Coffee With Greta: Bouncing Back

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Good morning friends!

Futures are higher as traders digest the latest batch of earnings.

Let’s get right to it!

Eli Lilly Rallies On Earnings Beat

Eli Lilly (LLY) shares are up 5.2% ahead of the open after beating Q4 expectations on the top and bottom line. 

Here’s how the pharmaceutical company’s results compared to analysts’ estimates: 

  • Adjusted EPS: $2.49 vs $2.22 expected
  • Revenue: $9.35 billion vs $8.93 billion expected

Revenue jumped 28% year over year as the company saw strong demand for its weight loss products. 

$175.8 million in revenue was from Zepbound, Eli Lilly’s newly-approved weight loss drug. 

Its diabetes drug, Mounjaro, brought in $2.21 billion in sales vs $1.73 billion expected. 

Eli Lilly forecast full-year adjusted EPS of $12.20 to $12.70 on $40.4 billion to $41.6 billion in revenue. 

That was slightly better than expectations for adjusted EPS of $12.43 on $39.38 billion in revenue.

Palantir Surges After Revenue Beat

Palantir Technologies (PLTR) shares are surging 20.1% in premarket trade after beating Q4 revenue expectations. 

Here’s how the software company’s results compared to analysts’ estimates: 

  • Adjusted EPS: $0.08, as expected
  • Revenue: $608.4 million vs $602.4 million expected

Revenue jumped 20% year over year. 

In a letter to shareholders, the CEO said Palantir’s expansion and growth “have never been greater.”

He wrote, “Our results reflect both the strength of our software and the surging demand that we are seeing across industries and sectors for artificial intelligence platforms.”

Palantir forecast Q1 revenue between $612 million and $616 million and full-year revenue between $2.65 billion and $2.67 billion. 

That was roughly in line with analysts’ forecasts for Q1 revenue of $617 million and $2.66 billion in full-year sales.

Spotify Rallies On Strong User Growth

Spotify (SPOT) shares are up 8.4% ahead of the open after reporting stronger-than-expected user growth in the fourth quarter. 

Here’s how the streaming company’s results compared to analysts’ estimates: 

  • Per share loss: $0.36 vs $0.40 expected
  • Revenue: $3.94 billion vs $3.99 billion expected
  • Monthly active users: 602 million vs 601 million expected
  • Premium subscribers: 236 million vs 235 million expected

The company’s gross margin rose to 36.7% in the quarter, up 1.4% year over year thanks to cost-cutting efforts and higher prices. 

Spotify said it expects monthly active users to climb to 618 million and premium subscribers to hit 239 million in Q1.

The company said, “With revenue and profitability trends both inflecting favorably heading into 2024, we view the business as well positioned to deliver improving growth and profitability.”

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