Block shares tumbled on Friday despite the payments solution provider posting better-than-expected second quarter financial results that topped Wall Street estimates.
For 2Q, Block posted year-over-year revenue growth of 26% to $5.53 billion of which Bitcoin revenue was $2.39 billion.
Cboe Global Markets reported a rise in its second quarter profits with the exchange operator enjoying higher trading volumes during the period as markets rebounded from last year.
Chicago-based Cboe, which operates four US-listed cash equity options markets, including the largest options exchange in the country, the Cboe Options Exchange, posted 2Q revenue of $468.1 million, a 10% increase from the corresponding quarter last year.
Cinemark Holdings (NYSE:CNK), Inc shares rose 3% to $17.80 in early Friday trading as the cinema operator saw its second-quarter revenue rise 27% year over year to $942.3 million, as 24% more moviegoers paid to see films at its theaters.
The company also swung to a 2Q profit of $119.1 million, or $0.80 a share, from a loss of $73.4 million, or $0.61 a share, during the same period last year.
Booking Holdings Inc (NASDAQ:BKNG) is tipped for more upside after its quarterly earnings impressed, with stockbroker Wedbush raising its target price.
“We continue to view Booking as our top pick within online travel and believe the company is best positioned for the current demand environment given its international mix and accommodation mix,” Wedbush analyst Scott Devitt said in a note.
FuboTV shares soared at the open on Friday after the sports-first live TV streaming platform posted a second-quarter earnings beat and raised its full-year 2023 guidance for North America.
The company’s revenue of $305 million for 2Q exceeded the consensus analyst expectation of $301.9 million per Zacks Consensus Estimate. This was a 41% increase over the year-ago quarter.
TELUS Corporation (TSX:T) announced on Friday that its second-quarter 2023 consolidated operating revenue rose 13% year over year to $4.9 billion, driven primarily by higher service revenues in its TELUS technology solutions and TELUS International segments, but falling short of the Zachs consensus estimate.
The communications technology company, though, saw its earnings per share (EPS) for the period drop 59% to $0.14, on higher depreciation and amortization, interest, and restructuring costs, which also missed the consensus forecast of $0.18.
Activist investor Carl Icahn has expressed regrets over his investment firm Icahn Enterprises LP (NYSE:IEP) short-selling strategy in recent years, saying they hedged far more than was necessary.
He wrote in a letter to unitholders along with the release of the firm's second-quarter financial results: “As compelling as the above numbers are, they would have been far more impressive had we not strayed over the past several years from our activist methodology and shorted (hedged) far more than was necessary.
Content collaboration vendor Dropbox Inc (NYSE:DBX) reported robust 2Q earnings that came in above its projected metrics.
The company reported earnings of $0.51 per share, surpassing Wall Street's estimate of $0.45 cents per share. Revenue also grew by 9% to $622.5 million, exceeding analyst projections of $613.6 million.
AMC Networks (NASDAQ:AMCX) shares were higher in premarket trading on Friday as solid growth in its streaming division during the quarter outweighed an earnings miss.
Shares of the New York-based company, known for IFC and the Sundance Channel, were up nearly 10% on Friday morning in New York at $13.49.
Apple posted an earnings beat for the fiscal third quarter ended on July 1, 2023, as record services revenue mostly offset declines in iPhone, iPad, and Mac sales.
For 2Q, the company reported earnings per share of $1.26, up 5% from the year-ago quarter and ahead of the Street expectation of $1.19. Revenue fell 1% year-over-year to $81.8 billion, which was also ahead of estimates of $81.36 billion.
Monster Beverage Corporation unveiled its second-quarter 2023 financial results after the bell Thursday, posting double-digit revenue growth but coming up short of expectations.
Revenue was $1.85 billion, up 12.1% year-over-year but just below Street expectations of $1.87 billion. Earnings were $0.39 per share, up 53% from the year-ago quarter and narrowly ahead of the consensus estimate of $0.37, according to Zacks.
Draftkings Inc (NASDAQ:DKNG) stock shot up in afterhours trading as it reported an 88% jump in second-quarter revenue and earnings ahead of management’s prior expectations.
It reported US$875 million of revenue for the period with the company boasting robust customer retention, ‘efficient’ new customer acquisition, and product innovation.
Coinbase Global Inc (NASDAQ:COIN) described the second three months of its financial year as a ‘strong quarter of execution’ as it reported positive earnings (adjusted EBDITA), with improved financials largely driven by cost savings through staff layoffs.
The crypto exchange operator reported US$194 million of positive earnings, versus a US$151 million loss in the same period last year, revenue meanwhile came in at US$663 million down from US$803 million in 2022.
GoDaddy shares have skidded in extended trading after the web hosting company missed second-quarter earnings expectations.
The company posted earnings of $0.54 per share, down from $0.56 a year earlier and short of Street expectations of $0.57. Revenue was $1.05 billion, up 2.9% year-over-year and below estimates of $1.06 billion.
Airbnb’s second-quarter results beat expectations on the top and bottom lines, and the company issued promising guidance lifted by increasing international travel.
The property rental company posted revenue of $2.5 million, 18.1% higher year-over-year and above expectations of $2.42 million. Earnings were $0.98 per share, up from $0.56 a year earlier and topping expectations of $0.80.
Analysts at Wedbush have raised their price target for DoorDash after it reported strong second quarter 2023 results.
For the quarter, DoorDash posted a loss per share of $0.44, an improvement from a loss per share of $0.72 in the comparable quarter in 2022.
Anheuser-Busch InBev (NYSE:BUD) shares moved higher on Thursday despite the Bud Light brewer reporting a drop in its second quarter profits after some consumers recoiled over its decision to partner with transgender influencer Dylan Mulvaney in a marketing campaign.
The company's attributable profit fell 79% from US$1.6 billion to US$339 million year on year, as sales to retailers declined by 14% on the back of the lower demand, AB InBev reported.
Warner Bros. Discovery lost 1.8 million streaming subscribers in the second quarter as it launched its combined streaming platform Max in the United States in May.
During 2Q, the company saw a loss of 1.8 million subscribers above the Wall Street estimate of 1.6 million.
Hyatt Hotels (NYSE:H) shares fell more than 9% after the global hotel chain reported disappointing earnings for the second quarter.
It reported adjusted earnings per share of $0.82, up from $0.46 in the year-ago quarter but below the Street expectation per Zacks Consensus Estimate of $0.83.
Shares of Sunrun Inc (NASDAQ:RUN) are shining Thursday after the company posted an unexpected quarterly profit.
The solar energy services provider reported net income of $55.5 million, or $0.25 per share, whereas analysts had predicted a loss of $0.25 per share. In the year-ago quarter, Sunrun posted a loss of $12.4 million, or $0.06 per share.
ConocoPhillips (NYSE:COP) stock traded down in Thursday’s premarket deals as it confirmed a steep decline in financial metrics for the second quarter, reflecting softer crude oil pricing compared to last year's peaks.
The Houston-headquartered oiler reported US$2.2 billion in earnings (adjusted EBITDA), US$1.84 per share, from US$5.1 billion and US$3.96 respectively a year ago.
Hasbro (NASDAQ:HAS) stock traded in positive territory after reporting a better-than-feared revenue decline in its second quarter, helped by new products for the Furby and Magic: The gathering IP.
Second quarter revenue was down 10% at US$1.21 billion, bringing the first half revenue total to US$2.211 billion.
Warner Bros Discovery Inc (NASDAQ:WBD) investors lost their early enthusiasm as the stock opened to trade down 2.4% despite the media conglomerate's improved balance sheet in the second quarter.
Post-acquisition housekeeping saw the group report a US$1.24bn net loss, including some US$1.65 billion of amortization and US$146 million of tax restructuring expenses.
Expedia (NASDAQ:EXPE) opened more than 10% lower on Thursday as it reported second-quarter revenue that missed Wall Street estimates.
The travel booking platform posted record 2Q revenue of $3.36 billion, up 6% from $3.2 billion in the year-ago quarter but falling short of the consensus analyst estimate of $3.37 billion.
Information Services Corporation (TSX:ISV) (ISC) has reported a 5% jump in second-quarter revenue to $53.5 million driven by increased services revenue, spurred by transaction and customer growth in regulatory solutions and additional third-party revenue in technology solutions resulting from progress on both ongoing and new contracts.
The company noted that registry operations also contributed to its revenue boost, as three full months of results from the Ontario Property Tax Assessment Services division were included, compared to just one month in the year-ago quarter following its acquisition on June 1, 2022.
Immunic, Inc announced that at the end of its second quarter to June 30, 2023, it had cash, cash equivalents and investments of $77.3 million with which it expects to be able to fund its operations into the fourth quarter of 2024.
"During the second quarter, we reported important clinical and preclinical data from our two, lead pipeline programs, including the most advanced drug candidate, vidofludimus calcium (IMU-838), as well as IMU-856," Daniel Vitt, CEO and President of Immunic, said in a statement.
Moderna Therapeutics Inc (NASDAQ:MRNA) stock points higher in premarket as it reported better than feared second quarter earnings
The mNRA vaccine maker reported a net loss of US$1.4 billion on US$300 million of revenue in its second quarter, representing a US$3.62 loss per share – versus market expectations of US$3.84 per share.
Qualcomm stock dipped in extended trading after the company’s third-quarter results disappointed in terms of sales and guidance.
The company reported adjusted earnings of $1.87 per share, above Street expectations of $1.81 but drastically short of the $3.29 per share it reported a year earlier. Revenue was $8.44 billion, short of the $8.5 billion street consensus.
HubSpot shares fell in after-hours trading on Wednesday despite the customer relationship management platform provider posting a second quarter earnings beat and raising its full-year guidance.
For 2Q, the company said its revenue rose 25% year-over-year to $529.1 million, above the consensus analyst expectation of $504.5 million, according to Zacks Consensus Estimate.
Ferrari (NYSE:RACE) zoomed past analyst expectations for its second quarter earnings, but the Italian luxury automaker’s stock took a hit as investors opted to take advantage of its strong share price performance this year.
For the quarter, Ferrari (NYSE:RACE) reported an adjusted EBITDA of 589 million euros ($645.4 million), exceeding analyst estimates and marking a 31.9% increase from the previous year. Revenue for the quarter was 1.47 billion euros ($1.61 billion), up 14.1% from the same period last year, with 3,392 vehicles sold.
Shares of Match Group (NASDAQ:MTCH) jumped after the bell Tuesday as Tinder's parent company reported better-than-expected revenue, but Wednesday has brought the stock back down to Earth.
The launch of more flexible subscription plans, including cheaper premium plans for shorter durations, helped Match generate revenue of $830 million in the second quarter, compared to Street estimates of $811.4 million. Earnings were $0.48 per share, beating expectations of $0.45.
Cameco Corporation (TSX:CCO) shares tumbled more than 7% after the Saskatoon, Saskatchewan-based uranium producer posted mixed results for the second quarter.
Revenue fell 14% year-over-year from $558 million to $482 million, however, this was ahead of the consensus analyst expectation of $352.87 million.
Yum! Brands (NYSE:YUM), the parent company of quick service restaurants KFC, Taco Bell and Pizza Hut, posted a profit beat for the second quarter, sending its shares higher.
It reported earnings per share excluding special items of $1.41, ahead of the Street estimate per Zacks Consensus Estimate of $1.23 and up 33% from the year-ago quarter.
e.l.f. Beauty, Inc. shares opened 15% higher after its first-quarter results beat expectations and the company raised its full-year guidance.
For the three months ended June 30, 2023, the cosmetics brand reported a 76% jump in net sales to $216.3 million, which it said was driven by the strength of its retailer and e-commerce channels.
Pinterest Inc (NYSE:PINS) is seeing impressive user growth, particularly among Gen Z users, according to the company’s CEO Bill Ready.
Following the release of the image-sharing social media site’s second-quarter financial results on Tuesday, Ready told CNBC that the platform saw its best user growth in over two years during the quarter.
CVS Health Corp (NYSE:CVS) posted a second-quarter earnings beat as it rolled out a restructuring plan aimed at cutting costs and streamlining its operations following its recent acquisitions of healthcare services company Signify Health and primary care provider Oak Street Health.
Revenue for the quarter rose 10.3% year-over-year to $88.9 billion, above the Wall Street consensus estimate of $86.41 billion, according to FactSet.
Starbucks reported fiscal third-quarter earnings that surpassed Street expectations but its revenue and same-store sales disappointed.
The coffee titan posted revenue of $9.17 billion, up 12% year-over-year but short of analyst projections of $9.29 billion. Earnings were $1 per share, up 19% from 2022 and beating expectations of $0.95.
Advanced Micro Devices (AMD) shares moved higher in after-hours trading as the semiconductor manufacturer’s second quarter financial results topped expectations on the top and bottom lines.
For the quarter, the company posted revenue of $5.36 billion, down 18% from $6.55 billion in the year-ago quarter but ahead of the Wall Street estimate of $5.32 billion, per Zacks Consensus Estimate.
Molson Coors Beverage Company (NYSE:TAP) shares fell after its second quarter revenue fell short of expectations, despite the Canadian-American beverage and brewing company reporting its single strongest quarter of sales since the merger of Molson and Coors in 2005.
Molson Coors shares fell 5.5% to US$65.90 late morning on Tuesday.
BP shares traded lower after the energy giant posted an about 70% year-over-year drop in profit for the second quarter.
For 2Q, BP’s underlying replacement cost profit was $2.59 billion, down from $8.45 billion in the year-ago quarter and $4.96 billion in the first three months of the year.
Vivakor Inc (NASDAQ:VIVK) has announced first-quarter 2023 revenue of $15.5 million, compared to nil for the same period last year, which the company attributed primarily to oil and natural gas liquid sales from its Silver Fuels Delhi LLC operations.
The clean energy technology firm also realized a gross profit for the quarter of $1.5 million and saw its operating loss shrink 40% year over year to $1.1 million.
Caterpillar Inc. (NYSE:CAT) has reported better-than-expected profit in the second quarter, defying concerns of a global economic slowdown.
The company's adjusted earnings of $5.55 per share exceeded analysts' estimates, driven by strong demand from the construction, mining, and energy sectors.
Merck & Co Inc (NYSE:MRK) saw strong sales during the second quarter for its cancer drug Keytruda and HPV vaccine Gardasil, leading the pharmaceutical company to raise its full-year guidance.
Keytruda's sales rose by 19% from the previous year, reaching $6.27 billion, while Gardasil saw a significant 47% increase in quarterly sales, driven by higher demand in China.
Pfizer Inc (NYSE:PFE) reduced its full-year sales forecast by $1 billion following a decline in sales for Covid-related products.
The pharmaceutical firm faced challenges in the second quarter as sales of its Covid pill and other key products underperformed, raising concerns about the company's ability to achieve its full-year sales guidance of $21.5 billion.
Uber Technologies Inc (NYSE:UBER) recorded its first-ever operating profit after ridership increased to record levels in its second quarter.
The ride-sharing company reported better-than-expected net income in the second quarter, signaling progress on its profitability goals and moving beyond its cash-burning startup phase.
ON Semiconductor shares moved higher on Monday after the chipmaker unveiled above-market third quarter guidance on its expectation of rising demand for silicon carbide.
The Arizona-based chipmaker expects to post 3Q revenue between $2.1 billion to $2.2 billion, above the $2.07 billion expected by Wall Street analysts, according to Refinitiv data.
SoFi Technologies shares rose almost 17% after the FinTech firm raised its 2023 full-year guidance and reported better-than-expected second quarter earnings on deposit growth and lower loan funding costs.
For the year, the company now expects to generate revenue between $1.974 and $2.034 billion, up from its previous guidance of $1.955 to $2.02 billion.