{"id":71713,"date":"2023-10-24T09:01:03","date_gmt":"2023-10-24T13:01:03","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=71713"},"modified":"2023-10-24T09:01:03","modified_gmt":"2023-10-24T13:01:03","slug":"coffee-with-greta-awaiting-big-tech-earnings","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/10\/24\/coffee-with-greta-awaiting-big-tech-earnings\/","title":{"rendered":"Coffee With Greta: Awaiting Big Tech Earnings"},"content":{"rendered":"

DJIA Futures: <\/b>+158 (+0.5%)<\/span><\/p>\n

SPX Futures: <\/b>+24 (+0.6%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+82 (+0.6%)<\/span><\/p>\n

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

Futures are rising as traders assess the latest batch of Q3 earnings and wait for big tech results.<\/span><\/p>\n

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

Coca-Cola Tops Q3 Expectations, Hikes Outlook<\/span><\/h2>\n

Coca-Cola <\/b>(KO) shares are up 3% ahead of the open after beating Q3 expectations on the top and bottom line.\u00a0<\/span><\/p>\n

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

    \n
  • Adjusted EPS: $0.74 vs $0.69 expected<\/span><\/li>\n
  • Revenue: $11.91 billion vs $11.44 billion expected<\/span><\/li>\n<\/ul>\n

    Net sales rose 8% year over year while organic revenue jumped 11%.\u00a0<\/span><\/p>\n

    Prices were 9% higher than a year ago but Coke said in July it is done hiking prices further.\u00a0<\/span><\/p>\n

    For the full-year, the company now expects comparable EPS growth of 7% to 8% vs 5% to 6% previously.\u00a0<\/span><\/p>\n

    Coke expects organic revenue growth of 10% to 11% vs 8% to 9% previously.\u00a0<\/span><\/p>\n

    General Motors Beats Q3 Estimates<\/span><\/h2>\n

    General Motors <\/b>(GM) shares are rising 1.3% in premarket trade after beating Q3 expectations on the top and bottom line.\u00a0<\/span><\/p>\n

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

      \n
    • Adjusted EPS: $2.28 vs $1.88 expected<\/span><\/li>\n
    • Revenue: $44.13 billion vs $43.68 billion expected<\/span><\/li>\n<\/ul>\n

      Net income was down 7.3% from a year ago while revenue increased 5.4%.\u00a0<\/span><\/p>\n

      Adjusted earnings in North America fell 9.5% year over year while international adjusted EPS rose by 7%.\u00a0<\/span><\/p>\n

      GM pulled its full-year forecast amid uncertainty about the impact of the ongoing UAW strikes.\u00a0<\/span><\/p>\n

      The CFO also said the company was pulling its near-term targets for electric vehicles due to slower-than-expected demand.\u00a0<\/span><\/p>\n

      GM previously set goals to sell 400,000 EVs in North America from 2022 through mid-2024.\u00a0<\/span><\/p>\n

      3M Jumps On Earnings Beat, Guidance Hike<\/span><\/h2>\n

      3M <\/b>(MMM) shares are rallying 4.6% ahead of the open after beating Q3 expectations and raising its guidance.\u00a0<\/span><\/p>\n

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

        \n
      • Adjusted EPS: $2.68 vs $2.34 expected<\/span><\/li>\n
      • Revenue: $8.31 billion vs $7.99 billion expected<\/span><\/li>\n<\/ul>\n

        The company raised its full-year outlook following the beat.\u00a0<\/span><\/p>\n

        3M now expects adjusted EPS between $8.95 and $9.15 this year vs $8.60 to $9.10 previously.\u00a0<\/span><\/p>\n

        The company forecast adjusted total sales growth of -5% vs previous guidance for -5% to -1%.\u00a0<\/span><\/p>\n

        Spotify Jumps On Q3 Beat<\/span><\/h2>\n

        Spotify <\/b>(SPOT) shares are jumping 5.1% in premarket trade after topping Q3 expectations on the top and bottom line.<\/span><\/p>\n

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

          \n
        • Adjusted EPS: \u20ac0.33 vs \u20ac0.22 loss expected<\/span><\/li>\n
        • Revenue: \u20ac3.36 billion vs \u20ac3.33 billion expected<\/span><\/li>\n<\/ul>\n

          This marked Spotify\u2019s first quarterly profit in more than a year.\u00a0<\/span><\/p>\n

          The company also topped subscriber expectations.\u00a0<\/span><\/p>\n

          Spotify said it had 574 million monthly active users during the quarter and 226 million premium subscribers, both ahead of estimates.\u00a0<\/span><\/p>\n

          The company forecast Q4 operating profit of \u20ac37 million on revenue of \u20ac3.7 billion, with a gross margin of 26.6%.<\/span><\/p>\n

          Spotify expects monthly active users to increase to 601 million this quarter and premium subscribers to climb to 235 million.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

          DJIA Futures: +158 (+0.5%) SPX Futures: +24 (+0.6%) NASDAQ Futures: +82 (+0.6%) Good morning friends! Futures are rising as traders assess the latest batch of Q3 earnings and wait for big tech results. Let\u2019s get right to it! Coca-Cola Tops Q3 Expectations, Hikes Outlook Coca-Cola (KO) shares are up 3% ahead of the open after beating Q3 expectations on the top and bottom line.\u00a0 Here\u2019s how the beverage giant\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $0.74 vs $0.69 expected Revenue: $11.91 billion vs $11.44 billion expected Net sales rose 8% year over year while organic revenue jumped 11%.\u00a0 Prices were 9% higher than a year ago but Coke said in July it is done hiking prices further.\u00a0 For the full-year, the company now expects comparable EPS growth of 7% to 8% vs 5% to 6% previously.\u00a0 Coke expects organic revenue growth of 10% to 11% vs 8% to 9% previously.\u00a0 General Motors Beats Q3 Estimates General Motors (GM) shares are rising 1.3% in premarket trade after beating Q3 expectations on the top and bottom line.\u00a0 Here\u2019s how the automaker\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $2.28 vs $1.88 expected Revenue: $44.13 billion vs $43.68 billion expected Net income was down 7.3% from a year ago while revenue increased 5.4%.\u00a0 Adjusted earnings in North America fell 9.5% year over year while international adjusted EPS rose by 7%.\u00a0 GM pulled its full-year forecast amid uncertainty about the impact of the ongoing UAW strikes.\u00a0 The CFO also said the company was pulling its near-term targets for electric vehicles due to slower-than-expected demand.\u00a0 GM previously set goals to sell 400,000 EVs in North America from 2022 through mid-2024.\u00a0 3M Jumps On Earnings Beat, Guidance Hike 3M (MMM) shares are rallying 4.6% ahead of the open after beating Q3 expectations and raising its guidance.\u00a0 Here\u2019s how the consumer goods giant\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $2.68 vs $2.34 expected Revenue: $8.31 billion vs $7.99 billion expected The company raised its full-year outlook following the beat.\u00a0 3M now expects adjusted EPS between $8.95 and $9.15 this year vs $8.60 to $9.10 previously.\u00a0 The company forecast adjusted total sales growth of -5% vs previous guidance for -5% to -1%.\u00a0 Spotify Jumps On Q3 Beat Spotify (SPOT) shares are jumping 5.1% in premarket trade after topping Q3 expectations on the top and bottom line. Here\u2019s how the music streaming giant\u2019s results compared to analysts\u2019 estimates: Adjusted EPS: \u20ac0.33 vs \u20ac0.22 loss expected Revenue: \u20ac3.36 billion vs \u20ac3.33 billion expected This marked Spotify\u2019s first quarterly profit in more than a year.\u00a0 The company also topped subscriber expectations.\u00a0 Spotify said it had 574 million monthly active users during the quarter and 226 million premium subscribers, both ahead of estimates.\u00a0 The company forecast Q4 operating profit of \u20ac37 million on revenue of \u20ac3.7 billion, with a gross margin of 26.6%. Spotify expects monthly active users to increase to 601 million this quarter and premium subscribers to climb to 235 million.<\/p>\n","protected":false},"author":41,"featured_media":71715,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-71713","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\/71713","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=71713"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/71713\/revisions"}],"predecessor-version":[{"id":71716,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/71713\/revisions\/71716"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/71715"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=71713"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=71713"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=71713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}