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I’ll stop wasting your time now and get right into the companies.
Monday 25 October
Facebook/Meta
Full report here
EPS $3.22, EST. $3.17
Revenue: $29.01B up 35% vs EST. $29.45B
Other revenue (Oculus) up 195%
Net income of $9.2B up 17%
Daily Active Users 1.93B, EST. 1.92B up 6%
Monthly Active Users 2.91B, EST. 2.92B up 6%
Starting next quarter, the company will break out revenue from Facebook Reality Labs (FRL) as a separate reporting segment. FRL investment will reduce operating income by $10B in 2021.
Bought back $14B shares and increased buyback authorization by $50B
Q4 outlook
Revenue of $31.5B - $34B vs EST. $34.89B
The stock ended the week up 1%
Tuesday 26 October
AMD
Full report here and recap on the channel here
Revenue grew 54% year over year (YOY) and 12% quarter over quarter (QOQ).
The computing and graphics segment's revenue was $2.4 billion, up 44% YOY and 7% QOQ.
The enterprise, embedded, and semi-custom segment's revenue was $1.9 billion, up 69% YOY and 20% QOQ. The increases were driven by higher EPYC processor (data center processors) and semi-custom product sales (gaming consoles such as the Xbox Series X and PlayStation 5).
Gross profit grew 70% YOY to $2.08 billion, and gross margin came in at 48%, up 450 basis points.
Earnings per share grew 134% YOY and 29% QOQ.
Operating income doubled year over year.
The company raised full-year 2021 revenue guidance to growth of approximately 65%, up from prior guidance of 60% growth.
Guidance for Q4 revenue ~$4.5B +/- $100M vs $4.25B EST.
The stock ended the week down 0.26%
Microsoft
Full report here
Q1 EPS $2.71 vs est. $2.07
Revenue $45.3B up 22% YOY vs est. $43.97B
Operating income was $20.2 billion and increased 27%
Net income was $20.5 billion GAAP and $17.2 billion non-GAAP and increased 48% and 24%, respectively.
Productivity and Business Processes of $15.04B up 22% vs. $14.71B EST.
LinkedIn revenue increased 42%
Intelligent Cloud of $16.96B up 31% vs. $16.58B EST.
More Personal Computing of $13.31B up 12% vs. $12.68B.
Outlook Q2
Productivity and Business Processes revenue between $15.70B-15.95B
Intelligent Cloud, $18.10B-18.35B
Personal computing, $16.35B-$16.75B.
Total revenue comes to $50.15B-$51.05B vs. the consensus of $48.92B.
The stock ended the week up 7.24%
Alphabet
Full report here
EPS $27.99 vs $23.48
Revenue: $65.12 billion up 41% vs. $63.34 billion
YouTube advertising revenue: $7.20 billion vs. $7.4 billion expected.
Google Cloud revenue: $4.99 billion vs. $5.07 billion expected.
Traffic acquisition costs (TAC): $11.50 vs. $11.16 billion expected.
The stock ended the week up 7.62%
Full report here
EPS of -$0.54 vs $0.15
Revenue of $1.28B up 37% YOY in line with expectations.
- Advertising revenue totaled $1.14 billion, an increase of 41% year over year.
- Total ad engagements increased 6% year over year.
- Cost per engagement (CPE) increased 33% year over year
mDAU 211M up 13% YOY
Outlook
Revenue $1.5B-$1.6B Vs $1.58B Est
The stock ended the week down 12.97% (hyperinflate this Jack)
Wednesday 27 October
Teladoc
Full report here and recap on the channel here
Rev $522m +81% beats est $516.6m
Visits 3.9m +37% beats guidance by 10%
EPS -.53 beats -.65
@StockMarketNerd summarized the print very well, you can find it here
The stock ended the week up 8.9%
Spotify
Full report here
Revenue of €2,501 million grew 27% Y/Y
Premium Revenue grew 22% Y/Y to €2,178 million
Ad-Supported Revenue was particularly strong, growing 75% Y/Y to €323 million
MAUs 381M up 19% YOY
Gross margin 26.7%
ARPU €4.34 in Q3 was up 4% Y/Y
FCF €99M
Q4 Outlook
Total MAUs: 400-407 million
Total Premium Subscribers: 177-181 million
Total Revenue: €2.54-€2.68 billion
Gross Margin: 25.1-26.1%
Operating Profit/Loss: €(152)-€(72) million
The stock ended the week up 14.8%
Thursday 28 October
Shopify
Full report here
“It took 15 years for our merchants to get to $200 billion in cumulative GMV, and just 16 months to double that to $400 billion,” said Harley Finkelstein, Shopify’s President.
Total revenue $1.12B, up 46% year over year.
Subscription Solutions revenue was $336.2 million, up 37% year over year
Merchant Solutions revenue was $787.5 million, up 51% year over year
Monthly Recurring Revenue ("MRR") $98.8 million. MRR increased 33% year over year. Shopify Plus contributed $27.2 million, or 28%, of MRR compared with 25% of MRR as of September 30, 2020.
GMV for the third quarter was $41.8 billion, an increase of $10.8 billion or 35% over the third quarter of 2020. Gross Payments Volume ("GPV") grew to $20.5 billion, which accounted for 49% of GMV processed in the quarter, versus $14.0 billion, or 45%, for the third quarter of 2020.
Gross profit dollars grew 50% to $608.9 million in the third quarter of 2021, compared with $405.1 million for the third quarter of 2020.
The stock ended the week up 2.93%
Apple
Full report here
EPS $1.24 vs est. $1.24
Revenue $83.4B vs est. $84.85B
iPhone: $38.87 billion vs $40.578 billion
Mac: $9.18 billion vs $9.28 billion
iPad: $8.25B(+21%) vs $7.16B
Wearables, home, and accessories: $8.79B(+12%) vs $9.28B
Services: $18.28 billion versus $17.60 billion
The stock ended the week up 0.75%
Amazon
Full report here
Revs $110.8B vs $111.8B est
Operating Income $4.9B vs $5.6B est
EPS $6.12 vs $8.96 est
Revenue from AWS $16.11 B vs $15.48B estimates up 39% YOY up from 37% last quarter.
Faster growing segments are now $56.59B in Sales vs. slower at $54.2B.
The stock ended the week up 1.12%
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