11 Companies Making Headlines Following Earnings Reports

In this article, we will take a look at the 11 companies making headlines following earnings reports.

Smartphone giant Apple Inc. (NASDAQ:AAPL), e-commerce behemoth Amazon.com, Inc. (NASDAQ:AMZN) and chip giant Intel Corporation (NASDAQ:INTC), recently came out with financial results for their respective quarters.

Amazon shares plunged to a nearly two-year low after swinging to a loss in the first quarter and offering a weak sales outlook for Q2. On the other hand, shares of Apple and Intel also turned red after the two companies projected slower growth for the current quarter amid production and capacity challenges.

The drop in the share prices of Amazon, Apple and Intel brought down the S&P 500 and Nasdaq Composite Indexes in the pre-market trading session on Thursday, April 29. At 8:46 AM ET, S&P 500 was down 0.69 percent, while the Nasdaq Composite Index was negative 0.94 percent.

Many other stocks, including the financial services giant Mastercard Incorporated (NYSE:MA) and media and technology Comcast Corporation (NASDAQ:CMCSA), also came into the limelight after releasing their earnings reports.

Companies Making Headlines Following Earnings Reports

11. Stryker Corporation (NYSE:SYK)

Number of Hedge Fund Holders: 39

Shares of Stryker Corporation (NYSE:SYK) closed higher on Thursday, April 28, 2022, after announcing better-than-expected financial results for the first quarter. The Michigan-based medical technology company reported adjusted earnings of $1.97 per share, beating the consensus of $1.95 per share.

Revenue for the quarter advanced 8.1 percent on a year-over-year basis to $4.3 billion, ahead of the consensus of $4.18 billion. Stryker Corporation (NYSE:SYK) also released its segment-wise sales results. Revenue from its MedSurg and Neurotechnology segment jumped 10.6 percent to $2.4 billion, while revenue from the Orthopaedics and Spine business increased 5.1 percent to $1.9 billion in the quarter.

Looking forward, Stryker Corporation (NYSE:SYK) expects its full-year adjusted earnings to come at the lower end of the previously announced outlook in the range of $9.60 – $10 per share.

Speaking on the results, CEO Kevin A. Lobo said:

“We delivered solid first quarter results in the face of a challenging macroeconomic environment. We are encouraged by the steady improvement of surgery volumes and the robust demand for our capital products; however, we expect supply chain challenges to persist for much of the year.”

10. KLA Corporation (NASDAQ:KLAC)

Number of Hedge Fund Holders: 39

Shares of KLA Corporation (NASDAQ:KLAC) marginally moved up in the extended hours on Thursday, April 28, 2022, after beating profit and sales expectations for its fiscal third quarter.

KLA Corporation (NASDAQ:KLAC) earned $5.13 per share on an adjusted basis, up from $3.85 per share in the year-ago period. Revenue came in at $2.29 billion, compared to $1.8 billion in the same quarter of the prior year. The results easily exceeded the consensus of $4.82 per share for earnings and $2.2 billion for revenue.

The California-based chip-equipment manufacturer also issued the financial outlook for its fiscal fourth quarter. KLA Corporation (NASDAQ:KLAC) guided for adjusted earnings in the range of $4.93 – $6.03 per share and revenue between $2.3 – $2.55 billion for the current quarter.

Like KLA Corporation (NASDAQ:KLAC), investors are also closely observing Apple Inc. (NASDAQ:AAPL), Amazon.com, Inc. (NASDAQ:AMZN) and Intel Corporation (NASDAQ:INTC) following their earnings reports.

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

Number of Hedge Fund Holders: 54

Gilead Sciences, Inc. (NASDAQ:GILD) recently came into the spotlight after announcing its first-quarter profit and sales above expectations. The biopharmaceutical giant reported adjusted earnings of $2.12 per share, up from $2.04 per share in the comparable period of 2021.

Revenue rose 3 percent on a year-over-year basis to $6.6 billion. Analysts were expecting Gilead Sciences, Inc. (NASDAQ:GILD) to report earnings of $1.80 per share on revenue of $6.28 billion.

Looking at its segment-wise sales performance, HIV product sales inched up 2 percent to $3.7 billion, while HCV product sales plummeted 22 percent to $399 million in the quarter. In comparison, revenue from sales of its Covid-19 drug Veklury rose 5 percent to $1.5 billion.

On the downside, Gilead Sciences, Inc. (NASDAQ:GILD) slashed its earnings outlook for the full year. The company now anticipates earnings in the range of $3 – $3.50 per share, compared to its previous guidance between $4.70 – $5.20 per share.

8. McDonald’s Corporation (NYSE:MCD)

Number of Hedge Fund Holders: 57

Shares of McDonald’s Corporation (NYSE:MCD) rose nearly three percent on Thursday, April 28, 2022, after delivering better-than-expected financial results for the first quarter. The fast-food giant benefitted from price hikes and strong international sales.

McDonald’s Corporation (NYSE:MCD) reported adjusted earnings of $2.28 per share, exceeding estimates of $2.17 per share. Revenue for the quarter rose 11 percent versus last year to $5.67 billion, beating expectations of $5.59 billion.

Global comparable sales increased 11.8 percent, while U.S. comparable sales rose 3.5 percent in the quarter. Among other updates, McDonald’s Corporation (NYSE:MCD) reported that its digital systemwide sales surpassed $5 billion in the quarter.

Discussing the results, CEO Chris Kempczinski said in a statement:

“Our strong performance in the first quarter was underpinned by global comparable sales up nearly 12%, reflecting broad-based momentum across all segments. In most of our major markets, we sustained QSR traffic share gains by focusing on elevating our brand, accelerating digital channels and showcasing our core equities of chicken and beef.”

7. Eli Lilly and Company (NYSE:LLY)

Number of Hedge Fund Holders: 61

Eli Lilly and Company (NYSE:LLY) recently delivered upbeat profit and sales for the first quarter. As a result, its shares jumped over four percent on Thursday, April 28, 2022. The healthcare giant earned $2.62 per share on an adjusted basis, well above $1.61 per share in the first quarter of the prior year. Analysts were looking for earnings of $2.13 per share.

In addition, Eli Lilly and Company (NYSE:LLY) posted revenue of $7.8 billion, up 15 percent on a year-over-year basis and above expectations of $6.68 billion. Revenue from sales of coronavirus antibodies increased to $1.47 billion, from $810.1 million in the year-ago period.

Eli Lilly and Company (NYSE:LLY) also released its region-wise sales results. Its U.S. revenue climbed 31 percent versus last year to $5.17 billion, primarily driven by higher volume. In comparison, revenue outside the U.S. fell 8 percent to $2.64 billion, partly weighed down by unfavorable foreign exchange rates.

Like Eli Lilly and Company (NYSE:LLY), Apple Inc. (NASDAQ:AAPL), Amazon.com, Inc. (NASDAQ:AMZN) and Intel Corporation (NASDAQ:INTC) also caught investors’ attention following their earnings reports.

6. DexCom, Inc. (NASDAQ:DXCM)

Number of Hedge Fund Holders: 71

Shares of DexCom, Inc. (NASDAQ:DXCM) dropped nearly four percent in the after-hours trading session on Thursday, April 28, 2022, after its first-quarter profit came in well below the consensus forecast.

DexCom, Inc. (NASDAQ:DXCM) reported adjusted earnings of 32 cents per share, significantly lower than analysts’ average estimate of 52 cents per share. On the bright side, revenue for the quarter jumped 25 percent on a year-over-year basis to $628.8 million and surpassed expectations of $623.36 million.

The maker of glucose monitoring systems also issued its sales outlook for 2022. DexCom, Inc. (NASDAQ:DXCM) expects to generate revenue in the range of $2.82 – 2.94 billion for the full year, representing a growth of 15 – 20 percent over last year.

Commenting on the results, CEO Kevin Sayer said:

“Dexcom is off to a great start in 2022, advancing a number of strategic initiatives that strengthen our foundation for long-term growth. We are very excited about our initial launch of G7 internationally and look forward to bringing this product to many more people globally over the course of the year.”

5. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holders: 72

Intel Corporation (NASDAQ:INTC) recently announced better-than-expected financial results for the first quarter. However, its second-quarter guidance disappointed investors, sending its shares down more than three percent in the pre-market trading session on Friday, April 29, 2022.

The California-based chip giant expects adjusted earnings of about 70 cents per share and revenue of approx. $18 billion for the current quarter. However, the guidance is below the consensus of 83 cents per share for earnings and $18.38 billion for revenue.

For the first quarter, Intel Corporation (NASDAQ:INTC) reported adjusted earnings of 87 cents per share, topping estimates of 81 cents per share. Revenue came in at $18.4 billion, beating expectations of $18.31 billion.

Intel Corporation (NASDAQ:INTC) also released the sales performance of its flagship segments. Revenue from the Client Computing Group, its largest segment, fell 13 percent to $9.3 billion. On the bright side, revenue from the Datacenter and AI Group jumped 22 percent to $6 billion, while revenue from the Network and Edge Group climbed 23 percent to $2.2 billion in the quarter.

4. Comcast Corporation (NASDAQ:CMCSA)

Number of Hedge Fund Holders: 80

Shares of Comcast Corporation (NASDAQ:CMCSA) recently hit a new 52-week low of $40.76 despite beating profit and sales expectations for the first quarter. The media and technology company earned 86 cents per share on an adjusted basis, up from 76 cents per share in the same period last year.

Revenue for the quarter rose 14 percent on a year-over-year basis to $31 billion. Analysts were expecting Comcast Corporation (NASDAQ:CMCSA) to post earnings of 81 cents per share on revenue of $30.5 billion.

Comcast Corporation (NASDAQ:CMCSA) also released its segment-wise sales performance. Its Cable Communications revenue rose 4.7 percent to $16.5 billion, while NBCUniversal revenue climbed 46.6 percent to $10.3 billion in the quarter. On the downside, Sky revenue slipped 4.5 percent to $4.8 billion.

Discussing the results, CEO Brian L. Roberts said:

“2022 is off to a great start. For the first quarter we reported healthy growth in adjusted EBITDA and adjusted EPS, generated significant free cash flow, and increased our return of capital to shareholders.”

3. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 134

Apple Inc. (NASDAQ:AAPL) recently posted its fiscal second-quarter profit and sales above expectations. However, the world’s most valuable company warned that the production challenges could wipe out $4 – $8 billion of its revenue in the current quarter. Apple stock turned red in the pre-market trading session on Friday, April 29, following the warning.

For its fiscal second quarter, Apple Inc. (NASDAQ:AAPL) reported adjusted earnings of $1.52 per share, topping expectations of $1.43 per share. Revenue for the quarter rose 8.59 percent on a year-over-year basis to $97.28 billion, beating estimates of $93.89 billion.

Apple Inc. (NASDAQ:AAPL) also disclosed the sales performance of its flagship products and segments. Its iPhone revenue rose 5.5 percent to $50.57 billion and represented more than half of its total quarterly sales. In comparison, Mac revenue jumped 14.73 percent to $10.44 billion, while iPad revenue slipped 1.92 percent to $7.65 billion in the quarter.

In addition, the company’s Services revenue jumped 17.28 percent to $19.82 billion, while revenue from its Other Products segment, which includes its wearables, home speakers and accessories, rose 12.37 percent to $8.81 billion in the quarter.

Among other updates, Apple Inc. (NASDAQ:AAPL) increased its dividend by 5 percent to 23 cents per share. Moreover, its board authorized a plan for repurchasing an additional $90 billion worth of its common stock.

2. Mastercard Incorporated (NYSE:MA)

Number of Hedge Fund Holders: 144

Shares of Mastercard Incorporated (NYSE:MA) rose to a nearly two-month high on Thursday, April 28, 2022, after delivering solid profit and revenue for the first quarter. The financial services giant reported adjusted earnings of $2.76 per share, well above $1.74 per share in the first quarter of 2021.

In addition, Mastercard Incorporated (NYSE:MA) posted revenue of $5.2 billion, up 24 percent over the same period last year. The results exceeded the consensus of $2.17 per share for earnings and $4.91 billion for revenue.

Looking at the key growth indicators, Mastercard Incorporated (NYSE:MA) reported gross dollar volume growth of 17 percent and cross-border volume growth of 53 percent for the quarter. Among other updates, the company announced that it repurchased 6.8 million shares of its common stock during the quarter.

Speaking on the results, CEO Michael Miebach said in a statement:

“Russia’s invasion of Ukraine marked a somber start to 2022, as war returned to Europe for the first time in decades. Even in the context of this challenging geopolitical environment, we’re off to a strong start in 2022 with robust revenue and earnings growth as cross-border volumes grew 53% versus a year ago on a local currency basis. As of March, cross-border travel is above 2019 levels for the first time since the pandemic began, and ahead of our expectations.”

1. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 279

Amazon.com, Inc. (NASDAQ:AMZN) appears to be in serious trouble after swinging to a loss in the first quarter and offering weak sales outlook for the current quarter. The e-commerce giant was primarily hit by higher costs and logistic constraints in the quarter.

Shares of Amazon.com, Inc. (NASDAQ:AMZN) plummeted to a nearly two-year low in the pre-market trading session on Friday, April 29, 2022, following the results.

Amazon.com, Inc. (NASDAQ:AMZN) reported a loss of $7.56 per share, compared to earnings of $15.79 per share in the first quarter of 2021. On the contrary, analysts were looking for earnings of $8.07 per share.

In addition, Amazon.com, Inc. (NASDAQ:AMZN) posted revenue of $116.44 billion, up 7 percent on a year-over-year basis and marginally above analysts’ average estimate of $116.3 billion.

Looking forward, Amazon.com, Inc. (NASDAQ:AMZN) expects to generate revenue in the range of $116 – $121 billion for the current quarter. However, the outlook missed the consensus of $125.5 billion with a big margin.

Discussing the results, CEO Andy Jassy said in a statement:

“The pandemic and subsequent war in Ukraine have brought unusual growth and challenges. With AWS growing 34% annually over the last two years, and 37% year-over-year in the first quarter, AWS has been integral in helping companies weather the pandemic and move more of their workloads into the cloud. Our Consumer business has grown 23% annually over the past two years, with extraordinary growth in 2020 of 39% year-over-year that necessitated doubling the size of our fulfillment network that we’d built over Amazon’s first 25 years—and doing so in just 24 months.”

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Disclosure: None. 11 Companies Making Headlines Following Earnings Reports is originally published on Insider Monkey.