Streetbeat News

Earnings

TME

Tencent Music Entertainment Group (NYSE:TME) reported Q4 revenue of $971 million, surpassing expectations despite a 7.2% year-over-year decline. The company's adjusted EPADS was $0.14, in line with consensus. MAUs for online music and social entertainment saw declines, while online music paying users increased by 20.6%. Following the earnings announcement, several analysts raised their price targets on TME, leading to a 6.4% increase in its shares to close at $11.04.

Portfolio Pulse from Avi Kapoor

March 20, 2024 | 12:44 pm

BNTX

PFE

BioNTech SE (NASDAQ:BNTX) reported a significant drop in Q4 2023 earnings and sales, missing consensus estimates. The decrease was partly due to inventory write-downs by Pfizer Inc (NYSE:PFE), BioNTech's collaboration partner. Despite delivering over 400 million COVID-19 vaccine doses in 2023, BioNTech's net profit and sales fell sharply compared to the previous year. The company provided a cautious revenue outlook for 2024 but remains optimistic about its COVID-19 vaccine franchise and upcoming oncology launches.

Portfolio Pulse from Vandana Singh

March 20, 2024 | 12:43 pm

KC

Kingsoft Cloud Holdings (NASDAQ:KC) reported Q4 sales of $242.60M, slightly above the $242.39M estimate, marking a 0.09% beat. However, this represents a 21.48% decrease from the previous year's sales of $308.97M. The company also reported an adjusted net loss of $35.27M.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 12:41 pm

DNMR

Danimer Scientific projects its FY23 revenue to be $46.7 million, which is below the estimated $51.509 million.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 12:40 pm

CMG

PDD

TSHA

PDD Holdings reported Q4 adjusted earnings per ADS of $2.40, surpassing the $1.60 estimate, with sales of $12.52B beating the $11.01B estimate. Chipotle's board approved a 50-for-1 stock split. Taysha Gene Therapies shares surged after reporting a year-over-year increase in FY23 EPS and providing positive corporate and clinical updates.

Portfolio Pulse from ryanfaloona@benzinga.com

March 20, 2024 | 12:39 pm

MOGO

Mogo anticipates accelerating growth in its subscription and services revenue during FY24, projecting an overall growth rate in the mid-teens.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 12:38 pm

CNM

Core & Main, Inc. (NYSE:CNM) reported Q4 sales of $1.44 billion, slightly above expectations, but missed EPS estimates by 1 cent. The company anticipates 2024 net sales between $7.4 billion to $7.6 billion and adjusted EBITDA of $925 million to $975 million. Shares rose 7.5% following the announcement. Barclays and Loop Capital raised their price targets on CNM, citing strong financial performance and growth prospects.

Portfolio Pulse from Avi Kapoor

March 20, 2024 | 12:37 pm

MOGO

Mogo Inc. (NASDAQ:MOGO) reported Q4 sales of $17.2M, surpassing the analyst consensus estimate of $16.386M by 4.97% and marking a 34.74% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 12:37 pm

DNMR

Danimer Scientific reported preliminary Q4 2023 revenue of $10.9 million, falling short of the estimated $11.569 million. This indicates a potential concern for investors regarding the company's ability to meet financial expectations.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 12:35 pm

TSHA

Taysha Gene Therapies shares surged following the announcement of improved FY23 EPS results and updates on corporate and clinical developments.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 12:29 pm