5 Companies in Focus After Releasing Their Earnings Reports

In this article, we discuss the 5 companies in focus after releasing their earnings reports. If you want to read our detailed analysis of these companies, go directly to the 11 Companies in Focus After Releasing Their Earnings Reports.

5. Etsy, Inc. (NASDAQ:ETSY)

Number of Hedge Fund Holders: 47

Etsy, Inc. (NASDAQ:ETSY) managed to beat financial expectations for the first quarter. However, its sales outlook for the second quarter disappointed investors, sending its stock down to a nearly one-year low in the pre-market trading session on Thursday, May 5, 2022.

The Brooklyn-based company reported earnings of 60 cents per share, down from $1 per share in the year-ago period. Revenue increased 5.2 percent on a year-over-year basis to $579.27 million. Analysts were expecting Etsy, Inc. (NASDAQ:ETSY) to earn 59 cents per share on revenue of $575.44 million.

Looking forward, Etsy, Inc. (NASDAQ:ETSY) projected revenue in the range of $540 – $590 million for the current quarter. The guidance missed analysts’ average estimate of $628 million with a big margin.

Discussing the results, CEO Josh Silverman said:

“Despite continued uncertainty and macroeconomic headwinds, Etsy continues to rise to the occasion to deliver solid results that show us maintaining most of the gains reported during the extremely strong year-ago period.”