{"id":71934,"date":"2023-11-02T08:59:12","date_gmt":"2023-11-02T12:59:12","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=71934"},"modified":"2023-11-02T08:59:12","modified_gmt":"2023-11-02T12:59:12","slug":"coffee-with-greta-earnings-rush-2","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/11\/02\/coffee-with-greta-earnings-rush-2\/","title":{"rendered":"Coffee With Greta: Earnings Rush"},"content":{"rendered":"

Register now<\/strong><\/a> for next week's free trading Q&A on LinkedIn with options specialist Dan Darrow!<\/p>\n

DJIA Futures: <\/b>+218 (+0.7%)<\/span><\/p>\n

SPX Futures: <\/b>+39 (+0.9%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+197 (+1.3%)<\/span><\/p>\n

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

Futures are up and yields are falling as traders bet the Fed is done hiking rates and digest a rush of earnings reports ahead of Apple this afternoon.<\/span><\/p>\n

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

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

Starbucks <\/b>(SBUX) shares are rallying 10% ahead of the open after beating fiscal Q4 expectations on the top and bottom line.\u00a0<\/span><\/p>\n

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

    \n
  • EPS: $1.06 vs $0.97 expected<\/span><\/li>\n
  • Revenue: $9.37 billion vs $9.29 billion expected<\/span><\/li>\n<\/ul>\n

    Net sales climbed 11.4% year over year.\u00a0<\/span><\/p>\n

    Starbucks\u2019 same-store sales rose 8% from a year ago vs 6.8% expected, due to higher average checks and a 3% increase in customer traffic.\u00a0<\/span><\/p>\n

    The average check in the U.S. rose 6% year over year.\u00a0<\/span><\/p>\n

    Starbucks forecast same-store sales growth of 5% to 7% in fiscal 2024, 10% to 12% revenue growth, and EPS growth of 15% to 20%.\u00a0<\/span><\/p>\n

    Peloton Sinks On Fiscal Q1 Miss<\/span><\/h2>\n

    Peloton <\/b>(PTON) shares are sinking 6.2% in premarket trade after reporting a wider-than-expected loss for its fiscal first quarter.\u00a0<\/span><\/p>\n

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

      \n
    • Loss per share: $0.44 vs $0.34 expected<\/span><\/li>\n
    • Revenue: $595.5 million vs $591 million expected<\/span><\/li>\n
    • Connected fitness subscriptions: 2.96 million vs 2.99 million expected<\/span><\/li>\n<\/ul>\n

      Subscription revenue of $415 million far outpaced hardware sales revenue of $180.6 million.\u00a0<\/span><\/p>\n

      Peloton forecast fiscal Q2 revenue between $715 million and $750 million, down 8% at the midpoint from a year ago and lower than $763.2 million expected.<\/span><\/p>\n

      The company expects between 2.97 million and 2.98 million paid subscriptions during the current quarter, lower than 3.03 million expected.\u00a0<\/span><\/p>\n

      Shopify Skyrockets On Strong Earnings<\/span><\/h2>\n

      Shopify <\/b>(SHOP) shares are surging 16.6% ahead of the open after topping Q3 expectations on the top and bottom line.\u00a0<\/span><\/p>\n

      Here\u2019s how the e-commerce platform\u2019s results compared to analysts\u2019 estimates:<\/span><\/p>\n

        \n
      • Adjusted EPS: $0.24 vs $0.15 expected<\/span><\/li>\n
      • Revenue: $1.7 billion vs $1.67 billion expected<\/span><\/li>\n<\/ul>\n

        Gross merchandise volume jumped 22% year over year to $56.2 billion vs $54.3 billion expected.\u00a0<\/span><\/p>\n

        Shopify forecast Q4 revenue growth in the high-teens percentage rate and full-year revenue growth in the mid 20% range<\/span><\/p>\n

        Qualcomm Jumps After Solid Earnings, Strong Forecast<\/span><\/h2>\n

        Qualcomm <\/b>(QCOM) shares are up 6.7% in premarket trade after beating fiscal Q4 expectations on the top and bottom line.\u00a0<\/span><\/p>\n

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

          \n
        • Adjusted EPS: $2.02 vs $1.91 expected<\/span><\/li>\n
        • Adjusted Revenue: $8.67 billion vs $8.51 billion expected<\/span><\/li>\n<\/ul>\n

          Net income dropped 48% year over year with adjusted revenue down 19%.\u00a0<\/span><\/p>\n

          Qualcomm forecast fiscal Q1 EPS between $2.25 and $2.45 on revenue between $9.1 billion and $9.9 billion.\u00a0<\/span><\/p>\n

          That topped analysts\u2019 estimates for EPS of $2.23 on $9.2 billion in revenue.\u00a0<\/span><\/p>\n

          Roku Surges On Revenue Beat<\/span><\/h2>\n

          Roku <\/b>(ROKU) shares are rallying 19.7% ahead of the open after reporting mixed Q3 results and a larger-than-expected increase in active accounts.\u00a0<\/span><\/p>\n

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

            \n
          • Loss per share: $2.33 vs $2.04 expected<\/span><\/li>\n
          • Revenue: $912 million vs $857 million expected<\/span><\/li>\n
          • Active accounts: 75.8 million vs 75.3 million expected<\/span><\/li>\n<\/ul>\n

            Revenue jumped nearly 20% year over year and active accounts were up by 2.3 million from the second quarter.\u00a0<\/span><\/p>\n

            Roku forecast Q4 revenue of about $955 million, better than expected.\u00a0<\/span><\/p>\n

            The company also projected $10 million in adjusted ebitda for the current quarter.<\/span><\/p>\n

            Weekly Jobless Claims Hit 7-Week High<\/span><\/h2>\n

            Weekly jobless claims rose to the highest level in seven weeks.\u00a0<\/span><\/p>\n

            The Labor Department reported 217,000 Americans filed initial claims for unemployment benefits last week.\u00a0<\/span><\/p>\n

            That was up by 5,000 from the previous week and higher than 210,000 expected.\u00a0<\/span><\/p>\n

            Continuing claims rose by 35,000 to 1.818 million vs 1.800 million expected in the week ending October 21.<\/span><\/p>\n

            This marks the sixth straight week continuing claims have increased.\u00a0<\/span><\/p>\n

            In Case You Missed It<\/span><\/h2>\n
              \n
            • The Federal Reserve held interest rates steady in a range of 5.25% to 5.5% on Wednesday. The FOMC statement added language about tighter \u201cfinancial conditions\u201d impacting economic conditions, after the recent surge in Treasury yields. Chairman Powell said the committee is undecided on whether another rate hike will be needed in December and said they will remain \u201cdata dependent.\u201d<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

              Register now for next week’s free trading Q&A on LinkedIn with options specialist Dan Darrow! DJIA Futures: +218 (+0.7%) SPX Futures: +39 (+0.9%) NASDAQ Futures: +197 (+1.3%) Good morning friends! Futures are up and yields are falling as traders bet the Fed is done hiking rates and digest a rush of earnings reports ahead of Apple this afternoon. Let\u2019s get right to it! Starbucks Rallies On Earnings Beat Starbucks (SBUX) shares are rallying 10% ahead of the open after beating fiscal Q4 expectations on the top and bottom line.\u00a0 Here\u2019s how the coffee giant\u2019s results compared to analysts\u2019 estimates:\u00a0 EPS: $1.06 vs $0.97 expected Revenue: $9.37 billion vs $9.29 billion expected Net sales climbed 11.4% year over year.\u00a0 Starbucks\u2019 same-store sales rose 8% from a year ago vs 6.8% expected, due to higher average checks and a 3% increase in customer traffic.\u00a0 The average check in the U.S. rose 6% year over year.\u00a0 Starbucks forecast same-store sales growth of 5% to 7% in fiscal 2024, 10% to 12% revenue growth, and EPS growth of 15% to 20%.\u00a0 Peloton Sinks On Fiscal Q1 Miss Peloton (PTON) shares are sinking 6.2% in premarket trade after reporting a wider-than-expected loss for its fiscal first quarter.\u00a0 Here\u2019s how the fitness company\u2019s results compared to analysts\u2019 estimates:\u00a0 Loss per share: $0.44 vs $0.34 expected Revenue: $595.5 million vs $591 million expected Connected fitness subscriptions: 2.96 million vs 2.99 million expected Subscription revenue of $415 million far outpaced hardware sales revenue of $180.6 million.\u00a0 Peloton forecast fiscal Q2 revenue between $715 million and $750 million, down 8% at the midpoint from a year ago and lower than $763.2 million expected. The company expects between 2.97 million and 2.98 million paid subscriptions during the current quarter, lower than 3.03 million expected.\u00a0 Shopify Skyrockets On Strong Earnings Shopify (SHOP) shares are surging 16.6% ahead of the open after topping Q3 expectations on the top and bottom line.\u00a0 Here\u2019s how the e-commerce platform\u2019s results compared to analysts\u2019 estimates: Adjusted EPS: $0.24 vs $0.15 expected Revenue: $1.7 billion vs $1.67 billion expected Gross merchandise volume jumped 22% year over year to $56.2 billion vs $54.3 billion expected.\u00a0 Shopify forecast Q4 revenue growth in the high-teens percentage rate and full-year revenue growth in the mid 20% range Qualcomm Jumps After Solid Earnings, Strong Forecast Qualcomm (QCOM) shares are up 6.7% in premarket trade after beating fiscal Q4 expectations on the top and bottom line.\u00a0 Here\u2019s how the chipmaker\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $2.02 vs $1.91 expected Adjusted Revenue: $8.67 billion vs $8.51 billion expected Net income dropped 48% year over year with adjusted revenue down 19%.\u00a0 Qualcomm forecast fiscal Q1 EPS between $2.25 and $2.45 on revenue between $9.1 billion and $9.9 billion.\u00a0 That topped analysts\u2019 estimates for EPS of $2.23 on $9.2 billion in revenue.\u00a0 Roku Surges On Revenue Beat Roku (ROKU) shares are rallying 19.7% ahead of the open after reporting mixed Q3 results and a larger-than-expected increase in active accounts.\u00a0 Here\u2019s how the streaming giant\u2019s results compared to analysts\u2019 estimates: Loss per share: $2.33 vs $2.04 expected Revenue: $912 million vs $857 million expected Active accounts: 75.8 million vs 75.3 million expected Revenue jumped nearly 20% year over year and active accounts were up by 2.3 million from the second quarter.\u00a0 Roku forecast Q4 revenue of about $955 million, better than expected.\u00a0 The company also projected $10 million in adjusted ebitda for the current quarter. Weekly Jobless Claims Hit 7-Week High Weekly jobless claims rose to the highest level in seven weeks.\u00a0 The Labor Department reported 217,000 Americans filed initial claims for unemployment benefits last week.\u00a0 That was up by 5,000 from the previous week and higher than 210,000 expected.\u00a0 Continuing claims rose by 35,000 to 1.818 million vs 1.800 million expected in the week ending October 21. This marks the sixth straight week continuing claims have increased.\u00a0 In Case You Missed It The Federal Reserve held interest rates steady in a range of 5.25% to 5.5% on Wednesday. The FOMC statement added language about tighter \u201cfinancial conditions\u201d impacting economic conditions, after the recent surge in Treasury yields. Chairman Powell said the committee is undecided on whether another rate hike will be needed in December and said they will remain \u201cdata dependent.\u201d<\/p>\n","protected":false},"author":41,"featured_media":71941,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-71934","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\/71934","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=71934"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/71934\/revisions"}],"predecessor-version":[{"id":71942,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/71934\/revisions\/71942"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/71941"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=71934"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=71934"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=71934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}