10 Stocks Drawing Attention on Earnings Reports

In this article, we will take a look at the 10 stocks drawing attention on earnings reports.

Some of the most valuable companies, including Alphabet Inc. (NASDAQ:GOOG), Advanced Micro Devices, Inc. (NASDAQ:AMD), PayPal Holdings, Inc. (NASDAQ:PYPL) and Starbucks Corporation (NASDAQ:SBUX), recently posted their financial results for the December quarter.

Shares of Alphabet and Advanced Micro Devices climbed on Wednesday, January 2, following their upbeat quarterly performance. On the other hand, shares of both PayPal and Starbucks turned red after missing profit expectations.

In addition, several other companies, including Electronic Arts Inc. (NASDAQ:EA), Gilead Sciences, Inc. (NASDAQ:GILD) and Match Group, Inc. (NASDAQ:MTCH), were seen trading on heavy volume following their earnings reports.

Now, let’s review the detailed financial performance of these companies.

Stocks Drawing Attention on Earnings Reports

10. Entegris, Inc. (NASDAQ:ENTG)

Number of Hedge Fund Holders: 26

Shares of Entegris, Inc. (NASDAQ:ENTG) rose over seven percent on Tuesday, February 1, 2022, after announcing better-than-expected financial results for the fourth quarter. The company earned 96 cents per share on an adjusted basis, up from 71 cents per share in the year-ago quarter.

Revenue for the quarter also jumped 23 percent on a year-over-year basis to $635.2 million. Analysts were expecting Entegris, Inc. (NASDAQ:ENTG) to earn 89 cents per share on revenue of $593 million.

Entegris, Inc. (NASDAQ:ENTG) also reported its segment-wise sales performance. Revenue from the specialty chemicals and engineered materials unit rose to $188 million versus $168.6 million in the year-ago quarter. In comparison, Microcontamination control revenue increased from 205.6 million to $258.9 million, while advance materials handling revenue rose from $151.7 million to $197.7 million.

Looking forward, Entegris, Inc. (NASDAQ:ENTG) expects adjusted earnings in the range of 96 cents per share to $1.01 per share and revenue between $630 million and $650 million for the first quarter.

9. Sirius XM Holdings Inc. (NASDAQ:SIRI)

Number of Hedge Fund Holders: 27

Shares of Sirius XM Holdings Inc. (NASDAQ:SIRI) climbed to a nearly seven-month high on Tuesday, February 1, 2022, after swinging to a profit in the fourth quarter. The Manhattan-based broadcasting company reported earnings of 8 cents per share, compared to a loss of 16 cents per share in the comparable period of 2020.

In addition, Sirius XM Holdings Inc. (NASDAQ:SIRI) generated revenue of $2.28 billion in the quarter, up 4 percent from the year-ago period. The results topped analysts’ average estimates of 7 cents per share for earnings and $2.24 billion for revenue.

Among other updates, Sirius XM Holdings Inc. (NASDAQ:SIRI) reported that SiriusXM’s hardware was installed in nearly 82 percent of new vehicles sold in the U.S. during 2021, compared to 78 percent in the prior year.

The company also released its financial outlook for 2022. Sirius XM Holdings Inc. (NASDAQ:SIRI) expects revenue of around $9 billion and free cash flow of about $1.55 billion for the full year.

Like Sirius XM Holdings Inc. (NASDAQ:SIRI), Alphabet Inc. (NASDAQ:GOOG), Advanced Micro Devices, Inc. (NASDAQ:AMD) and PayPal Holdings, Inc. (NASDAQ:PYPL) also caught investors’ attention following their quarterly results.

8. Bio-Techne Corporation (NASDAQ:TECH)

Number of Hedge Fund Holders: 27

Shares of Bio-Techne Corporation (NASDAQ:TECH) rose nearly seven percent on Tuesday, January 1, 2022, after announcing its fiscal second-quarter results above expectations. The developer of purified proteins and reagent solutions earned $1.88 per share on an adjusted basis, up from $1.62 per share in the same period of 2020. Analysts were looking for earnings of $1.79 per share.

In addition, Bio-Techne Corporation (NASDAQ:TECH) posted revenue of $269.3 million, up 20 percent versus last year ahead of the consensus forecast of $266.57 million. Revenue at its protein sciences segment climbed 19 percent to $205.0 million, while revenue from the diagnostics and genomics segment jumped 23 percent to $64.5 million in the quarter.

Speaking on the results, CEO of Bio-Techne Corporation (NASDAQ:TECH), Chuck Kummeth, said in a statement:

“This quarter marks the first time in our 44-year history where we have achieved over $1 billion in trailing twelve-month revenue. The Wilson Wolf future investment and acquisition agreement we signed in December has the potential to further extend our 2026 revenue target beyond $2 billion and positions our Cell and Gene Therapy workflow with the strongest global footprint in this exploding new market.”

7. Electronic Arts Inc. (NASDAQ:EA)

Number of Hedge Fund Holders: 53

Shares of Electronic Arts Inc. (NASDAQ:EA) turned red in the after-hours trading session on Tuesday, January 1, 2022, after announcing disappointing financial results for its fiscal third quarter.

Electronic Arts Inc. (NASDAQ:EA) reported adjusted earnings of $3.20 per share, missing expectations of $3.23 per share. The adjusted revenue of $2.58 billion also came in below analysts’ average estimate of $2.67 billion.

The video-games publisher also released the financial outlook for its fiscal fourth quarter. Electronic Arts Inc. (NASDAQ:EA) expects earnings of 46 cents per share and revenue of $1.76 billion. On the other hand, analysts had estimated earnings of 62 cents per share on revenue of $1.77 billion for the current quarter.

Like Electronic Arts Inc. (NASDAQ:EA), Alphabet Inc. (NASDAQ:GOOG), Advanced Micro Devices, Inc. (NASDAQ:AMD) and PayPal Holdings, Inc. (NASDAQ:PYPL) also came into the spotlight after their earnings reports.

6. Gilead Sciences, Inc. (NASDAQ:GILD)

Number of Hedge Fund Holders: 55

Shares of Gilead Sciences, Inc. (NASDAQ:GILD) fell to a nearly three-month low in the pre-market trading session on Wednesday, January 2, 2022, after announcing lower-than-expected profit for the fourth quarter.

Gilead Sciences, Inc. (NASDAQ:GILD) reported adjusted earnings of 69 cents per share, well below $2.19 per share in the year-ago period. The drop was mainly attributed to an unexpected cost of $1.25 billion related to a legal settlement.

Revenue for the quarter also slipped two percent on a year-over-year basis to $7.2 billion, mainly due to weak demand for its coronavirus treatment Veklury. Analysts were expecting Gilead Sciences, Inc. (NASDAQ:GILD) to post earnings of $1.60 per share on revenue of $6.67 billion.

The California-based biopharmaceutical company also issued its financial outlook for 2022. Gilead Sciences, Inc. (NASDAQ:GILD) expects adjusted earnings in the range of $6.20 – $6.70 per share and product revenue between $23.8 – $24.3 billion for the current fiscal year.

5. Match Group, Inc. (NASDAQ:MTCH)

Number of Hedge Fund Holders: 56

Shares of Match Group, Inc. (NASDAQ:MTCH) fell over four percent in the after-hours trading session on Tuesday, January 1, 2022, after announcing lower-than-expected financial results for the fourth quarter.

Match Group, Inc. (NASDAQ:MTCH) reported a loss of 60 cents per share, compared to earnings of 50 cents per share in the same period of 2020. Revenue for the quarter jumped 24 percent to $806 million. The results missed analysts’ average estimate of 53 cents per share for earnings and $818.2 million for revenue.

In addition, the company issued a weak sales outlook for the first quarter, citing the negative effects of the new coronavirus variants. Match Group, Inc. (NASDAQ:MTCH) expects to generate revenue of $790 – $800 million versus the consensus forecast of 835.7 million.

In a letter to shareholders, CEO Shar Dubey said in a statement:

“As we look to 2022, there are many more opportunities we plan to tackle. Tinder continues to find ways to make the app more effective and fun to use for its growing user base. Hinge is well on its way to becoming the second largest global dating app within a few years’ time and is now focusing on expansion into non-English speaking markets.”

4. Starbucks Corporation (NASDAQ:SBUX)

Number of Hedge Fund Holders: 58

Starbucks Corporation (NASDAQ:SBUX) recently posted better-than-expected sales for its fiscal first quarter. However, its adjusted profit missed expectations, sending its shares down nearly three percent in the pre-market trading session on Wednesday, January 2, 2022.

The Seattle-based coffee giant reported adjusted earnings of 72 cents per share, up 18 percent versus last year but below estimates of 80 cents per share. On the bright side, Starbucks Corporation (NASDAQ:SBUX) posted revenue of $8.1 billion, up 19 percent on a year-over-year basis and above analysts’ average estimate of $7.95 billion.

Global comparable store sales jumped 13 percent in the quarter. However, same-store sales declined by 14 percent in China, its second-largest market, due to mobility restrictions in several parts of the country. Among other updates, Starbucks Corporation (NASDAQ:SBUX) said that it opened 484 new stores during the quarter.

Looking forward, Starbucks Corporation (NASDAQ:SBUX) now expects its adjusted EPS to increase by 8 – 10 percent in its FY 2022, versus its previous forecast of at least 10 percent surge.

Speaking on the results, CEO Kevin Johnson said:

“As we enter the third year of this pandemic, our stores continue to play an important role as a community gathering place that offers safe, familiar and convenient experiences for our customers. Although demand was strong, this pandemic has not been linear, and the macro environment remains dynamic as we experienced higher-than-expected inflationary pressures, increased costs due to Omicron and a tight labor market.”

3. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Number of Hedge Fund Holders: 65

Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) climbed more than 11 percent in the pre-market trading session on Wednesday, January 2, 2022, after delivering solid profit and sales for the fourth quarter.

Advanced Micro Devices, Inc. (NASDAQ:AMD) reported adjusted earnings of 92 cents per share, surpassing estimates of 79 cents per share. In addition, revenue for the quarter soared 49 percent versus last year to $4.83 billion, topping expectations of $4.53 billion

The California-based semiconductor giant also issued its sales outlook for 2022. Advanced Micro Devices, Inc. (NASDAQ:AMD) expects to post revenue of around $21.5 billion for the current fiscal year, translating to a year-over-year increase of 31 percent.

Discussing the results, CEO of Advanced Micro Devices, Inc. (NASDAQ:AMD), Lisa Su, said:

“2021 was an outstanding year for AMD with record annual revenue and profitability. Each of our businesses performed extremely well, with data center revenue doubling year-over-year driven by growing adoption of AMD EPYC processors across cloud and enterprise customers.”

2. PayPal Holdings, Inc. (NASDAQ:PYPL)

Number of Hedge Fund Holders: 123

Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) took a deep dive in the pre-market trading session on Wednesday, January 2, 2022, hitting a nearly nine-month low, following its fourth-quarter results.

PayPal Holdings, Inc. (NASDAQ:PYPL) reported adjusted earnings of $1.11 per share, slightly higher than $1.08 per share in the comparable period of 2020. Revenue for the quarter rose 13 percent on a year-over-year basis to $6.92 billion.

Analysts were expecting PayPal Holdings, Inc. (NASDAQ:PYPL) to post earnings of $1.12 per share on revenue of $6.87 billion. Total payment volume (TPV), a key growth driver, jumped 23 percent to $339.5 billion in the quarter.

Looking forward, PayPal Holdings, Inc. (NASDAQ:PYPL) expects adjusted earnings of around 87 cents per share for the first quarter, below expectations of $1.16 per share. In addition, it projected revenue growth of six percent for the same period.

1. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 156

Shares of Alphabet Inc. (NASDAQ:GOOG) climbed more than eight percent in the early trading Wednesday, January 2, 2022, after delivering another strong quarter. The company’s market value also rose to $1.977 trillion, hovering very close to the $2 trillion mark.

Alphabet Inc. (NASDAQ:GOOG) reported earnings of $30.69 for the fourth quarter, crushing analysts’ average estimate of $27.34 per share. Revenue for the quarter jumped to $75.33 billion, easily beating expectations of $72.17 billion.

In addition, Alphabet Inc. (NASDAQ:GOOG) also reported its segment-wise sales performance. Its advertising revenue for the quarter climbed 33 percent versus last year to $61.24 billion, while cloud revenue soared 45 percent to $5.54 billion. In comparison, YouTube ad revenue came in at $8.6 billion versus $6.9 billion in the year-ago period.

Speaking on the results, CEO Sundar Pichai said:

“Q4 saw ongoing strong growth in our advertising business, which helped millions of businesses thrive and find new customers, a quarterly sales record for our Pixel phones despite supply constraints, and our Cloud business continuing to grow strongly.”

You can also take a peek at Top Dividend Stock Picks of Billionaire George Soros and Top 10 Stock Picks of Thomas Bancroft’s Makaira Partners.

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Disclosure: None. 10 Stocks Drawing Attention on Earnings Reports is originally published on Insider Monkey.