{"id":67503,"date":"2023-04-26T09:02:16","date_gmt":"2023-04-26T13:02:16","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=67503"},"modified":"2023-04-26T09:02:16","modified_gmt":"2023-04-26T13:02:16","slug":"coffee-with-greta-big-tech-earnings-bounce","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/04\/26\/coffee-with-greta-big-tech-earnings-bounce\/","title":{"rendered":"Coffee With Greta: Big Tech Earnings Bounce"},"content":{"rendered":"

DJIA Futures: <\/b>+67 (+0.2%)<\/span><\/p>\n

SPX Futures: <\/b>+12 (+0.3%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+142 (+1.1%)<\/span><\/p>\n

Good morning friends!<\/span><\/p>\n

Futures are up as traders digest the first batch of big tech earnings.\u00a0\u00a0<\/span><\/p>\n

Let\u2019s get right to it!<\/span><\/p>\n

Microsoft Rallies On Earnings Beat<\/span><\/h2>\n

Microsoft <\/b>(MSFT) shares are rallying 7.9% ahead of the open after beating fiscal Q3 expectations on the top and bottom line.\u00a0<\/span><\/p>\n

Here\u2019s how the tech giant\u2019s results compared to analysts\u2019 estimates:\u00a0<\/span><\/p>\n

    \n
  • EPS: $2.45 vs $2.23 expected<\/span><\/li>\n
  • Revenue: $52.86 billion vs $51.02 billion expected<\/span><\/li>\n<\/ul>\n

    For fiscal Q4, Microsoft forecast revenue between $54.85 billion and $55.85 billion, beating expectations for $54.84 billion.<\/span><\/p>\n

    The CFO said, We will continue to invest in our cloud infrastructure, particularly AI-related spend, as we scale to the growing demand driven by customer transformation. And we expect the resulting revenue to grow over time.\u201d<\/span><\/p>\n

    Alphabet Tops Q1 Expectations<\/span><\/h2>\n

    Alphabet <\/b>(GOOGL) shares are up 0.3% in premarket trade after reporting better-than-expected Q1 results.\u00a0<\/span><\/p>\n

    Here\u2019s how the company\u2019s results compared to analysts\u2019 estimates:<\/span><\/p>\n

      \n
    • EPS: $1.17 vs $1.07 expected<\/span><\/li>\n
    • Revenue: $69.79 billion vs $68.9 billion expected<\/span><\/li>\n<\/ul>\n

      It was the first time Alphabet has beat expectations since Q4 2021.\u00a0<\/span><\/p>\n

      YouTube ad revenue was better-than-expected at $6.69 billion while traffic acquisition costs were lower-than-expected at $11.72 billion.\u00a0<\/span><\/p>\n

      Google\u2019s cloud service turned $7.45 billion in revenue during the quarter, slightly lower than expectations, but the segment was profitable for the first time on record.<\/span><\/p>\n

      The cloud segment generated $191 million in operating income last quarter.<\/span><\/p>\n

      Boeing Rises After Revenue Beat<\/span><\/h2>\n

      Boeing <\/b>(BA) shares are up 3% ahead of the open after reporting mixed Q1 results.\u00a0<\/span><\/p>\n

      Here\u2019s how the plane maker\u2019s results compared to analysts\u2019 estimates:\u00a0<\/span><\/p>\n

        \n
      • Loss per share: $1.27 vs $1.07 expected<\/span><\/li>\n
      • Revenue: $17.92 billion vs $17.57 billion expected<\/span><\/li>\n<\/ul>\n

        Sales were up 28% year-over-year with commercial airplane revenue surging 60%.\u00a0<\/span><\/p>\n

        Boeing said it plans to increase output of its 737 Max planes later this year to 38 a month from 31.<\/span><\/p>\n

        It also plans to increase production of the 787 Dreamliner to five planes per month from 3 currently.\u00a0<\/span><\/p>\n

        With demand rising, the company expects to deliver a total of 400 to 450 737 planes this year.<\/span><\/p>\n

        The CEO said, \u201cThis is an important year for us. As demand surges across our markets, we must focus together on execution and meeting our customer commitments.\u201d<\/span><\/p>\n

        Chipotle Smashes Q1 Expectations<\/span><\/h2>\n

        Chipotle Mexican Grill <\/b>(CMG) shares are up 7.7% in premarket trade after solidly beating Q1 expectations.\u00a0<\/span><\/p>\n

        Here\u2019s how the restaurant chain\u2019s results compared to analysts\u2019 estimates:\u00a0<\/span><\/p>\n

          \n
        • EPS: $10.50 vs $8.92 expected<\/span><\/li>\n
        • Revenue: $2.37 billion vs $2.34 billion expected<\/span><\/li>\n<\/ul>\n

          Higher menu prices and lower avocado prices helped improve Chipotle\u2019s profit margins during the quarter.\u00a0<\/span><\/p>\n

          Same-store sales jumped 10.9% vs 8.6% expected.\u00a0<\/span><\/p>\n

          Chipotle forecast same-store sales growth in the mid-to-high single digits next quarter and for the full year, in line with expectations.<\/span><\/p>\n

          The company also reiterated its plans to open between 255 and 285 new restaurants this year.<\/span><\/p>\n

          Durable Goods Orders Jump<\/span><\/h2>\n

          Durable goods orders rose more than expected in March as demand for planes jumped.\u00a0<\/span><\/p>\n

          The Commerce Department reported durable goods orders rose 3.2% monthly vs expectations for a 0.5% gain.\u00a0<\/span><\/p>\n

          That increase was led by transportation orders which surged 9.1%.\u00a0<\/span><\/p>\n

          Excluding transportation, orders rose 0.3% monthly vs estimates for a 0.2% decline.\u00a0<\/span><\/p>\n

          February\u2019s contraction was revised higher to -1.2% from -1% previously.<\/span><\/p>\n

          Mortgage Demand Rebounds Despite High Rates<\/span><\/h2>\n

          Mortgage demand jumped last week despite rates hitting the highest level in a month.\u00a0<\/span><\/p>\n

          The Mortgage Bankers Association reported total application volume rose 3.7% weekly.\u00a0<\/span><\/p>\n

          Purchase applications were up 5% weekly and 28% lower year over year.\u00a0<\/span><\/p>\n

          Refinance applications rose 2% weekly and were down 51% annually.\u00a0<\/span><\/p>\n

          The average 30-year contract rate rose to 6.55% from 6.43%.\u00a0<\/span><\/p>\n

          In Case You Missed It<\/span><\/h2>\n
            \n
          • Consumer confidence slipped to a 9-month low in April. The Conference Board\u2019s consumer confidence index fell 2.7 points this month to 101.3. That was lower than economists\u2019 estimates for the index to be unchanged at 104. The expectations index fell to 68.1 from 74. One-year inflation expectations improved to 6.2% from 6.3%.\u00a0<\/span><\/li>\n
          • Home prices rose for the first time in seven months in February. The S&P Case-Shiller national home price index rose 0.2% monthly and 2% year over year. The largest annual gains were in Miami, Tampa, and Atlanta where prices rose 10.8%, 7.7%, and 6.6% respectively.\u00a0<\/span><\/li>\n
          • New home sales surged in March as buyers turn to builders. The Census Bureau reported new sales jumped 9.6% last month to a seasonally adjusted annual rate of 683,000 units. That was better than expectations for 634,000 and the fourth straight monthly gain in new sales.\u00a0<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

            DJIA Futures: +67 (+0.2%) SPX Futures: +12 (+0.3%) NASDAQ Futures: +142 (+1.1%) Good morning friends! Futures are up as traders digest the first batch of big tech earnings.\u00a0\u00a0 Let\u2019s get right to it! Microsoft Rallies On Earnings Beat Microsoft (MSFT) shares are rallying 7.9% ahead of the open after beating fiscal Q3 expectations on the top and bottom line.\u00a0 Here\u2019s how the tech giant\u2019s results compared to analysts\u2019 estimates:\u00a0 EPS: $2.45 vs $2.23 expected Revenue: $52.86 billion vs $51.02 billion expected For fiscal Q4, Microsoft forecast revenue between $54.85 billion and $55.85 billion, beating expectations for $54.84 billion. The CFO said, We will continue to invest in our cloud infrastructure, particularly AI-related spend, as we scale to the growing demand driven by customer transformation. And we expect the resulting revenue to grow over time.\u201d Alphabet Tops Q1 Expectations Alphabet (GOOGL) shares are up 0.3% in premarket trade after reporting better-than-expected Q1 results.\u00a0 Here\u2019s how the company\u2019s results compared to analysts\u2019 estimates: EPS: $1.17 vs $1.07 expected Revenue: $69.79 billion vs $68.9 billion expected It was the first time Alphabet has beat expectations since Q4 2021.\u00a0 YouTube ad revenue was better-than-expected at $6.69 billion while traffic acquisition costs were lower-than-expected at $11.72 billion.\u00a0 Google\u2019s cloud service turned $7.45 billion in revenue during the quarter, slightly lower than expectations, but the segment was profitable for the first time on record. The cloud segment generated $191 million in operating income last quarter. Boeing Rises After Revenue Beat Boeing (BA) shares are up 3% ahead of the open after reporting mixed Q1 results.\u00a0 Here\u2019s how the plane maker\u2019s results compared to analysts\u2019 estimates:\u00a0 Loss per share: $1.27 vs $1.07 expected Revenue: $17.92 billion vs $17.57 billion expected Sales were up 28% year-over-year with commercial airplane revenue surging 60%.\u00a0 Boeing said it plans to increase output of its 737 Max planes later this year to 38 a month from 31. It also plans to increase production of the 787 Dreamliner to five planes per month from 3 currently.\u00a0 With demand rising, the company expects to deliver a total of 400 to 450 737 planes this year. The CEO said, \u201cThis is an important year for us. As demand surges across our markets, we must focus together on execution and meeting our customer commitments.\u201d Chipotle Smashes Q1 Expectations Chipotle Mexican Grill (CMG) shares are up 7.7% in premarket trade after solidly beating Q1 expectations.\u00a0 Here\u2019s how the restaurant chain\u2019s results compared to analysts\u2019 estimates:\u00a0 EPS: $10.50 vs $8.92 expected Revenue: $2.37 billion vs $2.34 billion expected Higher menu prices and lower avocado prices helped improve Chipotle\u2019s profit margins during the quarter.\u00a0 Same-store sales jumped 10.9% vs 8.6% expected.\u00a0 Chipotle forecast same-store sales growth in the mid-to-high single digits next quarter and for the full year, in line with expectations. The company also reiterated its plans to open between 255 and 285 new restaurants this year. Durable Goods Orders Jump Durable goods orders rose more than expected in March as demand for planes jumped.\u00a0 The Commerce Department reported durable goods orders rose 3.2% monthly vs expectations for a 0.5% gain.\u00a0 That increase was led by transportation orders which surged 9.1%.\u00a0 Excluding transportation, orders rose 0.3% monthly vs estimates for a 0.2% decline.\u00a0 February\u2019s contraction was revised higher to -1.2% from -1% previously. Mortgage Demand Rebounds Despite High Rates Mortgage demand jumped last week despite rates hitting the highest level in a month.\u00a0 The Mortgage Bankers Association reported total application volume rose 3.7% weekly.\u00a0 Purchase applications were up 5% weekly and 28% lower year over year.\u00a0 Refinance applications rose 2% weekly and were down 51% annually.\u00a0 The average 30-year contract rate rose to 6.55% from 6.43%.\u00a0 In Case You Missed It Consumer confidence slipped to a 9-month low in April. The Conference Board\u2019s consumer confidence index fell 2.7 points this month to 101.3. That was lower than economists\u2019 estimates for the index to be unchanged at 104. The expectations index fell to 68.1 from 74. One-year inflation expectations improved to 6.2% from 6.3%.\u00a0 Home prices rose for the first time in seven months in February. The S&P Case-Shiller national home price index rose 0.2% monthly and 2% year over year. The largest annual gains were in Miami, Tampa, and Atlanta where prices rose 10.8%, 7.7%, and 6.6% respectively.\u00a0 New home sales surged in March as buyers turn to builders. The Census Bureau reported new sales jumped 9.6% last month to a seasonally adjusted annual rate of 683,000 units. That was better than expectations for 634,000 and the fourth straight monthly gain in new sales.\u00a0<\/p>\n","protected":false},"author":41,"featured_media":67505,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-67503","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coffee-with-greta"],"_links":{"self":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/67503","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/comments?post=67503"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/67503\/revisions"}],"predecessor-version":[{"id":67507,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/67503\/revisions\/67507"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/67505"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=67503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=67503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=67503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}