Hey reader! 📰
If you’re new here, welcome and if not, welcome back! If you haven’t joined the 670 subscribed members yet and want an earnings summary each Saturday during each earnings season, you can sign up below for FREE (thank you to my paid subscribers!). And consider subscribing to the YouTube channel.
A friendly reminder that the stock price reaction after earnings might have nothing to do with how well/bad the company performed during the quarter.
If you have any companies that are reporting earnings next week and want them to be included, let me know in the comments.
Get 50% OFF Seeking Alpha’s Premium Membership HERE
Now $99 for the first year + a free 7-day trial!
Microsoft
For the transcript and press release click HERE
Q3 Non-GAAP EPS of $2.45 beats by $0.22.
Revenue of $52.86B (+7.0% Y/Y) beats by $1.85B.
Revenue in Productivity and Business Processes was $17.5 billion and increased 11% (up 15% in constant currency)
Revenue in Intelligent Cloud was $22.1 billion and increased 16% (up 19% in constant currency)
Revenue in More Personal Computing was $13.3 billion and decreased 9% (down 7% in constant currency)
FX to cut Q4 revenue growth by 2%.
Q4: Intelligent Cloud revenue $23.6B-$23.9B
More Personal Computing revenue $13.35B-$13.75B
Productivity and Business Processes revenue $17.9B-$18.2B.It expects COGS to grow 3%-4% and expects to scale up CapEx in FY24 for AI and says FY24 OpEx growth 'will remain low'.
Also, it excepts Q4 commercial bookings 'relatively flat'.
Alphabet
For the transcript and press release click HERE
I’ve also covered it on my channel.
Q1 GAAP EPS of $1.17 beats by $0.10.
Revenue of $69.79B (+2.6% Y/Y) beats by $950M.
The Board of Directors of Alphabet authorized the company to repurchase up to an additional $70.0 billion of its Class A and Class C shares in a manner deemed in the best interest of the company and its stockholders.
Meta
For the transcript and press release click HERE
Q1 GAAP EPS of $2.20 beats by $0.23.
Revenue of $28.65B (+2.7% Y/Y) beats by $990M.
Family daily active people (DAP) – DAP was 3.02 billion on average for March 2023, an increase of 5% year-over-year.
Family monthly active people (MAP) – MAP was 3.81 billion as of March 31, 2023, an increase of 5% year-over-year.
Facebook daily active users (DAUs) – DAUs were 2.04 billion on average for March 2023, an increase of 4% year-over-year.
Facebook monthly active users (MAUs) – MAUs were 2.99 billion as of March 31, 2023, an increase of 2% year-over-year.
In the first quarter of 2023, ad impressions delivered across our Family of Apps increased by 26% year-over-year and the average price per ad decreased by 17% year-over-year.
Q2 2023 total revenue to be in the range of $29.5-32 billion vs. $29.47B consensus.
We anticipate our full-year 2023 total expenses will be in the range of $86-90 billion, updated from our prior outlook provided in March.
This outlook includes $3-5 billion of restructuring costs related to facilities consolidation charges and severance and other personnel costs.We continue to expect Reality Labs operating losses to increase year-over-year in 2023.
We expect capital expenditures to be in the range of $30-33 billion, unchanged from our prior estimate. This outlook reflects our ongoing build out of AI capacity to support ads, Feed and Reels, along with an increased investment in capacity for our generative AI initiatives.
Roku
For the transcript and press release click HERE
I’ve also covered it on my channel.
Q1 GAAP EPS of -$1.38 beats by $0.10.
Revenue of $740.99M (+1.0% Y/Y) beats by $33.4M.
Platform revenue was $635 million, down 1% YoY
Gross profit was $338 million, down 7% YoY
Active Accounts were 71.6 million, a net increase of 1.6 million Active Accounts from Q4 2022
Streaming Hours were 25.1 billion, up 4.2 billion hours YoY
Average Revenue Per User was $40.67 (trailing 12-month basis), down 5% YoY
The Roku operating system was the #1 selling smart TV OS in the U.S. with 43% TV unit share.
For Q2 is for total net revenue of roughly $770 million, total gross profit of roughly $335 million, and Adjusted EBITDA of negative $75 million.
Teladoc
For the transcript and press release click HERE
I’ve also covered it on my channel.
Q1 GAAP EPS of -$0.42 beats by $0.08.
Revenue of $629.24M (+11.3% Y/Y) beats by $11M.
2Q23 Guidance: Revenue: $635-660M vs $642.72M consensus. Net loss per share: -$0.55 - -$0.45 vs -$0.37 consensus.
FY23 Guidance: Revenue: $2.575-2.675B vs $2.61B consensus. Net loss per share: -$1.70 - -$1.25 vs -$1.31 consensus.
Together with StockCard
Investing can be a daunting task - but with Stock Card, it doesn't have to be. Our platform provides individual investors with the tools they need to make smarter, more informed decisions, including expert analysis, real-time market insights, and personalized recommendations. Plus, with features like stock tracking and risk analysis, you can manage your investments with ease. Sign up for Stock Card now and start maximizing your returns!
Ready to level up your investment game? Sign up for Stock Card now and get $50 off our annual VIP plan - your portfolio will thank you.
Sign up here and use the promo code scoopbird to get $50 off
Amazon
For the transcript and press release click HERE
I’ve also covered it on my channel.
Q1 GAAP EPS of $0.31 beats by $0.11.
Revenue of $127.4B (+9.5% Y/Y) beats by $2.85B.
North America segment sales increased 11% year-over-year to $76.9 billion.
International segment sales increased 1% year-over-year to $29.1 billion, or increased 9% excluding changes in foreign exchange rates.
AWS segment sales increased 16% year-over-year to $21.4 billion.
Second Quarter 2023 Guidance
Net sales are expected to be between $127.0 billion and $133.0 billion vs. $130.34B consensus, or to grow between 5% and 10% compared with second quarter 2022. This guidance anticipates an unfavorable impact of approximately 30 basis points from foreign exchange rates.
Operating income is expected to be between $2.0 billion and $5.5 billion, compared with $3.3 billion in second quarter 2022.
“We are seeing these optimizations continue into the second quarter with April revenue growth rates about 500 basis points lower than what we saw in Q1.”
"As a reminder, we're not trying to optimize for any one quarter or year. We're working to build customer relationships and a business that will outlast all of us. Therefore, our AWS sales and support teams continue to spend much of their time helping customers optimize their AWS spend so that they can better weather this uncertain economy."
Intel
For the transcript and press release click HERE
I’ve also covered it on my channel.
Q1 Non-GAAP EPS of -$0.04 beats by $0.10.
Revenue of $11.7B (-36.4% Y/Y) beats by $570M.
“We exceeded our first-quarter expectations on the top and bottom line, and continued to be disciplined on expense management as part of our commitment to drive efficiencies and cost savings. At the same time, we are prioritizing the investments needed to advance our strategy and establish an internal foundry model, one of the most consequential steps we are taking to deliver on IDM 2.0.”
Q2 Outlook: Revenue $11.5 to 12.5B vs. consensus of $11.77B; Gross margin 37.5%; expecting second-quarter EPS of $(0.62); non-GAAP EPS of $(0.04) vs. consensus of $0.02.
For the transcript and press release click HERE
I’ve also covered it on my channel.
Q1 Non-GAAP EPS of $0.08 beats by $0.06.
Revenue of $602.58M (+4.8% Y/Y) beats by $9.07M.
Global Monthly Active Users (MAUs) increased 7% year over year to 463 million.
Our current expectation is that Q2 revenue will grow roughly in-line with the growth we saw in Q4 2022 and Q1 2023. We expect our Q2 non-GAAP operating expenses to grow low teens on a percentage basis quarter-over-quarter.
Coca Cola
For the transcript and press release click HERE
Q1 Non-GAAP EPS of $0.68 beats by $0.03.
Global Unit Case Volume Grew 3%
Revenue of $11B (+4.8% Y/Y) beats by $220M.
Revenue performance included 11% growth in price/mix and 1% growth in concentrate sales. Concentrate sales were 2 points behind unit case volume, largely due to the timing of concentrate shipments and the impact of one less day in the quarter.
Full Year 2023: The company re-affirms organic revenue (non-GAAP) growth of 7% to 8%.
The company expects to generate free cash flow (non-GAAP) of approximately $9.5 billion through cash flow from operations of approximately $11.4 billion, less capital expenditures of approximately $1.9 billion.