Streetbeat News

Earnings

META

Meta Platforms Inc. (NASDAQ:META) reported a significant increase in revenue from $3 billion to $10 billion, largely driven by the success of Facebook and Instagram Reels. The company's AI investments have played a crucial role in this growth, with AI-recommended content becoming the fastest-growing category on Facebook's feed. The introduction of these AI-powered recommendations has resulted in a 7% increase in overall time users spend on the platform.

Portfolio Pulse from Ananya Gairola

July 27, 2023 | 10:58 am

ARCH

Arch Resources reported Q2 earnings of $4.04 per share, missing the analyst consensus estimate of $6.28 by 35.67%. This is a 79.54% decrease from the same period last year. However, the company's quarterly sales of $757.29 million beat the analyst consensus estimate of $670.17 million by 13.00%, despite being a 33.16% decrease from last year.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 10:58 am

CBRE

CBRE Group reported Q2 adjusted earnings of $0.82 per share, beating the analyst consensus estimate of $0.76 by 7.89%. However, this is a 55.19% decrease from the same period last year. The company also reported quarterly sales of $7.72 billion, beating the estimate of $7.30 billion by 5.75%, but this is a 0.66% decrease from last year.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 10:57 am

CNX

CNX Resources reported Q2 earnings of $0.29 per share, missing the analyst consensus estimate of $0.31 by 4.84%. This is a 51.64% decrease from the same period last year. The company also reported quarterly sales of $337.00 million, missing the analyst consensus estimate of $407.31 million by 17.26%. This is a 28.75% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 10:56 am

AOS

A.O. Smith (NYSE:AOS) reported Q2 earnings of $1.01 per share, beating the analyst consensus estimate of $0.91 by 10.99%. This is a 23.17% increase from the same period last year. However, the company's quarterly sales of $960.80 million missed the analyst consensus estimate of $965.73 million by 0.51%, marking a 0.53% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 10:56 am

TSCO

Tractor Supply (NASDAQ:TSCO) reported Q2 earnings of $3.83 per share, missing the analyst consensus estimate of $3.92 by 2.3%. The company also reported quarterly sales of $4.18 billion, missing the analyst consensus estimate of $4.26 billion by 1.78%. However, both earnings and sales increased compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 10:56 am

LII

Lennox has increased its FY23 EPS outlook from $14.25 - $15.25 to $15.50 - $16.00, which is higher than the estimated $15.38.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 10:55 am

LVWR

LiveWire Gr (NYSE:LVWR) reported Q2 losses of $(0.20) per share, a 266.67% decrease YoY. The company also reported a 43.79% decrease in sales to $7.03M YoY.

Portfolio Pulse from Bill Haddad

July 27, 2023 | 10:55 am

BFH

Bread Finl Hldgs (NYSE:BFH) reported Q2 earnings of $1.27 per share, a 408% increase YoY. However, the company's quarterly sales of $952.00 million missed the analyst consensus estimate of $968.57 million by 1.71%, despite a 6.61% increase YoY.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 10:55 am

MAT

Mattel, Inc. (NASDAQ:MAT) reported better-than-expected Q2 results, despite a 12% decline in net sales. The company's 2023 guidance aligns with market expectations. DA Davidson analyst Linda Bolton Weiser maintained a Buy rating on Mattel shares and increased the price target from $23 to $25. Weiser noted that Mattel's point of sale was down in Q2, but not worse than the industry's performance. She sees an inflection at the start of Q3, with Barbie toys related to the movie selling out.

Portfolio Pulse from Shanthi Rexaline

July 27, 2023 | 10:54 am