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Nvidia had revenue of $22.1 billion in its most recent quarter

Nvidia had revenue of $22.1 billion in its most recent quarter. Net profit was $12.29 billion, compared with $1.41 billion a year earlier. The company began its fiscal year ended Jan. 28 with quarterly sales of $7.19 billion and wound up with more than three times that amount at the end of it, capping one of the quickest rises in corporate history.

Coinbase Global turned a quarterly profit for the first time in two years

Coinbase Global turned a quarterly profit for the first time in two years, lifted by rising crypto prices and higher interest income earned on its stablecoin. The biggest cryptocurrency exchange in the U.S. earned $273 million, or $1.04 a share, in the fourth quarter, versus a year-earlier loss of $557 million. For the entirety of 2023, the company generated $95 million in net income on $3.1 billion in total revenue. Total trading volume, a crucial revenue driver for Coinbase, rose to $154 billion in the fourth quarter from $145 billion a year earlier.

McDonald’s reported net income of $2 billion for its fourth quarter, up 7% from the same period a year earlier

McDonald’s said Monday that global same-store sales, or sales from stores in operation at least 13 months, grew 3.4% in the three months ended Dec. 31, compared with the 4.7% gain expected by analysts polled by FactSet. The Chicago-based company reported net income of $2 billion for its fourth quarter, up 7% from the same period a year earlier. Earnings per share were $2.95 when adjusting for charges related to layoffs conducted by McDonald’s last year and other one-time items.

Disney reported $23.5 billion in revenue for its December quarter

Disney’s direct-to-consumer business lost $138 million in the December quarter, compared with a loss of $984 million a year earlier. Overall, Disney reported $23.5 billion in revenue for its December quarter, little changed from the year-earlier period and slightly lower than the $23.7 billion that analysts polled by FactSet had predicted. Net income rose to $1.91 billion, up from $1.28 billion a year earlier.

Shell’s profit dropped to $1.38 billion from $6.15 billion

For the fourth quarter, Shell’s profit on a net current-cost-of-supplies basis dropped to $1.38 billion from $6.15 billion in the preceding three-month period, reflecting lower refining margins, margins from crude and oil products trading, and higher operating expenses. Still, the London-based energy giant said Thursday that it would buy back $3.5 billion in shares this quarter and hiked its fourth-quarter dividend by 20% to 34.40 cents a share, in line with its promise of lofty shareholder returns despite slipping commodity prices. The oil-and-gas major posted $20.28 billion in full-year profit measured on a net current-cost-of-supplies basis—a metric similar to the net income that U.S. oil companies report. This compares with $41.56 billion in 2022 when oil and gas prices soared after Russian invaded Ukraine.

Sony net profit increased 13% from a year earlier to 363.92 billion yen

Sony net profit increased 13% from a year earlier to 363.92 billion yen ($2.41 billion) for the three months ended Dec. 31, thanks partly to higher earnings from the image-sensor and music businesses. That beat the estimate of Y319.23 billion in a poll of analysts by data provider Visible Alpha. Third-quarter revenue increased 22% from a year earlier to Y3.748 trillion.

Amazon said that profit in the three months through December surged to $10.6 billion

Amazon said that profit in the three months through December surged to $10.6 billion, its strongest level in two years—from a meager $278 million in the same quarter the previous year. Revenue rose 14% to $170 billion. Sales in the Amazon Web Services cloud-computing arm, a critically important profit center for Amazon, increased 13% in the fourth quarter to $24.2 billion, matching expectations. The division’s operating profit rose nearly 38%.

Snap said that revenue grew by less than 5% to about $1.36 billion

Snap said that revenue for the same period grew by less than 5% year over year to about $1.36 billion—more than 1% short of analysts’ targets. Snap’s slightly disappointing revenue forecast for the first quarter still projects year-over-year growth of nearly 13% at the midpoint—the fastest pace the company has seen in nearly two years.

GM’s fourth-quarter net income rose 5%, to $2.1 billion

General Motors provided Wall Street with a surprisingly bullish profit outlook for 2024. GM forecast operating profit of $12 billion to $14 billion—higher than analysts expected—after posting $12.4 billion in 2023. GM’s fourth-quarter net income rose 5%, to $2.1 billion, largely because of some one-time expenses that dented profitability a year earlier. Its operating income, however, fell 54% over the prior-year period, hurt primarily by a six-week factory strike and losses stemming from its budding electric-vehicle business. Pretax earnings per share, adjusted for one-time items, were $1.24, better than the $1.16 average estimated by analysts, according to FactSet. Revenue was flat at about $43 billion.

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