5 Must-Watch Quarterly Reports

In this article, we discuss the 5 must-watch quarterly reports. If you want to read our detailed analysis of these companies, go directly to the 10 Must-Watch Quarterly Reports.

5. Zoetis Inc. (NYSE:ZTS)

Number of Hedge Fund Holders: 58

Zoetis Inc. (NYSE:ZTS) recently came into the limelight after announcing better-than-expected profit and sales for the third quarter. The global animal health company reported adjusted earnings of $1.25 per share, up from $1.10 per share in the same period last year. Analysts were looking for earnings of $1.11 per share.

In addition, revenue for the quarter rose 11 percent on a year-over-year basis to $2 billion, beating the consensus forecast of $1.93 billion. Revenue from the U.S. segment increased 7 percent versus last year to $1.065 billion. In comparison, the international segment generated revenue of $904 million, up 18 percent from the same period last year.

Zoetis Inc. (NYSE:ZTS) also raised its financial outlook for 2021. It now expects adjusted earnings in the range of $4.62 – $4.67 per share and revenue between $7.625 billion – $7.7 billion for the full year.

Speaking on the results, CEO Kristin Peck said:

“We delivered strong results again this quarter with 10% operational growth for both revenue and adjusted net income, driven by our innovative portfolio of petcare parasiticides, including Simparica Trio^®, as well as dermatology products.”

4. Airbnb, Inc. (NASDAQ:ABNB)

Number of Hedge Fund Holders: 58

Shares of Airbnb, Inc. (NASDAQ:ABNB) hit a nearly eight-month high on Friday, 5 November 2021, after announcing solid profit and sales for the third quarter, mainly driven by an acceleration in travel rebound.

Airbnb, Inc. (NASDAQ:ABNB) said its earnings skyrocketed 220 percent on a year-over-year basis to $1.22 per share, crushing the consensus forecast of 72 cents per share. Revenue for the quarter also climbed 70 percent versus last year to $2.2 billion, ahead of analysts’ average estimate of $2.06 billion.

Moreover, the company issued its sales outlook for the fourth quarter. Airbnb, Inc. (NASDAQ:ABNB) expects revenue in the range of $1.39 billion – $1.48 billion, compared to the consensus forecast of $1.44 billion.

Discussing the results, CEO Brian Chesky said:

“The third quarter was Airbnb’s best quarter yet. The pandemic has led to a revolution in how we live, work and travel and we’re constantly innovating to meet this new way of traveling and living.”

3. Pinterest, Inc. (NYSE:PINS)

Number of Hedge Fund Holders: 63

Shares of Pinterest, Inc. (NYSE:PINS) rose nearly six percent on Friday, 5 November 2021, after beating expectations for the third quarter. The image sharing and social media service reported adjusted earnings of 28 cents per share, more than double from 13 cents per share in the year-ago quarter.

Revenue came in at $632.9 million, up 43 percent from $442.6 million in the same period last year. Analysts were expecting Pinterest, Inc. (NYSE:PINS) to report earnings of 22 cents per share on revenue of $631 million.

If we look at the key growth indicators, monthly active users in the quarter increased one percent to 444 million, missing expectations of 460 million. On the bright side, the average revenue per user of $1.41 per share surpassed the consensus forecast of $1.38 per share.

Expressing his satisfaction with the results, CEO Ben Silbermann said:

“We were pleased with the financial results that we delivered in Q3. Revenue grew 43% year-over-year and I am proud of the team’s progress in launching a number of new products for both creators and brands, bringing more video content and shoppable features to Pinterest.”

2. Square, Inc. (NYSE:SQ)

Number of Hedge Fund Holders: 94

Shares of Square, Inc. (NYSE:SQ) fell more than four percent on Friday, 5 November 2021, after announcing disappointing profit and sales for the third quarter. The San Francisco-based payments company blamed lower bitcoin revenue for the weak results.

Square, Inc. (NYSE:SQ) reported adjusted earnings of 37 cents per share, slightly below the consensus forecast of 38 cents per share. Total quarterly revenue of $3.84 billion also missed the consensus forecast of $4.39 billion. The company had reported adjusted earnings of 34 cents per share on revenue of $3.03 billion for the comparable period of 2020.

Looking at the key growth indicators, bitcoin revenue increased to $1.82 billion versus $1.63 billion in the year-ago quarter. In comparison, transaction-based revenue came in at $1.3 billion versus $925 million in the same period last year. Analysts were expecting Square, Inc. (NYSE:SQ) to report transaction-based revenue of $1.29 billion and bitcoin revenue of  $2.56 billion.

1. Uber Technologies, Inc. (NYSE:UBER)

Number of Hedge Fund Holders: 135

Shares of Uber Technologies, Inc. (NYSE:UBER) advanced over four percent on Friday, 5 November 2021, after posting its financial results for the third quarter. The popular ride-hailing service reported a loss of $1.28 per share, wider than the loss of 62 cents per share in the year-ago quarter. The loss was partly attributed to a drop in the value of its investment in Didi.

Revenue for the quarter jumped 72 percent on a year-over-year basis to $4.8 billion. Analysts were expecting Uber Technologies, Inc. (NYSE:UBER) to report a loss of 33 cents per share on revenue of $4.42 billion.

On the bright side, Uber Technologies, Inc. (NYSE:UBER) posted an adjusted EBITDA profit of $8 million for the quarter, marking its first adjusted EBITDA profitable quarter since going public. This is compared to an adjusted EBITDA loss of $625 million in the same period of 2020.

If we look at the key growth drivers, gross bookings in the quarter jumped 57 percent versus last year to $23.1 billion, missing expectations of $23.3 billion. In addition, total trips in the quarter surged 39 percent on a year-over-year basis to 1.64 billion, below the consensus forecast of 1.69 billion.

Speaking on the results, CFO Nelson Chai said:

“While we recognize it’s just a step, reaching total-company Adjusted EBITDA profitability is an important milestone for Uber. Not only did our Mobility business recover to pre-COVID margins this quarter, our core restaurant delivery business was profitable on an Adjusted EBITDA basis for the first time as well, bringing the full Delivery segment close to breakeven.”

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