Ford Motor (F) reported adjusted quarterly profit of 27 cents per share, four cents short of forecasts, thought the automaker’s revenue did come in slightly above forecasts. Ford also cut its full-year forecast, pointing to slower sales in China as well as trade tariffs, as well as continued struggles in the European market.
Gilead Sciences (GILD) reported adjusted quarterly profit of $1.91 per share, beating the consensus estimate of $1.56. The drug maker’s revenue was also above Street forecasts. Separately, Gilead announced that CEO John Milligan and Chairman John Martin would be stepping down by the end of the year. Gilead is launching a search for a new CEO.
Visa (V) came in 11 cents above estimates with adjusted quarterly profit of $1.20 per share, while revenue also topped forecasts as more customers spent money using their credit cards. However, Visa also saw weaker than expected payment volume during the quarter.
Mondelez (MDLZ) beat estimates by two cents with adjusted quarterly profit of 56 cents per share, though the snacks maker’s revenue was just shy of forecasts. Mondelez also raised its full-year forecast on improving sales trends, and its organic revenue growth topped analyst projections.
Mattel (MAT) lost 56 cents per share for its latest quarter, a larger loss than the 30 cents analysts had been projecting. The toy maker’s revenue also missed forecasts, hurt by the Toys R Us liquidation, and the company also announced it would be cutting 2,200 jobs or about 22 percent of its global non-manufacturing workforce.
Advanced Micro Devices (AMD) came in a penny ahead of estimates with adjusted quarterly profit of 14 cents per share, while the chip maker’s revenue was also above estimates. AMD was helped by a jump in demand for personal computers.
