Rippers Weekly Recap 10/29: Apple, Google, Amazon, Microsoft and Many More Earnings

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This week was the busiest earnings week of the cycle so here's a special earnings recap

How The Stock Market Performed This Past Week

Heat Map of the S&P 500

How The Largest Stocks Performed

Earnings, More Earnings, And Even More Earnings

Mega Cap Tech

Alphabet reported earnings after the market closed on Tuesday posting numbers of:

• EPS of $1.06, missing expectations of $1.25

• Revenue of $69.09B, missing expectations of $71.03B

Most Revenue categories for Google missed like services coming in at $61.38B below $64Be and YouTube Ad Rev coming in at $7.1B below $7.5Be, there were still some beats like cloud revenue beating of $6.9B beating $6.6Be

Google’s operating margin was 25% below expectations of 27.9%

Did not provide forward guidance

Ended the quarter with 186,779 up 24% YoY but did say its hiring slowdown will be “more apparent” in 2023

Microsoft reported earnings after the market closed on Tuesday posting numbers of:

• EPS of $2.35, beating expectations of $2.29

• Revenue of $50.12B, beating expectations of $50.08B

Microsoft was able to record small beats in the majority of its Q1 numbers

GitHub is now brings in $1 Billion of revenue a year

Forward guidance was below expectations due to forecasts of weak PC and AD demand continuing into next quarter while foreign exchange movement is expected to cut sales by 5% during the quarter

Headcount growth during the quarter is expected to be "minimal"

Apple reported earnings after the market closed on Thursday posting numbers of:

• EPS of $1.29, beating expectations of $1.26

• Revenue of $90.15B, beating expectations of $90.0B

​How each revenue segment performed compared to expectations:

• iPhone: $42.63B missing $42.67B

• Services: $19.19B missing $19.97B

• Mac: $11.51B beating $9.25B

• Wearable: $9.65B beating $8.8B

• iPad: $7.17B missing $7.81B

Apple said it expects revenue next quarter to decelerate compared to this past quarter along with an expected 10% negative YoY impact from foreign exchange rates

Apple's active installed base of devices hit a new all-time high

Amazon reported earnings after the market closed on Thursday posting numbers of: 

• EPS of $0.20, missing expectations of $0.22

• Rev of $127.10B, beating expectations of $126.42

The majority of Amazon’s numbers for the current quarter were either small beats or small misses … Amazon moved lower off its forward guide saying next quarter it expects:

• Net sales between $140B-$148B below expectations of $155.52B

• Operating Income between $0-$4B below expectations of $4.66B

• Unfavorable impact of 4.6% YoY from foreign exchange movements

Tuesday

UPS reported earnings before the market opened posting numbers of: 

• EPS of $2.99, beating expectations of $2.84

• Revenue of $24.16B, missing expectations of $24.42B

General Motors reported earnings before the market opened posting numbers of:

• EPS of $2.25, beating expectations of $1.89

• Revenue of $41.89, missing expectations of $41.78

Coca-Cola reported earnings before the market opened posting numbers of: 

• EPS of $0.69, beating expectations of $0.64

• Revenue of $11.06, beating expectations of $10.52

Coke reported organic revenue growth of 16% during the quarter and raised its full-year outlook for adjusted EPS and revenue growth

Raytheon reported earnings before the market opened posting numbers of:

• EPS of $1.21, beating expectations of $1.14

• Revenue of $16.95B, missing expectations of $17.28B

General Electric reported earnings before the market opened posting numbers of:

• EPS of $0.35, missing expectations of $0.50

• Revenue of $18.44B, missing expectations of $18.72B

Visa reported earnings after the market closed posting numbers of:

• EPS of $1.93, beating expectations of $1.86

• Revenue of $7.79B, beating expectations of $7.54B

Visa increased its quarterly dividend to $0.45 per share up from $0.38 while also announcing a new $12 Billion share buyback program

Chipotle reported earnings after the market closed posting numbers of:

• EPS of $9.51, beating expectations of $9.11

• Revenue of $7.79B, beating expectations of $7.54B

Wednesday

Boeing reported earnings before the market opened posting numbers of:

• EPS of -$6.18, missing expectations of -$0.01

• Revenue of $15.96B, missing expectations of $18.87B

EPS was a large miss because the company record a 1-time loss from its defense development program

Boeing's total backlog is now worth $381 Billion including over 4,300 commercial planes

Waste Management reported earnings before the market opened posting numbers of:

• EPS of $1.56, beating expectations of $1.50

• Revenue of $5.08B, beating expectations of $5.04B

Bristol Myers reported earnings before the market opened posting numbers of: 

• EPS of $1.99, beating expectations of $1.83

• Revenue of $11.22B, beating expectations of $11.19B

Meta Platforms reported earnings after the market closed posting numbers of:

• EPS of $1.64 missing expectations of $1.88

• Revenue of $27.71B, missing expectations of $28.87B

3.71 Billion people or 47.3% of the world’s population used a product owned by Meta on a monthly basis last quarter with Instagram having more than 2 Billion monthly active users and WhatsApp having more than 2 Billion daily active users

Meta said next quarter it expects revenue between $30B-$32.5B compared to expectations of $32.2B

The Metaverse brought in revenue of $285M for Meta last quarter below expectations of $406.3M resulting in operating losses of $3.67 Billion for the segment above expectations of $3.09B … Meta said it expects operating loss for the reality labs business to be “significantly higher” in 2023

Ford reported earnings after the market closed posting numbers of: 

• EPS of $0.30, missing expectations of $0.31

• Revenue of $39.39B, beating expectations of $37.41B

Teladoc reported earnings after the market closed posting numbers of: 

• EPS of -$0.45, beating expectations of -$0.59

• Revenue of $611.4M, beating expectations of $609.0M

Thursday

Shopify reported earnings before the market opened posting numbers of:

• EPS of -$0.02, beating expectations of -$0.10

• Revenue of $1.37B beating expectations of $1.31B

Caterpillar reported earnings before the market opened posting numbers of:

• EPS of $3.95, beating expectations of $3.19

• Revenue of $14.99B, beating expectations of $14.19B

McDonald’s reported earnings before the market opened posting numbers of:

• EPS of $2.68, beating expectations of $2.57

• Revenue of $5.87B, beating expectations of $5.74B

Global same-store sales grew by 9.5% YoY beating expectations of 5.8% growth

Mastercard reported earnings before the market opened posting numbers of:

• EPS of $2.68, beating expectations of $2.57

• Revenue of $5.8B, beating expectations of $5.7B

Intel reported earnings after the market closed posting numbers of:

• EPS of $0.59, beating expectations of $0.34

• Revenue of $15.34B, missing expectations of $18.62B

Pinterest reported earnings before the market opened on Wednesday posting numbers of: 

• EPS of $0.11, beating expectations of $0.06

• Revenue of $684.6M, beating expectations of $665M

Pinterest reported monthly active users of 445 Million unchanged YoY

Friday

Exxon reported earnings before the market opened posting numbers of:

• EPS of $4.45, beating expectations of $3.88

• Revenue of $112.07B, missing expectations of $119.12B

Exxon set a new quarterly profit record of $19.66B off the back of Q3 production of 3.7M barrels per day

Exxon increased its quarterly dividend to $0.91 per share from $0.88 per share

Chevron reported earnings before the market opened posting numbers of:

• EPS of $5.56, beating expectations of $5.02

• Revenue of $66.64B, beating expectations of $57.94

Abbvie reported earnings before the market opened posting numbers of:

• EPS of $3.66, beating expectations of $3.56

• Revenue of $14.81B, missing expectations of $14.92B

Get Prepared For Next Week

Economic Calendar

Earnings Calendar

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