Twitter, Microsoft & Robin's Missing Hood.
More companies continued to release their financials on Tuesday and here are the most outstanding financials from Tuesday's releases.
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Here is what we have for you today.
The Lost Hood
Robinhood Markets Inc [NASDAQ: HOOD] had its shares drop below the IPO price after trade hours after the company posted earnings that were below market expectations.
RH attributed the earnings to a decline in retail trading during the quarter in review.
Shares of Robinhood plunged as much as 8.77% to $36.10 following the release of the results, below the $38 investors paid for during the company's IPO in July this year.
Equities trading revenue fell 27% from a year ago to $50 million.
Total revenue rose 35% from a year earlier to $365 million.
Crypto revenue rose 860% from a year earlier to $51 million but was 78% off its second-quarter level.
Robinhood posted a loss of $1.32 billion, or $2.06 a share. Analysts had expected a loss of $1.12 billion, or 67 cents a share, on $437 million in revenue.
Robinhood said that lower trading activity and other factors “may result in quarterly revenues no greater than $325 million”, versus analysts’ expectation for $497 million.
Quite a Tweet!
Twitter Inc. [NASDAQ: TWTR] released its quarterly financials on Tuesday after the market closed. Twitter which has been working on improving its site capabilities to include audio chatrooms and more features said it was aiming at doubling its revenues by 2023.
Quarterly revenues grew 37% to $1.284 billion vs. $1.285 billion polled by analysts on Refinitiv.
Revenue was largely attributed to the advertising revenues which jumped 41% $1.14 billion during the quarter ended 30th September 2021.
Monetizable daily users (MDU) grew by 5 million from the second quarter to 211 million at the close of 3Q2021.
Twitter however posted a net loss of $537 million for 3Q2021, compared to a profit of $29 million a year ago in what the company attributed to a legal settlement the firm was involved in.
Twitter shares rallied 4% after close trades after the company said they expect revenues to continue growing, citing that the changes to Apple’s privacy changes and the global supply changes have not had an impact on the demand for its products.
The statement was different from what major analysts had expected, and contrary to what social media behemoth, Facebook Inc, said a day earlier, an echo of Snap Inc’s concerns.
Google This!
Alphabet Inc [NASDAQ: GOOG] released their earnings on Tuesday, solid and crisp it was!
Google’s Cloud revenue came in just below $5 billion compared to estimates of $3.4 billion.
YouTube revenue also came in above expectations at $7.2 billion vs. $5 billion.
Earnings per share for 3Q21 was at $27.99 per share vs the $23.48 per share analysts had predicted.
The company posted revenues of $65.1 billion vs the $63.3 billion analysts had earlier estimated.
Googe which is up 58.4% since the year began remained stable, and the class A shares trading with a 0.65% growth in shareholder wealth at pre-market trading on Wednesday at $2,793.44 per share.
Microsoft Inc.
Microsoft Inc, [NASDAQ: MSFT] results were above analysts estimates as the company posted a 22% growth in revenue for the fiscal quarter ended 30th September 2021, the fastest since 2018.
Microsoft’s Intelligent Cloud segment delivered $16.96 billion in revenue, a 31% year on year growth.
Earnings per share for the quarter was at $2.27 per share compared to the $2.07 as expected by analysts in a poll by Refinitiv.
Personal Computing business posted a 12% growth to end the quarter at $13.31 billion in revenue.
The Productivity and Business Processes unit rose over 22% to inject $15.04 billion into Microsoft’s books.
Microsoft called for $50.15 billion to $51.05 billion in fiscal second-quarter revenue, passing the $48.92 billion consensus estimates analysts had forecast.
The next phase for MSFT is an interesting one to watch as the company’s CFO mentioned they will be looking at increasing sales to windows device manufacturers even as investors watch on revenue from the recent introductions of Surface PCs and planned acquisitions of security start-ups CloudKnox and RiskIQ.
Microsoft’s shares have jumped 22% in the year to date performance and are up 2.23% during pre-market trades at $310.11 per share.
Wednesday’s Expectations
Expected earnings today include Coca Cola, the world’s third-largest beverage company, The Boeing Company, Ford Motor and General Motors Company (GM).
Let us know your top anticipations for Wednesday through the Hisa App.
Disclaimer: This newsletter does not constitute investment recommendations. Investors and the general public are advised to do their own research before making any investment decision.