CalypsoArt
As corporate America comes closer to the conclusion of first-quarter earnings, here is a weekly recap of the top companies that caught investor’s attention.
Of the 10 S&P 500 names that reported results, all of them had EPS above analyst expectations, while only four managed to deliver revenues that were ahead of what Wall Street expected; the remaining six missed revenue estimates.
Starting with the technology sector, this week, Salesforce (CRM) posted a topline miss but a bottom-line beat. Shares of the enterprise software giant had one of the worst reactions to a corporate earnings report this quarter, as CRM saw its stock drop 19.4% on softer-than-expected guidance.
Meanwhile, HP (HPQ) posted second-quarter per-share earnings and revenue that soared past estimates. Shares surged as investors rejoiced on indications that the refresh cycle for personal computers has arrived.
Moving to consumer staples, Costco Wholesale (COST) posted per-share earnings that were $0.10 ahead of estimates, while revenue was about half a billion dollars more than expectations. The big box retailer did not announce a membership fee with its earnings release.
Dollar General (DG) had a similar show, with both top-line and bottom-line beat. The company saw its operating profit decrease 26.3% to $546.1 million compared to $740.9 million a year ago.
Among healthcare companies, Agilent Technologies (A) beat EPS estimates but missed expectations on revenue. The company’s stock fell 14% as Agilent revised its fiscal 2024 full-year revenue and earnings guidance, with both below consensus estimates.
For the upcoming week, notable companies that are reporting their results include Hewlett Packard Enterprise (HPE), Bath & Body Works (BBWI), Lululemon Athletica (LULU), and Dollar Tree (DLTR), among others.
