Streetbeat News

Earnings

AKAM

Akamai Technologies reported Q2 earnings per share (EPS) of $1.49, beating the estimate of $1.41. The company's sales also surpassed estimates, coming in at $936.00M against the expected $931.52M.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2023 | 8:01 pm

BARK

BARK reported Q1 adjusted EPS of $(0.05), beating the estimate of $(0.08) by 37.5%. However, the company's sales of $120.59M missed the estimate of $121.55M by 0.79%. This represents a 44.44% increase in losses from the same period last year and an 8.05% decrease in sales.

Portfolio Pulse from totan@benzinga.com

August 08, 2023 | 8:01 pm

DDOG

Datadog, Inc. (NASDAQ:DDOG) reported Q2 FY23 revenue growth of 25% YoY to $509.5 million, beating consensus estimates. However, the company cut its FY23 revenue outlook to $2.05 billion - $2.06 billion, down from the prior $2.08 billion - $2.10 billion, which led to a 16.20% drop in its stock price.

Portfolio Pulse from Anusuya Lahiri

August 08, 2023 | 7:53 pm

DISH

SATS

EchoStar Corp (SATS) and DISH Network Corp (DISH) have agreed to merge in an all-stock deal to build a nationwide wireless network. EchoStar shareholders will receive a 12.9% premium and will own about 31% of the combined company, while DISH Network shareholders will own approximately 69%. The merger will combine DISH Network's satellite technology, streaming services, and nationwide 5G network with EchoStar's satellite communications solutions. The combined company will be headquartered in Englewood, Colorado. DISH also reported Q2 revenue of $3.91 billion, slightly beating the consensus of $3.90 billion.

Portfolio Pulse from Anusuya Lahiri

August 08, 2023 | 7:47 pm

KKR

PARA

PARAA

KKR & Co Inc's Q2 FY23 results and acquisition deal led to a price target increase by several analysts. The company reported revenues of $3.63 billion, significantly higher than the previous year, and an EPS of $0.73, beating the consensus. KKR also disclosed the buyout of Simon & Schuster from Paramount Global for $1.62 billion. Despite the positive news, KKR shares are trading lower by 1.11%.

Portfolio Pulse from Lekha Gupta

August 08, 2023 | 7:46 pm

RNG

Needham analyst Ryan Koontz has reiterated a Buy rating on RingCentral, Inc (NYSE:RNG), raising the price target to $46 from $42. The company recently reported Q2 results, beating earnings estimates. The analyst notes that RingCentral is on track to retire its $1.6 billion debt by 2026 due to strong free cash flow (FCF) focus and sustained 10%+ subscription revenue growth. Despite shares trading lower by 18.5 to $31.78, the analyst maintains a positive outlook.

Portfolio Pulse from Nabaparna Bhattacharya

August 08, 2023 | 7:45 pm

LI

NIO

Shares of NIO Inc. are trading lower in sympathy with other Chinese electric vehicle companies following Li Auto's Q2 financial results. Despite Li Auto beating analyst consensus estimates with earnings of 18 cents per share and sales of $3.95 billion, NIO's shares are down 5.12% at $14.06.

Portfolio Pulse from Ryan Gustafson

August 08, 2023 | 7:45 pm

NYT

New York Times Co (NYSE:NYT) reported Q2 FY23 sales growth of 6.3% YoY to $590.9 million, beating the consensus of $578.1 million. The company's adjusted EPS was $0.38, surpassing the analyst consensus of $0.21. The growth in subscribers, which increased by 7.7% to 9.88 million, contributed to the strong earnings performance. The company's Q3 outlook forecasts total subscription revenue growth of 8% - 10% and Digital-Only subscription revenue growth of 14% - 17%. Following the announcement, NYT shares rose by 8.06%.

Portfolio Pulse from Anusuya Lahiri

August 08, 2023 | 7:44 pm

CRWD

Shares of Crowdstrike Holdings Inc (NASDAQ:CRWD) are trading lower by 4.0% after Datadog issued weak guidance. Despite Datadog's earnings and sales surpassing market projections, the company's Q3 projections are lower than expected, which may indicate potential industry-wide challenges.

Portfolio Pulse from Henry Khederian

August 08, 2023 | 7:43 pm

ZS

Shares of Zscaler Inc (NASDAQ:ZS) are trading lower by 5.3% after Datadog issued weak guidance, which investors may interpret as an indicator of potential industry-wide challenges. Despite exceeding market projections for Q2, Datadog anticipates lower earnings and revenue for Q3, diverging from expectations.

Portfolio Pulse from Henry Khederian

August 08, 2023 | 7:41 pm