Here are companies that released better-than-expected quarterly earnings reports before the U.S. market opens on Thursday:
Oil Giant Shell Makes Record $40 Billion Annual Profit
Shell delivered a record $40 billion profit in 2022, it said on Thursday, capping a tumultuous year in which Russia's invasion of Ukraine allowed the energy giant to hand shareholders unprecedented returns.
The British company also posted record fourth-quarter profit of $9.8 billion on the back of a strong recovery in earnings from its liquefied natural gas (LNG) trading, beating analyst forecasts for an $8 billion profit.
Annual annual earnings reached $39.9 billion, doubling from a year earlier and far exceeding the previous record of $31 billion in 2008.
Sony Lifts Outlook Closer to Record Level, Raises PS5 Sales Target
Japan's Sony Group Corp on Thursday edged up its annual profit forecast, helped by a strong showing for its videogame division, and raised PlayStation 5 game console sales target by one million units to 19 million for the business year to March.
The company said it now expects operating profit for the year to March 31 to total 1.18 trillion yen ($9.17 billion), up 1.7 per cent from its previous forecast of 1.16 trillion yen.
Sony said sales of its PS5 consoles came to 7.1 million units in October-December quarter, which overlaps with the critical year-end shopping season, up sharply from 3.9 million units a year earlier.
Shale Oil Producer ConocoPhillips Posts Higher Fourth-Quarter Profit
ConocoPhillips reported a jump in fourth-quarter profit on Thursday, as the U.S. shale producer benefited from higher prices for its crude oil on tight supplies and robust demand.
Total average realized price was $71.05 per barrel of oil equivalent, ConocoPhillips said, 8% higher from a year earlier.
The Houston-based company reported earnings of $3.2 billion, or $2.61 per share, for the three months ended Dec.31, compared with $2.6 billion, or $1.98 per share, a year earlier.
Bristol-Myers Squibb Reports Revenue of $11.4B Beats By $200M
Bristol-Myers Squibb reported quarterly earnings of $1.82 per share which beat the analyst consensus estimate of $1.72 by 5.81 percent. This is a 0.55 percent decrease over earnings of $1.83 per share from the same period last year.
The company reported quarterly sales of $11.41 billion which beat the analyst consensus estimate of $11.20 billion by 1.84 percent. This is a 4.83 percent decrease over sales of $11.98 billion the same period last year.
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