All articles tagged with #revenue beat
Shopify's stock rose nearly 15% after reporting a strong second-quarter with revenue and gross profit beating estimates, driven by growth in enterprise and international markets, and an optimistic outlook for the upcoming quarter.
The Trade Desk's shares surged over 18% after the company exceeded revenue expectations and provided strong first-quarter guidance, with fourth-quarter sales increasing by 23% and net income rising by 37%. The company's focus on providing technology for targeted advertising across the web, particularly in the Connected TV and streaming platforms, has contributed to its success. Additionally, the company announced a significant increase in share repurchases, reflecting confidence in its future performance amidst a broader recovery in the digital advertising market.
Palantir's shares surged over 25% following a strong fourth-quarter earnings report, which revealed a 20% revenue increase and robust demand for its artificial intelligence offerings. Analysts upgraded the stock, citing breakthrough momentum in the company's commercial unit and the rapid ramping of its AI Platform. While some analysts expressed concerns about valuation and conservative guidance, others reiterated a buy rating, emphasizing the significant impact of Palantir's AI on its business and the potential for continued growth, particularly within the U.S. government sector.
Chinese tech giant Baidu reported third-quarter revenue of 34.45 billion yuan ($4.72 billion), beating expectations but with slower growth compared to the previous quarter. Online marketing revenue increased by 5% year-on-year, while non-online marketing revenue rose by 6%. Baidu's shares rose by 2% following the announcement. The company's CFO emphasized ongoing investments in AI, particularly in generative AI and foundation models. Baidu's Apollo Go robotaxi business also saw an increase in rides, and the company announced the appointment of Sandy Xu, former CFO of JD.com, as an independent director of the board.
Roku's stock surged in after-hours trading after the company reported better-than-expected revenue for the third quarter. Despite a net loss of $330.1 million, Roku's revenue increased by 20% year over year, driven by strong performance in content distribution, video advertising, and sales of Roku-branded TVs. The company also exceeded estimates for active accounts, with 75.8 million in the quarter. Roku expects fourth-quarter revenue to reach approximately $955 million, surpassing Wall Street's expectations. The company recently implemented cost-cutting measures, including layoffs and office space consolidation, to reduce operating expenses.
Netflix reported better-than-expected Q3 earnings, with revenue of $8.54 billion and earnings per share of $3.73, beating estimates. The strong results were driven by higher-than-expected member growth, with 8.76 million paid net adds in the quarter. Netflix ended the quarter with 247.15 million global paid subscribers, up 10.8% YoY. The company also highlighted the repurchase of $2.5 billion worth of its shares and increased its buyback authorization to $10 billion. Netflix expects Q4 revenue of $8.692 billion and full-year 2023 free cash flow of approximately $6.5 billion. Following the announcement, Netflix's stock surged by 11% in after-hours trading.
Rivian reported a narrower Q1 loss than expected and a revenue beat, reaffirming its 50,000 unit annual production guidance. The company still sees an adjusted EBITDA loss for the year of $4.3 billion, which is a narrowing of the $5.2 billion EBITDA loss it had in 2022. Rivian reports it has $11.24 billion in cash and cash equivalents at the end of the quarter, down from the $12 billion it had at the end of Q4.
AMC Entertainment's shares rose by 3.4% in premarket trading after the company reported better-than-expected Q1 revenue and adjusted earnings. The movie theater chain reported a net loss of $235.5 million, or 17 cents per share, compared to a net loss of $337.4 million and 33 cents per share in the same period last year. On an adjusted basis, AMC reported a net loss of 13 cents per share, beating analysts' expectations.
MicroStrategy reported Q1 Non-GAAP EPS of $30.59, beating estimates by $30.32, and revenue of $121.62M, beating estimates by $2.58M. The company's gross profit for Q1 2023 was $94.0 million, representing a 77.1% gross margin. MicroStrategy's cash and cash equivalents as of March 31, 2023, were $94.3 million, up from $43.8 million as of December 31, 2022.
Pinterest has announced a multiyear strategic ad partnership with Amazon, making it the first partner on third-party ads. The partnership will bring more brands and relevant products to Pinterest's platform, potentially offering consumers a more seamless buying experience. Pinterest beat Q1 revenue and earnings, with revenue up 5% YoY to $603m, ahead of $598m expected, and adjusted EPS of $0.08 versus $0.02 expected. Despite the earnings beat, Pinterest stock dropped 6% on higher Q2 costs.