AI Drives Corporate Growth, Mixed Results for Tech & Retail

Corporate earnings reports for Q3 show strong performance, with 99% of S&P five hundred companies reporting results. Earnings per share are estimated to jump by 13.4%, marking the fourth consecutive quarter of double-digit growth. Oracles AI costs exceeded expectations, causing its stock to dip, while Broadcoms AI semiconductor revenue surged by 74% year over year. Costco delivered better-than-expected results, with e-commerce sales growing by 20.5%. RHs stock jumped on growth and international market investments, despite missing earnings expectations. Lululemons stock popped 10% on strong earnings and an upbeat full-year profit forecast, but its CEO will step down at the end of January. Overall, the corporate landscape is generally positive, with AI driving growth and investment.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.