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10 Latest Earnings You Should Check Out

In this article, we will take a look at the 10 latest earnings you should check out. If you want to see some more companies that recently posted their financial results, go directly to 5 Latest Earnings You Should Check Out.

The US stock market got an expected jolt today after the Fed raised interest rates by another 75 basis points. But what the market was not expecting came after the hike when Jerome Powell said that the Fed might move to smaller hikes but stressed that it would not mean the institution was moving away from its hawkish stance of rate hikes.

Meanwhile, healthcare giant CVS Health Corporation (NYSE:CVS), semiconductor behemoth Advanced Micro Devices, Inc. (NASDAQ:AMD) and energy company Devon Energy Corporation (NYSE:DVN) caught investors’ attention this morning following their earnings reports.

If we look at their performance, CVS Health Corporation (NYSE:CVS) and Devon Energy Corporation (NYSE:DVN) beat profit and sales expectations for their respective quarters. On the other hand, Advanced Micro Devices, Inc. (NASDAQ:AMD) delivered mixed results for Q3, citing fading PC demand.

Many other stocks, such as Electronic Arts Inc. (NASDAQ:EA) and Airbnb, Inc. (NASDAQ:ABNB), were also trending on Wednesday after their recent earnings. Check out the complete article to see the key financial highlights of these companies.

Photo by Chris Liverani on Unsplash

10. Paramount Global (NASDAQ:PARA)

Number of Hedge Fund Holders: 42

Paramount Global (NASDAQ:PARA) missed financial expectations for the third quarter amid weak ad sales. As a result, the company’s shares plunged to a new 52-week low after the opening bell on Wednesday.

The entertainment company reported adjusted earnings of 39 cents per share, a sharp decline from adjusted earnings of 76 cents per share in the year-ago period. In addition, Paramount Global (NASDAQ:PARA) posted revenue of $6.92 billion, up 5 percent on a year-over-year basis. The results came in below the consensus of 43 cents per share for earnings and $7.01 billion for revenue.

Among other updates, Paramount Global (NASDAQ:PARA) reported that its video-on-demand streaming service Paramount+ added 4.6 million subscribers during the quarter. The growth was primarily driven by sports content, including NFL and soccer.

9. Electronic Arts Inc. (NASDAQ:EA)

Number of Hedge Fund Holders: 46

Shares of Electronic Arts Inc. (NASDAQ:EA) gained value on massive volume this morning following its fiscal second-quarter results. The video game company reported adjusted earnings of $1.45 per share, beating estimates of $1.35 per share.

On the downside, total net bookings for the quarter slipped 5.2 percent versus last year to $1.75 billion and missed the consensus of $1.80 billion. In addition, Electronic Arts Inc. (NASDAQ:EA) also lowered its net bookings guidance for the full year primarily due to a strong U.S. dollar.

Electronic Arts Inc. (NASDAQ:EA) projected net bookings in the range of $7.65 – $7.85 billion for its fiscal year 2023, compared to its earlier forecast of up to $8.1 billion in net bookings. The updated outlook is behind the expectations of $7.93 billion.

Speaking on the results, CEO of Electronic Arts Inc. (NASDAQ:EA), Andrew Wilson, said in a statement:

“In Q2, EA delivered strong engagement and deeply immersive experiences across our portfolio, with new EA SPORTS titles and multi-platform live services powering the business. More people than ever before are turning to games as their primary platform for social connection and creativity. With EA’s unrivaled IP, talented teams, and growing player network, we are well-positioned to lead the future of entertainment.”

8. The Estée Lauder Companies Inc. (NYSE:EL)

Number of Hedge Fund Holders: 46

Shares of The Estée Lauder Companies Inc. (NYSE:EL) hit a new 52-week low of $188.10 today. The drop came after the cosmetics giant posted mixed financial results for its fiscal first quarter and trimmed its profit outlook for its fiscal 2023.

The Estée Lauder Companies Inc. (NYSE:EL) attributed the weakness to currency headwinds, lockdown restrictions in China and record inflation. The company reported adjusted earnings of $1.37 per share, down from $1.89 per share in the year-ago quarter but above expectations of $1.33 per share.

In addition, revenue for the quarter fell 11 percent on a year-over-year basis to $3.93 billion, missing expectations of $3.97 billion.

Looking forward, The Estée Lauder Companies Inc. (NYSE:EL) lowered its full-year adjusted earnings outlook to a range of $5.25 – $5.40 per share, well below analysts’ average estimate of $7.39 per share.

7. Mondelez International, Inc. (NASDAQ:MDLZ)

Number of Hedge Fund Holders: 48

Shares of Mondelez International, Inc. (NASDAQ:MDLZ) rose to a nearly two-month high this morning after posting its third-quarter profit and sales above expectations. The snack and beverage giant’s adjusted earnings jumped 15.7 percent on a year-over-year basis to 74 cents per share.

In addition, Mondelez International, Inc. (NASDAQ:MDLZ) posted revenue of $7.76 billion, representing a surge of 8.1 percent over the comparable period of 2021. The results easily exceeded the consensus of 69 cents per share for earnings and $7.42 billion for revenue.

Mondelez International, Inc. (NASDAQ:MDLZ) also lifted its profit outlook for the full year. It projected adjusted EPS growth of 10 percent, up from its earlier guidance in the mid-to-high single-digit percentage growth.

Like Mondelez International, Inc. (NASDAQ:MDLZ), investors were also closely watching CVS Health Corporation (NYSE:CVS), Advanced Micro Devices, Inc. (NASDAQ:AMD) and Devon Energy Corporation (NYSE:DVN) after their recent earnings.

6. Airbnb, Inc. (NASDAQ:ABNB)

Number of Hedge Fund Holders: 57

Airbnb, Inc. (NASDAQ:ABNB) posted strong financial results for the third quarter. However, its sales outlook for the current quarter missed expectations, sending its shares down about 10 percent in mid-day trading Wednesday.

The online lodging marketplace reported adjusted earnings of $1.79 per share, up 46 percent over the same period of 2021. The numbers easily surpassed analysts’ average estimate of $1.47 per share.

Revenue for the quarter also jumped 29 percent on a year-over-year basis to $2.9 billion. On the other hand, analysts expected Airbnb, Inc. (NASDAQ:ABNB) to generate revenue of $2.84 billion.

On the downside, Airbnb, Inc. (NASDAQ:ABNB) projected sales between $1.80 – $1.88 billion for the fourth quarter, representing a growth of 17 – 23 percent on a year-over-year basis. However, the midpoint of the guidance lagged behind the consensus of $1.85 billion.

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Disclosure: None. 10 Latest Earnings You Should Check Out is originally published on Insider Monkey.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

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