{"id":67709,"date":"2023-05-05T09:06:31","date_gmt":"2023-05-05T13:06:31","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=67709"},"modified":"2023-05-05T09:06:31","modified_gmt":"2023-05-05T13:06:31","slug":"coffee-with-greta-hot-labor-market-apple-beats","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/05\/05\/coffee-with-greta-hot-labor-market-apple-beats\/","title":{"rendered":"Coffee With Greta: Hot Labor Market, Apple Beats"},"content":{"rendered":"

DJIA Futures: <\/b>+221 (+0.7%)<\/span><\/p>\n

SPX Futures: <\/b>+33 (+0.8%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+87 (+0.7%)<\/span><\/p>\n

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

Futures are higher as traders digest a hot jobs report and key earnings.<\/span><\/p>\n

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

Hot Labor Market<\/span><\/h2>\n

The U.S. economy added far more jobs than expected in April.\u00a0<\/span><\/p>\n

The Labor Department reported a gain of 253,000 jobs last month vs expectations for 180,000.<\/span><\/p>\n

The unemployment rate also fell unexpectedly to 3.4% vs expectations for an increase to 3.6%.\u00a0<\/span><\/p>\n

That tied for the lowest level since 1969.\u00a0<\/span><\/p>\n

Average hourly earnings rose 0.5% monthly and 4.4% annually vs 0.3% monthly and 4.2% annually expected.<\/span><\/p>\n

The data shows the labor market maintaining strength amid the Fed\u2019s fight against inflation.<\/span><\/p>\n

Apple Tops Fiscal Q2 Expectations\u00a0<\/span><\/h2>\n

Apple <\/b>(AAPL) shares are up 2.9% ahead of the open after reporting better-than-expected fiscal Q2 results, driven by strong iPhone sales.\u00a0<\/span><\/p>\n

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

    \n
  • EPS $1.52 vs $1.43 expected<\/span><\/li>\n
  • Revenue: $94.84 billion vs $92.96 billion expected<\/span><\/li>\n
  • Gross margin: 44.3% vs 44.1% expected<\/span><\/li>\n<\/ul>\n

    Here\u2019s how Apple\u2019s revenue broke down by product:\u00a0<\/span><\/p>\n

      \n
    • iPhone revenue: $51.33 billion vs $48.84 billion expected<\/span><\/li>\n
    • Mac revenue: $7.17 billion vs $7.80 billion expected\u00a0<\/span><\/li>\n
    • iPad revenue: $6.67 billion vs $6.69 billion expected\u00a0<\/span><\/li>\n
    • Other products revenue: $8.76 billion vs $8.43 billion expected\u00a0<\/span><\/li>\n
    • Services revenue: $20.91 billion vs. $20.97 billion expected\u00a0<\/span><\/li>\n<\/ul>\n

      Apple did not provide official guidance.<\/span><\/p>\n

      The company\u2019s board authorized up to $90 billion in shares buybacks and hiked its dividend 4% to $0.24 per share.<\/span><\/p>\n

      Coinbase Rallies On Q1 Beat<\/span><\/h2>\n

      Coinbase <\/b>(COIN) shares are rallying 9.6% in premarket trade after beating Q1 expectations.\u00a0<\/span><\/p>\n

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

        \n
      • Loss per share: $0.34 vs $1.45 expected<\/span><\/li>\n
      • Revenue: $772.53 million vs $655 million expected<\/span><\/li>\n<\/ul>\n

        Consumer trading volume plunged 71% year over year but subscription and services revenue more than doubled to $361.7 million.\u00a0<\/span><\/p>\n

        Coinbase forecast $300 million in Q2 subscription and services revenue and said it plans to focus on cost reduction efforts.<\/span><\/p>\n

        Block Tops Q1 Revenue Expectations<\/span><\/h2>\n

        Block <\/b>(SQ) shares are up 2.8% ahead of the open after beating Q1 revenue expectations.\u00a0<\/span><\/p>\n

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

          \n
        • Loss per share: $0.40 vs $0.35 earnings per share expected<\/span><\/li>\n
        • Revenue: $4.99 billion vs $4.6 billion expected<\/span><\/li>\n<\/ul>\n

          That higher than expected revenue was driven by Block\u2019s Cash App mobile payments platform.\u00a0<\/span><\/p>\n

          Cash App\u2019s gross profit grew 49% year over year and monthly active card actives jumped 34%.\u00a0<\/span><\/p>\n

          Block\u2019s point-of-sale system Square\u2019s gross profit increased just 16%.\u00a0<\/span><\/p>\n

          The company raised its full-year adjusted ebitda forecast to $1.36 billion from $1.3 billion previously.\u00a0<\/span><\/p>\n

          Lyft Plunges On Weak Guidance<\/span><\/h2>\n

          Lyft <\/b>(LYFT) shares are plunging 15.2% in premarket trade after mixed Q1 results and weak Q2 guidance.<\/span><\/p>\n

          Here\u2019s how the ride-hailing company\u2019s results compared to analysts\u2019 estimates:\u00a0<\/span><\/p>\n

            \n
          • Loss per share: $0.07 vs $0.06 expected<\/span><\/li>\n
          • Revenue: $1 billion vs $981 million expected<\/span><\/li>\n<\/ul>\n

            Lyft expects Q2 revenue between $1 billion and $1.02 billion vs analysts\u2019 projections for $1.08 billion.\u00a0<\/span><\/p>\n

            The company anticipates adjusted ebitda between $20 million and $30 million vs analysts\u2019 estimates of $49.3 million.<\/span><\/p>\n

            DoorDash Jumps After Earnings<\/span><\/h2>\n

            DoorDash <\/b>(DASH) shares are up 4.4% ahead of the open after reporting strong Q1 results.\u00a0<\/span><\/p>\n

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

              \n
            • Loss per share: $0.41 vs $0.58 expected<\/span><\/li>\n
            • Revenue: $2.04 billion vs $1.93 billion expected<\/span><\/li>\n<\/ul>\n

              Total orders jumped 27% year over year to 512 million vs 493 million expected.\u00a0<\/span><\/p>\n

              DoorDash hiked its full-year guidance for gross order value to between $63 billion and $64.5 billion, up from $60 billion to $63 billion previously.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

              DJIA Futures: +221 (+0.7%) SPX Futures: +33 (+0.8%) NASDAQ Futures: +87 (+0.7%) Good morning friends! Futures are higher as traders digest a hot jobs report and key earnings. Let\u2019s get right to it! Hot Labor Market The U.S. economy added far more jobs than expected in April.\u00a0 The Labor Department reported a gain of 253,000 jobs last month vs expectations for 180,000. The unemployment rate also fell unexpectedly to 3.4% vs expectations for an increase to 3.6%.\u00a0 That tied for the lowest level since 1969.\u00a0 Average hourly earnings rose 0.5% monthly and 4.4% annually vs 0.3% monthly and 4.2% annually expected. The data shows the labor market maintaining strength amid the Fed\u2019s fight against inflation. Apple Tops Fiscal Q2 Expectations\u00a0 Apple (AAPL) shares are up 2.9% ahead of the open after reporting better-than-expected fiscal Q2 results, driven by strong iPhone sales.\u00a0 Here\u2019s how the iPhone maker\u2019s results compared to analysts\u2019 estimates:\u00a0 EPS $1.52 vs $1.43 expected Revenue: $94.84 billion vs $92.96 billion expected Gross margin: 44.3% vs 44.1% expected Here\u2019s how Apple\u2019s revenue broke down by product:\u00a0 iPhone revenue: $51.33 billion vs $48.84 billion expected Mac revenue: $7.17 billion vs $7.80 billion expected\u00a0 iPad revenue: $6.67 billion vs $6.69 billion expected\u00a0 Other products revenue: $8.76 billion vs $8.43 billion expected\u00a0 Services revenue: $20.91 billion vs. $20.97 billion expected\u00a0 Apple did not provide official guidance. The company\u2019s board authorized up to $90 billion in shares buybacks and hiked its dividend 4% to $0.24 per share. Coinbase Rallies On Q1 Beat Coinbase (COIN) shares are rallying 9.6% in premarket trade after beating Q1 expectations.\u00a0 Here\u2019s how the crypto exchange\u2019s results compared to analysts\u2019 estimates:\u00a0 Loss per share: $0.34 vs $1.45 expected Revenue: $772.53 million vs $655 million expected Consumer trading volume plunged 71% year over year but subscription and services revenue more than doubled to $361.7 million.\u00a0 Coinbase forecast $300 million in Q2 subscription and services revenue and said it plans to focus on cost reduction efforts. Block Tops Q1 Revenue Expectations Block (SQ) shares are up 2.8% ahead of the open after beating Q1 revenue expectations.\u00a0 Here\u2019s how the payments company\u2019s results compared to analysts\u2019 estimates:\u00a0 Loss per share: $0.40 vs $0.35 earnings per share expected Revenue: $4.99 billion vs $4.6 billion expected That higher than expected revenue was driven by Block\u2019s Cash App mobile payments platform.\u00a0 Cash App\u2019s gross profit grew 49% year over year and monthly active card actives jumped 34%.\u00a0 Block\u2019s point-of-sale system Square\u2019s gross profit increased just 16%.\u00a0 The company raised its full-year adjusted ebitda forecast to $1.36 billion from $1.3 billion previously.\u00a0 Lyft Plunges On Weak Guidance Lyft (LYFT) shares are plunging 15.2% in premarket trade after mixed Q1 results and weak Q2 guidance. Here\u2019s how the ride-hailing company\u2019s results compared to analysts\u2019 estimates:\u00a0 Loss per share: $0.07 vs $0.06 expected Revenue: $1 billion vs $981 million expected Lyft expects Q2 revenue between $1 billion and $1.02 billion vs analysts\u2019 projections for $1.08 billion.\u00a0 The company anticipates adjusted ebitda between $20 million and $30 million vs analysts\u2019 estimates of $49.3 million. DoorDash Jumps After Earnings DoorDash (DASH) shares are up 4.4% ahead of the open after reporting strong Q1 results.\u00a0 Here\u2019s how the delivery platform\u2019s results compared to analysts\u2019 estimates:\u00a0 Loss per share: $0.41 vs $0.58 expected Revenue: $2.04 billion vs $1.93 billion expected Total orders jumped 27% year over year to 512 million vs 493 million expected.\u00a0 DoorDash hiked its full-year guidance for gross order value to between $63 billion and $64.5 billion, up from $60 billion to $63 billion previously.<\/p>\n","protected":false},"author":41,"featured_media":67718,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-67709","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\/67709","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=67709"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/67709\/revisions"}],"predecessor-version":[{"id":67720,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/67709\/revisions\/67720"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/67718"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=67709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=67709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=67709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}