Here’s a roundup of the significant stock movements following the latest earnings reports:
Meta Platforms
- Movement: +4%
- Details: Meta Platforms exceeded revenue and earnings expectations. The company reported earnings of $5.16 per share and $39.07 billion in revenue for the recent quarter. They also provided a strong forecast for the current period.
Qualcomm
- Movement: +6%
- Details: Qualcomm beat Wall Street’s fiscal third-quarter estimates, posting adjusted earnings of $2.33 per share on $9.39 billion in adjusted revenue. The company’s guidance for the current quarter is between $9.5 billion and $10.3 billion.
Arm Holdings
- Movement: -10%
- Details: Despite beating both top- and bottom-line estimates for the fiscal first quarter, Arm Holdings forecasted adjusted earnings for the fiscal second quarter between 23 and 27 cents per share, missing the 27 cents per share expected by analysts.
Teladoc
- Movement: -14%
- Details: Teladoc reported second-quarter revenue of $642 million, falling short of the $650 million forecast. The company also withdrew its full-year and long-term outlook, contributing to the drop.
Etsy
- Movement: +<1%
- Details: Etsy’s revenue exceeded expectations, but its adjusted earnings fell short of the consensus estimate of 45 cents per share, coming in lower by 4 cents.
Cheesecake Factory
- Movement: +<1%
- Details: Cheesecake Factory’s adjusted earnings for the second quarter were $1.09 per share, beating the $1 per share estimate. However, revenue missed expectations at $904 million versus the $909.2 million forecast.
eBay
- Movement: -1%
- Details: Despite beating both top- and bottom-line estimates for the second quarter, eBay’s shares dipped slightly. The company also projected third-quarter adjusted earnings between $1.15 and $1.20 per share, higher than the $1.13 expected.
Western Digital
- Movement: -4%
- Details: Western Digital’s shares fell after the company issued lower-than-expected revenue guidance for the fiscal first quarter, ranging from $4 billion to $4.2 billion. Analysts had anticipated $4.2 billion.
Lam Research
- Movement: -2%
- Details: Lam Research reported better-than-expected earnings, but its shares slipped slightly. The company provided in-line earnings per share guidance for the current quarter.
MGM Resorts
- Movement: -<1%
- Details: MGM Resorts posted second-quarter results that exceeded expectations with adjusted earnings of 86 cents per share and $4.33 billion in revenue, slightly below the anticipated $4.22 billion.
Kyndryl Holdings
- Movement: +<1%
- Details: Kyndryl Holdings reported revenue of $3.74 billion, missing the $3.79 billion expected by analysts. The stock saw a marginal increase despite mixed results.
C.H. Robinson
- Movement: +8%
- Details: C.H. Robinson’s shares jumped after posting mixed second-quarter results. The company’s adjusted earnings exceeded estimates, though revenue fell short of the $4.53 billion forecast
