We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Q1 Reports for Great Reopening Stocks: UBER, PYPL & More
Read MoreHide Full Article
Market indexes finished this trading day mixed, with the blue-chip Dow 30 hitting a new record-high close on its third-straight up day, +0.29%, while the tech-heavy Nasdaq dipped a fourth consecutive session, -0.37%. The S&P 500 hovered around breakeven and finished up 0.07% while the small-cap Russell 2000 dropped 0.34% on the day. After the closing bell, we see fresh new earnings results from companies transitioning to the Great Reopening:
Uber (UBER - Free Report) posted mixed results in its Q1 release this afternoon, with losses on the bottom line coming in much better than expected: -6 cents per share versus -$0.56 in the Zacks consensus, on a top-line miss: $2.90 billion versus $3.24 billion anticipated. However, this was due to a one-time charge in the U.K. whereby the company’s drivers were reclassified. Gross Bookings came in at an all-time high, $19.5 billion, +24% year over year — much better than expected.
As the economy reopens, Uber is expected to be a net gainer as its ride-sharing businesses returns. The good news in the quarter is that Uber’s delivery business (Uber Eats) stayed hot, even as the reopening progressed. Shares of Uber rose 1.3% immediately on the news, breaking a losing streak of three straight quarters missing earnings estimate consensus.
Booking.com (BKNG - Free Report) also surpassed estimates on its bottom line, posting -$5.26 per share versus expectations of -$726 per share. Revenues were narrowly higher than consensus: $1.14 billion versus $1.12 billion. Improving booking trends i travel destinations — especially internationally, where Booking.com tends to excel — look to assist the company as it carters to pent-up travel demand.
Etsy (ETSY - Free Report) shares are falling more than 8%, even as the e-commerce site beat expectations on both top and bottom lines: $1.00 per share topped the Zacks consensus by 16 cents, while $551 million in quarterly sales surpassed the $531.5 million analysts were looking for. Consolidated Gross Merchandise Sales (GMS) rose 132% year over year to $3.1 billion. New Q2 revenue guidance of between $493-596 million moves up from the previous Zacks consensus $494 million.
Zacks Rank #2 (Buy)-rated PayPal (PYPL - Free Report) posted its best quarter in history after the closing bell, with earnings of $1.22 per share taking out the $1.01 expected, +84% year over year, on $6.03 billion surging past the $5.90 billion expected, up 31% from a year ago. Guidance for both Q2 and full year revenues were raised, as the company counted 14.5 million net new active users, bringing its total to just under 400 million.
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Image: Bigstock
Q1 Reports for Great Reopening Stocks: UBER, PYPL & More
Market indexes finished this trading day mixed, with the blue-chip Dow 30 hitting a new record-high close on its third-straight up day, +0.29%, while the tech-heavy Nasdaq dipped a fourth consecutive session, -0.37%. The S&P 500 hovered around breakeven and finished up 0.07% while the small-cap Russell 2000 dropped 0.34% on the day. After the closing bell, we see fresh new earnings results from companies transitioning to the Great Reopening:
Uber (UBER - Free Report) posted mixed results in its Q1 release this afternoon, with losses on the bottom line coming in much better than expected: -6 cents per share versus -$0.56 in the Zacks consensus, on a top-line miss: $2.90 billion versus $3.24 billion anticipated. However, this was due to a one-time charge in the U.K. whereby the company’s drivers were reclassified. Gross Bookings came in at an all-time high, $19.5 billion, +24% year over year — much better than expected.
As the economy reopens, Uber is expected to be a net gainer as its ride-sharing businesses returns. The good news in the quarter is that Uber’s delivery business (Uber Eats) stayed hot, even as the reopening progressed. Shares of Uber rose 1.3% immediately on the news, breaking a losing streak of three straight quarters missing earnings estimate consensus.
Booking.com (BKNG - Free Report) also surpassed estimates on its bottom line, posting -$5.26 per share versus expectations of -$726 per share. Revenues were narrowly higher than consensus: $1.14 billion versus $1.12 billion. Improving booking trends i travel destinations — especially internationally, where Booking.com tends to excel — look to assist the company as it carters to pent-up travel demand.
Etsy (ETSY - Free Report) shares are falling more than 8%, even as the e-commerce site beat expectations on both top and bottom lines: $1.00 per share topped the Zacks consensus by 16 cents, while $551 million in quarterly sales surpassed the $531.5 million analysts were looking for. Consolidated Gross Merchandise Sales (GMS) rose 132% year over year to $3.1 billion. New Q2 revenue guidance of between $493-596 million moves up from the previous Zacks consensus $494 million.
Zacks Rank #2 (Buy)-rated PayPal (PYPL - Free Report) posted its best quarter in history after the closing bell, with earnings of $1.22 per share taking out the $1.01 expected, +84% year over year, on $6.03 billion surging past the $5.90 billion expected, up 31% from a year ago. Guidance for both Q2 and full year revenues were raised, as the company counted 14.5 million net new active users, bringing its total to just under 400 million.
Questions or comments about this article and/or its author? Click here>>
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How to Profit from Trillions on Spending for Infrastructure >>