This week, a host of corporate heavy hitters flaunted their latest Q1 hauls. From old machinery, to America’s flagship soft drink, to everyone’s favorite tech juggernaut, we got some big earnings announcements comin’ at ya.
Can you dig it? Caterpillar sales crushed Q1 expectations
‘Dozer giant Caterpillar Inc. sales jumped 31% in Q1 as construction and mining markets continue to flourish worldwide.
The heavy machinery maven’s $12.9B quarterly revenue was lifted in part by a stronger euro and yuan, and has CAT thinking they could earn as much as $10.75 a share in 2018 — $2 more than their previous forecasts.
Though, according to the Wall Street Journal, the company did warn that trade tensions with China and the US could “darken the outlook for the rest of the year.”
Diet Coke is back — thanks to millennials
Yesterday, Coca-Cola reported quarterly earnings of $7.6B, up from Reuters’ $7.34B forecast, due in part to the success of their millennial-focused remix of the classic Diet Coke.
Many laughed at the desperate-seeming ‘skinny-canned’ relaunch when the star-studded commercials first graced screens earlier this year, but new fun flavors like Feisty Cherry, Twisted Mango, and Zesty Blood Orange apparently contributed to a 5% uptick in Q1 organic sales. So, who’s laughing — wait — Zesty Blood Orange?
Ok, it’s still us.
Spoiler alert: Google’s still killin’ it
Despite the recent backlash against Silicon Valley and widespread data malfeasances, Google’s parent company Alphabet is still putting up googleiscious numbers.
Their net income grew by a whopping 73%, to $9.4B, and their revenue rose 26% to $31B, up from $24.7B last year.
Google continues to dominate online advertising and is expected to command more than 37% of the US digital ad market ($40B this year), according to eMarketer — their closest competitor? Facebook with 20% of the market.