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Earnings Beats After the Bell: Affirm, Twilio, Disney, MGM
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Market indices fought to stay afloat throughout the course of today’s Hump Day session, but ultimately the Dow’s 8-session winning streak has come to an end, finishing the day -40 points, or -0.12%. The S&P 500 and Nasdaq followed the same path but were able to climb into positive territory by the bell, +0.10% and +0.08%, respectively. The small-cap Russell 2000 again took another step down today, -1.10%.
The big earnings report out this afternoon comes from The Walt Disney Company (DIS - Free Report) , where the beleaguered Zacks Rank #5 (Strong Sell)-rated company tries to dig itself out of a hole. Earnings per share did their job — 82 cents per share versus expectations of 67 cents — but revenues came in a tad light: $21.24 billion versus $21.32 billion in the Zacks consensus. Shares are up +3% on the news, more than cutting in half its year-to-date loss.
Disney+ saw core subscribers rise +7 million in the quarter, with direct-to-consumer coming in +12% year over year. International was where most of this hay was made, +11%, while in the Parks & Experiences segment, International was up over 100% in the quarter.
Twilio (TWLO - Free Report) is also up in late trading following its Q3 earnings report this afternoon, where earnings of 58 cents on quarterly sales of $1.03 billion outpaced the 35 cents per share and $985 million, respectively, analysts were looking for. The kicker was the big move on next-quarter earnings guidance, from 33 cents in the Zacks consensus to a range of 53-57 cents this afternoon. Shares are up +6.6% in late trading.
MGM Resorts (MGM - Free Report) continued to see its fortunes improve, with solid beats on both top and bottom lines after today’s close: earnings of 64 cents per share was well ahead of the 55 cents expected (and -$1.39 per share the company posted in the year-ago quarter), while revenues of $3.97 billion surpassed the $3.85 billion estimated ahead of the release. Shares were up as high as +3.5% in the after-market; the stock is now up more than +16% year to date.
Affirm Holdings (AFRM - Free Report) , the digital buy now, pay later service, crushed top-line estimates with revenues reported at $497 million, a +37% increase year over year. The company in its press release also touted Gross Merchandise Value (GMV) of $5.6 billion for the company, up +28% year over year. Shares are up more than +9% in late trading, adding to the company’s astounding +139% growth year to date.
Initial and Continuing Jobless Claims and another appearance by Fed Chair Powell on the IMF panel are what will greet us tomorrow morning in the markets. Considering the Dow saw its eight-session winning streak come to a close, it wasn’t with a hard sell-off; thus, perhaps there are more legs to this bull run we’ve seen over the past couple weeks or so. Questions or comments about this article and/or author? Click here>>
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Earnings Beats After the Bell: Affirm, Twilio, Disney, MGM
Market indices fought to stay afloat throughout the course of today’s Hump Day session, but ultimately the Dow’s 8-session winning streak has come to an end, finishing the day -40 points, or -0.12%. The S&P 500 and Nasdaq followed the same path but were able to climb into positive territory by the bell, +0.10% and +0.08%, respectively. The small-cap Russell 2000 again took another step down today, -1.10%.
The big earnings report out this afternoon comes from The Walt Disney Company (DIS - Free Report) , where the beleaguered Zacks Rank #5 (Strong Sell)-rated company tries to dig itself out of a hole. Earnings per share did their job — 82 cents per share versus expectations of 67 cents — but revenues came in a tad light: $21.24 billion versus $21.32 billion in the Zacks consensus. Shares are up +3% on the news, more than cutting in half its year-to-date loss.
Disney+ saw core subscribers rise +7 million in the quarter, with direct-to-consumer coming in +12% year over year. International was where most of this hay was made, +11%, while in the Parks & Experiences segment, International was up over 100% in the quarter.
Twilio (TWLO - Free Report) is also up in late trading following its Q3 earnings report this afternoon, where earnings of 58 cents on quarterly sales of $1.03 billion outpaced the 35 cents per share and $985 million, respectively, analysts were looking for. The kicker was the big move on next-quarter earnings guidance, from 33 cents in the Zacks consensus to a range of 53-57 cents this afternoon. Shares are up +6.6% in late trading.
MGM Resorts (MGM - Free Report) continued to see its fortunes improve, with solid beats on both top and bottom lines after today’s close: earnings of 64 cents per share was well ahead of the 55 cents expected (and -$1.39 per share the company posted in the year-ago quarter), while revenues of $3.97 billion surpassed the $3.85 billion estimated ahead of the release. Shares were up as high as +3.5% in the after-market; the stock is now up more than +16% year to date.
Affirm Holdings (AFRM - Free Report) , the digital buy now, pay later service, crushed top-line estimates with revenues reported at $497 million, a +37% increase year over year. The company in its press release also touted Gross Merchandise Value (GMV) of $5.6 billion for the company, up +28% year over year. Shares are up more than +9% in late trading, adding to the company’s astounding +139% growth year to date.
Initial and Continuing Jobless Claims and another appearance by Fed Chair Powell on the IMF panel are what will greet us tomorrow morning in the markets. Considering the Dow saw its eight-session winning streak come to a close, it wasn’t with a hard sell-off; thus, perhaps there are more legs to this bull run we’ve seen over the past couple weeks or so.
Questions or comments about this article and/or author? Click here>>