Earnings

Why fast-food companies like KFC and Chick-fil-A are betting on chicken tenders again

David Bale3 months ago03 mins

Fast-food companies like Yum! Brands’ KFC and McDonald’s are getting back into chicken tenders as a way to attract consumers with a low-risk, high-reward bet on a familiar favorite. Nearly half of all fast-food restaurants served the chicken item as of the third quarter, up 5.7% from the same period in 2019, according to…

Costco beats on earnings as e-commerce sales jump

David Bale3 months ago08 mins

Costco on Thursday beat Wall Street’s quarterly earnings and sales estimates, as e-commerce sales jumped and shoppers bought jewelry, luggage and furniture. On the membership-based warehouse club’s earnings call, Chief Financial Officer Gary Millerchip said customers have remained selective with purchases. But, he added, they have shown they’re willing to spend, especially as inflation comes…

Broadcom shares rise 13% on profit beat, ‘massive’ opportunity in AI

David Bale3 months ago03 mins

Broadcom CEO Hock Tan. Lucas Jackson | Reuters Broadcom reported better-than-expected fourth-quarter earnings on Thursday and said artificial intelligence revenue for the year more than tripled. The chipmaker’s stock jumped after Broadcom CEO Hock Tan said the company is developing custom AI chips with three large cloud customers. The shares were up 13% in extended…