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Six of the seven Magnificent 7 stocks have now reported earnings but that doesn’t mean that third quarter earnings season is over. This week, several hundred companies are expected to report earnings. That’s a lot of companies that are going to report. Who can keep track of it all?
Tracey looked at the list so you wouldn’t have to. She picked out the five must-see earnings charts this week. They are all fan favorites but several have excellent earnings surprise track records as well.
It’s not easy to beat every quarter, or nearly every quarter for five years. But two of the companies have done just that. And these companies also had to do it during the COVID pandemic. That’s even more impressive.
QUALCOMM has only missed one time in the last 5 years and it was in 2023. This is impressive given that the COVID pandemic hit during this period. Since the miss, QUALCOMM has put together a streak of 5 earnings beats in a row.
Shares of QUALCOMM are up 14.2% year-to-date. It also has attractive valuations, with a forward P/E of 15.1.
e.l.f. Beauty has only missed once in the last 5 years and it was in 2021. It has put together 14 earnings surprises in a row. That’s impressive.
Shares of e.l.f. Beauty soared to new highs early in 2024 but have plunged 37.4% over the last 3 months. Valuations have come down as well. e.l.f. Beauty now trades with a forward P/E of 29.2.
Will another beat turn e.l.f. Beauty’s shares around?
IonQ, the quantum computing company, has beat on earnings three quarters in a row. It is not expected to see positive earnings either in this year or next.
Over the last 3 months, the stock has been a trader favorite. Shares of IonQ are up 103% during that time.
Does the earnings beat, or miss, matter with IonQ’s earnings report?
Airbnb is coming off an earnings miss last quarter but prior to that miss it had beat twelve quarters in a row. Shares of Airbnb are up 9.2% in the last month.
It is an expensive stock, on a price-to-earnings (P/E) basis. Airbnb trades with a forward P/E of 32.7. A P/E under 15 would normally indicate value.
Will Airbnb turn it around, and beat, this quarter?
DraftKings has beat two out of the last four quarters with a big beat of 500% last quarter. Over the last 3 months, shares of DraftKings are up 11.5% but year-to-date it is up just 1.3%.
DraftKings doesn’t have a P/E because it’s not expected to have positive earnings this year. The Zacks Consensus is calling for a loss of $0.31 in 2024 but a rebound in 2025, with a Zacks Consensus of $0.65.
Will another big beat be a catalyst for DraftKings’ shares?
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This Week's 5 Must-See Earnings Charts
Six of the seven Magnificent 7 stocks have now reported earnings but that doesn’t mean that third quarter earnings season is over. This week, several hundred companies are expected to report earnings. That’s a lot of companies that are going to report. Who can keep track of it all?
Tracey looked at the list so you wouldn’t have to. She picked out the five must-see earnings charts this week. They are all fan favorites but several have excellent earnings surprise track records as well.
It’s not easy to beat every quarter, or nearly every quarter for five years. But two of the companies have done just that. And these companies also had to do it during the COVID pandemic. That’s even more impressive.
Will these companies beat again this week?
This Week’s 5 Must-See Earnings Charts
1. QUALCOMM Inc. (QCOM - Free Report)
QUALCOMM has only missed one time in the last 5 years and it was in 2023. This is impressive given that the COVID pandemic hit during this period. Since the miss, QUALCOMM has put together a streak of 5 earnings beats in a row.
Shares of QUALCOMM are up 14.2% year-to-date. It also has attractive valuations, with a forward P/E of 15.1.
Will QUALCOMM beat again this quarter?
2. e.l.f. Beauty, Inc. (ELF - Free Report)
e.l.f. Beauty has only missed once in the last 5 years and it was in 2021. It has put together 14 earnings surprises in a row. That’s impressive.
Shares of e.l.f. Beauty soared to new highs early in 2024 but have plunged 37.4% over the last 3 months. Valuations have come down as well. e.l.f. Beauty now trades with a forward P/E of 29.2.
Will another beat turn e.l.f. Beauty’s shares around?
3. IonQ, Inc. (IONQ - Free Report)
IonQ, the quantum computing company, has beat on earnings three quarters in a row. It is not expected to see positive earnings either in this year or next.
Over the last 3 months, the stock has been a trader favorite. Shares of IonQ are up 103% during that time.
Does the earnings beat, or miss, matter with IonQ’s earnings report?
4. Airbnb, Inc. (ABNB - Free Report)
Airbnb is coming off an earnings miss last quarter but prior to that miss it had beat twelve quarters in a row. Shares of Airbnb are up 9.2% in the last month.
It is an expensive stock, on a price-to-earnings (P/E) basis. Airbnb trades with a forward P/E of 32.7. A P/E under 15 would normally indicate value.
Will Airbnb turn it around, and beat, this quarter?
5. DraftKings Inc. (DKNG - Free Report)
DraftKings has beat two out of the last four quarters with a big beat of 500% last quarter. Over the last 3 months, shares of DraftKings are up 11.5% but year-to-date it is up just 1.3%.
DraftKings doesn’t have a P/E because it’s not expected to have positive earnings this year. The Zacks Consensus is calling for a loss of $0.31 in 2024 but a rebound in 2025, with a Zacks Consensus of $0.65.
Will another big beat be a catalyst for DraftKings’ shares?