In this article, we will take a look at the 10 must-watch quarterly reports. You can skip our detailed analysis of these companies, and go directly to the 5 Must-Watch Quarterly Reports.
Notable stocks from technology and communication services sectors, including Uber Technologies, Inc. (NYSE:UBER), Square, Inc. (NYSE:SQ), Pinterest, Inc. (NYSE:PINS), and Airbnb, Inc. (NASDAQ:ABNB), recently released their financial results for the third quarter.
Shares of Uber Technologies, Inc. (NYSE:UBER), Pinterest, Inc. (NYSE:PINS), and Airbnb, Inc. (NASDAQ:ABNB) gained value while trading on heavy volume following the results. In addition, several other companies, including Moderna, Inc. (NASDAQ:MRNA), Datadog, Inc. (NASDAQ:DDOG), and Zoetis Inc. (NYSE:ZTS), also caught investors’ attention after releasing their earnings reports.
Photo by Austin Distel on Unsplash
We will evaluate the detailed performance of these stocks in the remaining article. So, without wasting any time, let’s start our list of 10 must-watch quarterly reports.
10 Must-Watch Quarterly Reports
10. Wayfair Inc. (NYSE:W)
Number of Hedge Fund Holders: 35
Shares of Wayfair Inc. (NYSE:W) fell nearly four percent on Friday, 5 November 2021, after delivering mixed financial results for the third quarter. The online retailer of furniture and home goods reported adjusted earnings of 14 cents per share, well below $2.30 per share in the same period last year.
Analysts were expecting Wayfair Inc. (NYSE:W) to earn 1 cent per share. On the downside, the company’s quarterly revenue declined 18.7 percent on a year-over-year basis to $3.1 billion, missing the consensus forecast of $3.238 billion.
Revenue from the U.S. decreased 20.8 percent versus last year to $2.6 billion, while international revenue slipped 6.8 percent to $0.5 billion. In addition, Wayfair Inc. (NYSE:W) announced that its active customers in the quarter increased 1.5 percent on a year-over-year basis to 29.2 million.
Speaking on the results, CEO Niraj Shah said in a statement:
“Demand and interest in the home remains resilient, but it will take a few more quarters for our growth – and e-commerce growth in general – to get back to normal.”
9. Moderna, Inc. (NASDAQ:MRNA)
Number of Hedge Fund Holders: 37
Shares of Moderna, Inc. (NASDAQ:MRNA) plunged to a four-month low after its third-quarter profit and sales fell short of expectations. The Cambridge, Massachusetts-based biotechnology company reported earnings of $7.70 per share, compared to a loss of 59 cents per share in the year-ago quarter.
Revenue came in at $5 billion versus $157 million in the same period last year. The results were well below the consensus forecast of $9.09 per share for earnings and $6.2 billion for revenue.
Moderna, Inc. (NASDAQ:MRNA) also reduced its product sales outlook for fiscal 2021. It now expects coronavirus vaccine revenue in the range of $15 billion to $18 billion for the full year, compared to its earlier forecast of $20 billion.
Like Moderna, Inc. (NASDAQ:MRNA), investors are also closely watching Uber Technologies, Inc. (NYSE:UBER), Square, Inc. (NYSE:SQ), Pinterest, Inc. (NYSE:PINS), and Airbnb, Inc. (NASDAQ:ABNB) after their earnings reports.
8. Monster Beverage Corporation (NASDAQ:MNST)
Number of Hedge Fund Holders: 46
Shares of Monster Beverage Corporation (NASDAQ:MNST) closed higher on Friday, 5 November 2021, despite missing profit expectations for the third quarter. The producer of energy drinks earned 63 cents per share, below analysts’ average estimate of 67 cents per share.
On the bright side, quarterly revenue of $1.41 billion surpassed the consensus forecast of $1.40 billion. Monster Beverage Corporation (NASDAQ:MNST) had posted earnings of 65 cents per share on revenue of $1.25 billion for the comparable period of 2020.
If we look at the performance of flagship segments, revenue from the drinks segment jumped 14.3 percent to $1.33 billion, while revenue from the strategic brands segment inched up 0.2 percent to $74.4 million in the quarter. On the downside, revenue from the other segment came in at $6.3 million versus $8.6 million in the year-ago quarter.
Discussing the results, Co-CEO Hilton Schlosberg said in a statement:
“We are experiencing increased costs in our operations, including aluminum, shipping, freight and other inputs, some of which are likely to be transitory. We will continue to implement measures to mitigate such increased costs through reductions in promotions and other pricing actions in the United States and in EMEA.”
7. DISH Network Corporation (NASDAQ:DISH)
Number of Hedge Fund Holders: 51
Shares of DISH Network Corporation (NASDAQ:DISH) recently dropped to a nearly seven-month low after announcing weak financial results for the third quarter. The Colorado-based company reported earnings of 88 cents per share, slightly higher than 86 cents per share in the year-ago quarter.
Analysts were expecting DISH Network Corporation (NASDAQ:DISH) to post earnings of 91 cents per share. In addition, the company’s quarterly revenue slipped to $4.45 billion versus $4.53 billion last year but came in line with the consensus forecast.
Looking at the key growth drivers, Pay-TV subscribers decreased about 13,000 in the quarter, bringing the total count to 10.98 million. DISH Network Corporation (NASDAQ:DISH) had added approx. 116,000 subscribers in the comparable period of 2020.
In comparison, the company lost 121,000 wireless subscribers in the quarter, compared to a decrease of 212,000 in the same period last year. The company’s wireless subscribers stood at 8.77 million at the end of the quarter.
Like DISH Network Corporation (NASDAQ:DISH), Uber Technologies, Inc. (NYSE:UBER), Square, Inc. (NYSE:SQ), Pinterest, Inc. (NYSE:PINS), and Airbnb, Inc. (NASDAQ:ABNB) also came into the spotlight after posting their financial results.
6. Datadog, Inc. (NASDAQ:DDOG)
Number of Hedge Fund Holders: 56
Shares of Datadog, Inc. (NASDAQ:DDOG) hit an all-time high of $194 on Friday, 5 November 2021, after delivering impressive results for the third quarter along with an upbeat outlook. The company earned 13 cents per share on an adjusted basis, beating the consensus forecast of 6 cents per share.
Revenue came in at $270.5 million, significantly higher than analysts’ average estimate of $247.8 million. Datadog, Inc. (NASDAQ:DDOG) had reported adjusted earnings of 5 cents per share on revenue of $154.7 million for the comparable period of 2020.
The company also released its financial outlook for the full year. Datadog, Inc. (NASDAQ:DDOG) expects adjusted earnings in the range of 39 cents – 40 cents per share and revenue between $993 million – $995 million. The guidance was better than the consensus forecast of 28 cents per share for earnings and $943.7 million for revenue.
Commenting on the results, CEO Olivier Pomel said:
“We are pleased with our third quarter performance, with revenue growth accelerating to 75% year-over-year. We saw broad-based strength across customer segments and products. Digital transformation and cloud migration continue to be transformational forces for companies of all sizes.”
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Disclosure: None. 10 Must-Watch Quarterly Reports is originally published on Insider Monkey.
