Streetbeat News

Earnings

RCAT

Red Cat Holdings Inc. (RCAT) has reported its Q2 2024 revenue to be approximately $3.9 million, which is lower than the estimated $5 million.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 7:35 pm

GOOGL

Epic Games, the company behind Fortnite and the Epic Games Store, has admitted in court that their digital PC game store is not profitable. Despite its growth and the addition of features and exclusive titles, the store has struggled financially. The company had previously argued that the losses incurred, over $300 million, were part of a strategic plan to expand the store's user base and business. However, as 2023 arrived, it became evident that Epic's strategy had not resulted in profitability. In September, the company laid off 830 employees, approximately 16% of its workforce, citing financial difficulties.

Portfolio Pulse from Franca Quarneti

November 07, 2023 | 7:33 pm

MSGE

Madison Square Garden Entertainment Corp (NYSE:MSGE) reported a Q1 FY24 revenue decline of 3% YoY to $142.2 million, beating the consensus of $117.2 million. The decrease in event-related revenues was due to fewer concerts held at the company's venues. MSGE reported an adjusted operating loss of $0.7 million compared to income of $11.5 million a year ago. The company reiterated its FY24 guidance and expects a low double-digit percentage increase in events in its bookings business for the fiscal year.

Portfolio Pulse from Anusuya Lahiri

November 07, 2023 | 7:32 pm

ALB

Albemarle Corporation (ALB) missed Q3 earnings and sales estimates, with Adjusted EBITDA down over 60% Y/Y. Analysts from BMO Capital Markets and Oppenheimer have lowered their price targets and future estimates for the company due to volatility in lithium prices and concerns over capital overspend. Despite this, ALB shares are trading higher by 2.93%.

Portfolio Pulse from Nabaparna Bhattacharya

November 07, 2023 | 7:31 pm

ALTO

DDOG

OPRT

SNTI

TMDX

UBER

VTYX

U.S. stocks traded higher with the Nasdaq Composite gaining around 1% on Tuesday. Uber Technologies reported an increase in sales for Q3 but missed the consensus. TransMedics Group, Senti Biosciences, and Datadog shares rose after positive Q3 results and strong guidance. Ventyx Biosciences, Alto Ingredients, and Oportun Financial Corporation shares fell after disappointing Q3 results. Crude oil fell by 4.2%.

Portfolio Pulse from Lisa Levin

November 07, 2023 | 7:30 pm

GOGO

Gogo Inc reported Q3 FY23 revenue growth of 7% YoY to $97.9 million, missing the consensus of $103.8 million. EPS of $0.16 beat the consensus of $0.14. The company cut its FY23 revenue outlook to $390 million - $400 million from the prior $410 million - $420 million. Gogo's shares traded lower by 5.98% at $9.99 on the last check Tuesday.

Portfolio Pulse from Anusuya Lahiri

November 07, 2023 | 7:27 pm

GFS

GlobalFoundries Inc (NASDAQ:GFS) reported a Q3 FY23 revenue decline of 11% YoY to $1.852 billion, beating the consensus of $1.849 billion. The company's adjusted EPS of $0.55 also beat the consensus of $0.49. However, the adjusted gross margin and operating margin declined. The company generated $416 million in operating cash flow and held $3.4 billion in cash and equivalents. GFS shares traded higher by 5.35% at $54.42.

Portfolio Pulse from Anusuya Lahiri

November 07, 2023 | 7:11 pm

QNRX

Quoin Pharmaceuticals (NASDAQ:QNRX) is set to release its latest quarterly earnings report on November 8, 2023. Analysts estimate an earnings per share (EPS) of $-2.72. The company's past performance shows a pattern of share price changes following earnings reports. The stock is currently trading at $4.52, down 75.2% over the last 52-week period.

Portfolio Pulse from Benzinga Insights

November 07, 2023 | 7:02 pm

MRMD

MariMed (OTC:MRMD) is set to release its latest quarterly earnings report on November 8, 2023. Analysts estimate an earnings per share (EPS) of $0.00. The company's past performance shows a mixed impact on the share price post-earnings release. The stock is currently trading at $0.315 and has seen a 37.75% decrease over the last 52-week period.

Portfolio Pulse from Benzinga Insights

November 07, 2023 | 7:02 pm

ASRT

Assertio Holdings (NASDAQ:ASRT) is set to release its latest quarterly earnings report on November 8, 2023. Analysts estimate an earnings per share (EPS) of $0.11. The company's stock price has historically been affected by its earnings performance and guidance. Last quarter, the company beat EPS by $0.05, which was followed by a 45.61% drop in the share price. Over the last 52-week period, shares are down 17.23%.

Portfolio Pulse from Benzinga Insights

November 07, 2023 | 7:02 pm