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Bank of America
For the transcript and press release click HERE
Q1 GAAP EPS of $0.94 beats by $0.11.
Revenue of $26.3B (+13.4% Y/Y) beats by $1.02B.
Net interest income up $2.9 billion, or 25%, to $14.4 billion driven by benefits from higher interest rates and solid loan growth
Noninterest income of $11.8 billion increased $154 million, or 1%, as higher sales and trading revenue more than offset lower service charges and declines in asset management and investment banking fees
Client balances of $1.6 trillion declined $33 billion, or 2%; up $28 billion, or 2% compared to Q4-22
Provision for credit losses of $931 million increased $901 million
Goldman Sachs
For the transcript and press release click HERE
Q1 GAAP EPS of $8.79 beats by $0.69.
Revenue of $12.22B (-5.5% Y/Y) misses by $440M.
Annualized return on average common shareholders’ equity (ROE) was 11.6% and annualized return on average tangible common shareholders’ equity was 12.6% for the first quarter of 2023.
Assets under supervision increased $125 billion during the quarter to a record $2.67 trillion.
Book value per common share increased by 2.3% during the quarter to $310.48.
Netflix
For the transcript and press release click HERE
I’ve also covered it on my channel.
Q1 GAAP EPS of $2.88 beats by $0.01.
Revenue of $8.16B (+3.7% Y/Y) misses by $20M.
Global Streaming Paid Net Additions: 1.75M up 4.9% YOY
Operating Income: $1.71B — Operating Margin of 21%
Q2 Outlook
Revenue of $8.24B, up 3.4% YOY
Operating Income: $1.56B — Operating Margin of 19%
ASML
For the transcript and press release click HERE
I’ve also covered it on my channel.
Q1 GAAP EPS of €4.96 beats by €0.80.
Revenue of €6.7B (+91.4% Y/Y) beats by €360M.
Gross margin of 50.6%, net income of €2.0B.
Quarterly net bookings in Q1 of €3.8B of which €1.6B is EUV.
Outlook: ASML expects Q2 2023 net sales between €6.5 billion and €7.0 billion and a gross margin between 50% and 51%.
ASML expects R&D costs of around €990 million and SG&A costs of around €275 million.
ASML expects 2023 net sales to grow over 25% compared to 2022.
Tesla
For the transcript and press release click HERE
I’ve also covered it on my channel.
Q1 Non-GAAP EPS of $0.85 in-line.
Revenue of $23.3B (+24.2% Y/Y) misses by $60M.
Total GAAP Gross Margin: 19.3%, down 977bp
Operating Margin: 11.4%, down 779bp
Capex: $2.07B vs. $1.86B in 4Q22. FCF: $441M vs. $1.42B in 4Q22.
The company topped deliveries expectations with 422,875 cars moved in Q1
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TSMC
For the transcript and press release click HERE
I’ve also covered it on my channel.
Q1 GAAP EPADR of $1.31 beats by $0.11.
Revenue of $16.72B (-4.8% Y/Y) misses by $170M.
Gross margin for the quarter was 56.3%, operating margin was 45.5%, and net profit margin was 40.7%.
In the first quarter, shipments of 5-nanometer accounted for 31% of total wafer revenue; 7- nanometer accounted for 20%. Advanced technologies, defined as 7-nanometer and more advanced technologies, accounted for 51% of total wafer revenue.
AT&T
For the transcript and press release click HERE
Q1 Non-GAAP EPS of $0.60 beats by $0.01.
Revenue of $30.14B (+1.4% Y/Y) misses by $80M.
Mobility revenues for the quarter was $20.6B, up 2.5% Y/Y.
The mobility unit had its best-ever first-quarter profitability, as EBITDA rose 8% year-over-year, the company added.
The company also added 272,000 subscribers to its AT&T Fiber internet service, bringing its total to 7.5M subscribers.
American Express
For the transcript and press release click HERE
Q1 GAAP EPS of $2.40 misses by $0.27.
Revenue of $14.28B (+21.7% Y/Y) beats by $260M.
The increase was primarily driven by increased Card Member spending, as well as higher net interest income, reflecting higher average loan volumes.
Consolidated provisions for credit losses were $1.1 billion, reflecting higher net write-offs and a net reserve build of $320 million.
Company Reaffirms Full-Year 2023 Revenue and EPS Guidance
IBM
For the transcript and press release click HERE
Q1 GAAP EPS of $1.36 beats by $0.69.
Revenue of $14.3B (+0.7% Y/Y) misses by $30M.
Software — revenues of $5.9 billion, up 2.6 percent
Consulting — revenues of $5.0 billion, up 2.8 percent
Infrastructure — revenues of $3.1 billion, down 3.7 percent
Full-Year 2023 Expectations
Revenue: The company expects constant currency revenue growth of three percent to five percent. At current foreign exchange rates, currency is expected to be neutral to revenue growth.
Free cash flow: The company continues to expect about $10.5 billion in free cash flow, up more than $1 billion year to year.