Streetbeat News

Earnings

SPOT

Spotify reported Q3 results with a 10% YoY growth in premium revenue and a 26% increase in total MAUs. This has led to a rise in the company's share prices.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 2:31 pm

GTX

Garrett Motion Inc. reported Q3 FY23 sales of $960 million, missing the Street expectation of $995 million. However, its quarterly EPS of 23 cents beat the consensus of $0.22. The company benefitted from foreign currency translational impacts and the ramp-up of new products. The company lowered its full-year 2023 outlook, expecting sales in the range of $3.83 billion-$3.90 billion versus the estimate of $4 billion. GTX shares are trading 5.70% higher at $7.60.

Portfolio Pulse from Nabaparna Bhattacharya

October 24, 2023 | 2:30 pm

SHW

Sherwin-Williams Company (NYSE:SHW) reported Q3 FY23 sales growth of 1.1% YoY to $6.117 billion, beating the analyst consensus estimate. The increase was driven by selling price increases. Adjusted EPS of $3.20 beat the consensus estimate of $2.77. The company raised its FY23 adjusted EPS outlook from $9.30 - $9.70 to $10.10 - $10.30, above the consensus of $9.83. SHW shares are trading higher by 1.51% at $242.24.

Portfolio Pulse from Shivani Kumaresan

October 24, 2023 | 2:27 pm

AAPL

GLW

Corning Inc reported a Q3 FY23 core sales decline of 6% YoY to $3.46 billion, missing the consensus of $3.5 billion. The company also reported collaboration with Apple to deliver durable color-infused glass for the iPhone 15. Corning's Q4 outlook sees core sales of $3.25 billion and core EPS of $0.37 - $0.42.

Portfolio Pulse from Anusuya Lahiri

October 24, 2023 | 2:24 pm

KO

Coca-Cola's Chairman and CEO, James Quincey, discussed the company's Q3 results on CNBC.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 2:20 pm

AVGO

A significant bearish stance on Broadcom (NASDAQ:AVGO) has been observed through unusual options activity. The sentiment among these big-money traders is split between 45% bullish and 54% bearish. The whales have been targeting a price range from $860.0 to $1080.0 for Broadcom over the last 3 months. The price of AVGO is up 1.1% at $871.72, with RSI indicators suggesting the stock may be approaching overbought. Next earnings are expected in 44 days.

Portfolio Pulse from Benzinga Insights

October 24, 2023 | 2:16 pm

LVO

PODC

PodcastOne, a subsidiary of LiveOne, pre-announced its record revenue and EBITDA for 1H Fiscal 2024. The company estimates a revenue of over $21M, marking a 23% increase, and an adjusted EBITDA of $600K. Q2 revenue is expected to increase by 24% to approximately $10.5M. These are preliminary and unaudited results and may be subject to adjustments.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 2:14 pm

PII

Polaris Inc (NYSE:PII) reported a 4% YoY decline in Q3 FY23 sales to $2.25 billion, missing analyst consensus estimates. The company's sales were negatively impacted by lower shipment volumes and higher finance interest. Sales from Off-Road segment rose 6%, On Road segment dropped 19%, and Marine slumped 48%. Adjusted EPS of $2.71 beat the analyst consensus estimate of $2.69. The company cut its FY23 sales outlook to +3% - +5% and slashed adjusted EPS guidance to -8% - -4%. PII shares are trading lower by 4.33% at $88 in premarket on Tuesday.

Portfolio Pulse from Shivani Kumaresan

October 24, 2023 | 2:14 pm

T

VZ

AT&T Inc. (NYSE:T) shares are trading higher by 2.8% to $15.37 in sympathy with Verizon Communications Inc. (NYSE:VZ) after Verizon reported better-than-expected Q3 financial results and issued guidance. AT&T shares also gained last week after the company reported better-than-expected Q3 financial results. Verizon's sales decreased by 2.6% YoY to $33.34 billion, surpassing the expected consensus of $33.25 billion.

Portfolio Pulse from Henry Khederian

October 24, 2023 | 2:05 pm

THFF

First Financial (NASDAQ:THFF) reported Q3 earnings of $1.37 per share, beating the analyst consensus estimate of $1.17 by 17.09%. However, this is an 8.67% decrease from the same period last year. The company's quarterly sales were $52.80 million, missing the analyst consensus estimate of $53.05 million by 0.47%, and marking a 4.42% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 24, 2023 | 2:03 pm