12:50 pm, the stock traded 3.28 per cent higher at ₹24,033 on the BSE. During market hours on Thursday, Nestle India reported a net profit of ₹908 crore in the quarter ended September 2023, registering a growth of 37.27 per cent from ₹661.46 crore in the same quarter last year.

₹908 crore in the quarter ended September 2023, registering a growth of 37.27% from ₹661.46 crore in the same quarter last year. The net profit for the quarter includes one-time gain of ₹106.4 crore. Nestle India’s revenue in Q3CY23 increased 9.5% to ₹5,036.8 crore from ₹4,601.8 crore in the year-ago period.

₹10, the Maggi manufacturer announced an interim dividend of ₹140 per equity share for the year 2023. The second interim dividend will be paid on November 16.

Investing.com-- Shares of Chinese electric vehicle makers fell on Thursday, tracking an overnight tumble in Tesla (NASDAQ:TSLA) after the world’s most valuable car maker posted weaker-than-expected third-quarter earnings.

The Texas-based electric vehicle giant said sales in the July to September period reached $23.35 billion, lower than the $24.19 billion forecasted by analysts polled by Factset. The company also saw net profits come in less than hoped for, at 66 cents per share instead of 73 cents forecasted. Musk has undertaken multiple price cuts throughout 2023 on vehicles, telling investors in April that the company has taken the view that pushing for higher sales is the right choice versus taking a bigger margin. The move came as more EVs from legacy carmakers like General Motors and Ford are hitting dealerships. But those rivals have been punished by a major strike in the United States, something that Tesla will not have to navigate. The price cuts have made investors nervous and Tesla's share price slid more than seven percent in the last month and was down more than three percent from its last closing price in afterhours trade. The Tesla stock valuation however still dwarfs other US car makers and it has more than doubled in 2023, comforting Musk's position as one of the world's two richest people.

nvesting.com — Tesla reported Wednesday quarterly results that missed Wall Street estimates as its recent wave of electric vehicle price cuts weighed on margins.    

Morgan Stanley's profit fell about 9% in the third quarter, dragged down by lethargic dealmaking that sent the lender's shares down nearly 3% in premarket trading. Profit for the three months ended Sept. 30 was $2.4 billion, or $1.38 per diluted share, the bank reported on Wednesday.

Morgan Stanley’s third-quarter earnings slid amid sluggish results from the firm’s investment bank and a miss in wealth management.

Abbott (NYSE:ABT) shares are up more than 2% premarket Wednesday after the company reported earnings, topping consensus expectations.

Quilter CEO Steven Levin

The FMCG major’s gross margin and operating margin are likely to expand both YoY and sequentially, on the back of softer raw material prices, price hikes, and operating leverage benefits. Nestlé India is scheduled to release its earnings on Thursday. Here is a summary of analysts’ expectations from the company’s Q3 earnings: Nuvama Institutional Equities Expect revenue/EBITDA/PAT to grow by 13%/15%/17.6% YoY.

ABB matched forecasts with its third-quarter operating profit on Wednesday and dampened expectations for the fourth quarter while reporting continued decline in orders from China. The maker of industrial drives and motors posted a 13% increase in its operational earnings before interest, tax and amortisation (EBITA) to $1.4 billion during the three months to Sept. 30, in line with a company-gathered consensus of forecasts. Revenues at the company, which competes with Germany's Siemens and France's Schneider Electric rose 8% on a comparable basis to $8 billion, slightly below analysts' forecast for $8.1 billion. ABB reported net income of $882 million, below the $919 million consensus forecast. ABB, a big supplier to industry, is seen as a bellwether for the broader global economy, with its products being used in ships, ports, factories and transport systems. The group said its order intake fell 2% during the quarter with double-digit growth in the United States, its biggest market, partially helping to offset a decline in China, ABB's second-largest market. «Orders in China declined at a low single-digit comparable growth rate particularly hampered by weakness in robotics and construction demand,» Chief Executive Bjorn Rosengren said in a statement. ABB said it anticipated low- to mid-single digit comparable revenue growth in the fourth quarter.

STOCKHOLM (Reuters) -Truck maker Volvo (OTC:VLVLY) reported on Wednesday a bigger than estimated rise in adjusted operating profit and said it expected the major European and North American heavy trucks markets to be strong this year but would slow next year.

Investing.com-- Shares of Chinese electric vehicle maker BYD surged on Wednesday after it said it expects its third-quarter net profit to potentially double on robust vehicle sales and improved margins.

(Reuters) — China's economy grew at a faster-than-expected clip in the third quarter from a year earlier, official data showed on Wednesday, suggesting the recent recovery may carry enough steam to reach Beijing's full-year growth target.

Investing.com — United Airlines reported Tuesday third-quarter results that topped estimates, but Q4 guidance fell short of estimates as higher fuel costs and the suspension of Tel Aviv flights are expected to weigh. 

Investing.com-- Gold prices steadied after early declines on Tuesday as markets hunkered down before several upcoming cues on the U.S. economy, as well as a series of addresses from Federal Reserve officials.