5 big earnings reports: BP's record year, Softbank's loss

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By Davit Kirakosyan

Investing.com -- BP reported a record annual profit, leading to further share buybacks and a dividend hike. And here are all 5 of the biggest earnings reports you may have missed on InvestingPro since yesterday's market close. Sign up for real-time earnings coverage.

BP’s Q4 revenue surpasses estimates while EPS misses

BP (NYSE:BP) New York shares were trading more than 3% higher premarket today after the company reported earnings of $27.65 billion, an increase of 115% and the highest in the company's 114-year history. EPS for Q4 was $1.59, missing the Street estimate of $1.66, and revenue totaled $70.36B, coming in better than the Street estimate of $55.74B.

The company hiked its dividend by 10% to 6.61 cents per ordinary share. It also announced an additional $2.75B in share buybacks for Q1. Shares on the LSE (LON:BP) were recently up 4.5%.

Softbank reports an unexpected net loss in Q3

SoftBank Group Corp (TYO:9984) posted a Q3 net loss of ¥783.42B ($1 = ¥132.18), missing the Street estimate for a profit of ¥103.7B, due to its major tech holdings' value decline, with an uncertain outlook for U.S. interest rates offering little relief to the firm. The total loss on investments was ¥511.57B, significantly worse than the ¥156.53B loss seen last year.

Pinterest shares drop on Q4 revenue miss

Pinterest (NYSE:PINS) shares plunged more than 4% premarket today after the company reported a revenue of $877.21 million for Q4, missing the consensus estimate of $887.01M. EPS came in at $0.29, compared to the consensus estimate of $0.27. Monthly active users rose 4% year-over-year to 450M, slightly worse than the Street estimates.

For Q1/23, the company expects revenue to grow low single digits year-over-year. It also announced a share repurchase program of $500M over the next 12 months.

Following the results, several Wall Street analysts raised their price target on the stock, including Wolfe Research with a new price target of $33.00 (from $30.00), Morgan Stanley with a new price target of $22.00 (from $19.00), and KeyBanc with a new price target of $32.00 (from $28.00).

Carlsberg warns of 'challenging' 2023

Carlsberg (CSE:CARLb) said it plans to raise prices this year in response to rising input costs, but warned that it may impact sales in some key markets. The company highlighted that it faces a "challenging year" following a surge in the cost of commodities and energy last year.

The company expects 2023 organic operating profit growth to be between -5% to 5%. The company provided a broad guidance range due to ongoing uncertainty surrounding the impact of the war in Ukraine and China's reopening from COVID-19 restrictions on demand.

The company’s 2022 net loss fell to DKK1.06B from a profit of DKK6.85B in 2021. However, the result was better than analysts' expectations for a loss of DKK1.14B.

Activision Blizzard beats Q4 estimates

Activision Blizzard (NASDAQ:ATVI) shares rose nearly 2% premarket today after the company reported its Q4 results, with EPS of $1.87 coming in better than the consensus estimate of $1.51. Revenue was $2.33B. Net bookings came in at $3.57B, beating the consensus estimate of $3.19B.

Activision Blizzard is still in the process of completing its $69B sale to Microsoft (NASDAQ:MSFT), but there are regulatory worries about possible antitrust actions which are making it difficult to finalize the deal. Microsoft anticipates that the UK's competition watchdog will oppose the deal.

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