Ranking Big Tech’s Earnings Performance
Apple, Amazon, Alphabet, and Facebook all reported earnings Thursday. Here is a look at how each of them fared.
Why Tesla’s Profit Win Streak Matters and Makes It Look Like Amazon
Tesla shares continue to defy gravity following a beat on Q2 expectations. Revenues for the quarter were $6 billion, above consensus of $5.2 billion. The big story, though, is that Tesla notched its 4th consecutive quarter for the first time ever. Non-GAAP EPS was $2.18 vs. consensus loss of $0.48.
Snap’s “Puzzling” Earnings Results Cool Off the Stock and Raise Questions About TikTok
Snap delivered better-than-expected revenue for the latest quarter despite shrinking ad budgets from major advertisers who are struggling with the pandemic, but the social media company disappointed investors with slower-than-anticipated user growth and conservative guidance.
Why Wall Street Got Netflix Earnings Wrong
Weak Q3 subscriber guidance is overshadowing a record 2nd quarter for Netflix. Q3 guidance of 2.5 million was lower than 5.3 million consensus on Wall Street due to demand pull-forward related to the pandemic, according to some analysts.
Twitter Earnings Preview: Engagement vs. Ad Strength
The question for Twitter heading into earnings on Thursday is whether engagement on the social media app was enough to outweigh a digital advertising environment crippled by the coronavirus. Wedbush analyst Michael Pachter, who has a NEUTRAL rating and 12-month price target of $30, sees upside for user growth but remains pessimistic about broader advertising trends.
Nike’s Reliance on Wholesale a Top Risk Despite Digital Growth
Optimism that was building up leading into earnings has been deflated following weaker than expected fourth quarter results and a disappointing 1H21 outlook. While digital sales growth served as a silver lining, investors are zeroing in on the 38% sales drop and surprise earnings loss.
The Case for Buying Nike Ahead of Earnings
Nike is heading into its earnings report in a position of strength and will likely emerge from COVID-19 with a competitive edge over its rivals, according to a number of Wall Street analysts. Nike delivers its quarterly results on Thursday, and analysts are pumping up their price targets in anticipation of positive near-term performance.
Why Under Armour Could Drop to $4 a Share
Global store closings and weakened demand for athletic wear sparked by COVID-19 are only a fraction of Under Armour’s long list of problems. One analyst sees shares falling into penny stock territory in the next 12 months.