5 Companies Making Headlines Following Earnings Reports

In this article, we discuss the 5 companies making headlines following earnings reports. If you want to read our detailed analysis of these companies, go directly to the 11 Companies Making Headlines Following Earnings Reports.

5. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holders: 72

Intel Corporation (NASDAQ:INTC) recently announced better-than-expected financial results for the first quarter. However, its second-quarter guidance disappointed investors, sending its shares down more than three percent in the pre-market trading session on Friday, April 29, 2022.

The California-based chip giant expects adjusted earnings of about 70 cents per share and revenue of approx. $18 billion for the current quarter. However, the guidance is below the consensus of 83 cents per share for earnings and $18.38 billion for revenue.

For the first quarter, Intel Corporation (NASDAQ:INTC) reported adjusted earnings of 87 cents per share, topping estimates of 81 cents per share. Revenue came in at $18.4 billion, beating expectations of $18.31 billion.

Intel Corporation (NASDAQ:INTC) also released the sales performance of its flagship segments. Revenue from the Client Computing Group, its largest segment, fell 13 percent to $9.3 billion. On the bright side, revenue from the Datacenter and AI Group jumped 22 percent to $6 billion, while revenue from the Network and Edge Group climbed 23 percent to $2.2 billion in the quarter.

4. Comcast Corporation (NASDAQ:CMCSA)

Number of Hedge Fund Holders: 80

Shares of Comcast Corporation (NASDAQ:CMCSA) recently hit a new 52-week low of $40.76 despite beating profit and sales expectations for the first quarter. The media and technology company earned 86 cents per share on an adjusted basis, up from 76 cents per share in the same period last year.

Revenue for the quarter rose 14 percent on a year-over-year basis to $31 billion. Analysts were expecting Comcast Corporation (NASDAQ:CMCSA) to post earnings of 81 cents per share on revenue of $30.5 billion.

Comcast Corporation (NASDAQ:CMCSA) also released its segment-wise sales performance. Its Cable Communications revenue rose 4.7 percent to $16.5 billion, while NBCUniversal revenue climbed 46.6 percent to $10.3 billion in the quarter. On the downside, Sky revenue slipped 4.5 percent to $4.8 billion.

Discussing the results, CEO Brian L. Roberts said:

“2022 is off to a great start. For the first quarter we reported healthy growth in adjusted EBITDA and adjusted EPS, generated significant free cash flow, and increased our return of capital to shareholders.”

3. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 134

Apple Inc. (NASDAQ:AAPL) recently posted its fiscal second-quarter profit and sales above expectations. However, the world’s most valuable company warned that the production challenges could wipe out $4 – $8 billion of its revenue in the current quarter. Apple stock turned red in the pre-market trading session on Friday, April 29, following the warning.

For its fiscal second quarter, Apple Inc. (NASDAQ:AAPL) reported adjusted earnings of $1.52 per share, topping expectations of $1.43 per share. Revenue for the quarter rose 8.59 percent on a year-over-year basis to $97.28 billion, beating estimates of $93.89 billion.

Apple Inc. (NASDAQ:AAPL) also disclosed the sales performance of its flagship products and segments. Its iPhone revenue rose 5.5 percent to $50.57 billion and represented more than half of its total quarterly sales. In comparison, Mac revenue jumped 14.73 percent to $10.44 billion, while iPad revenue slipped 1.92 percent to $7.65 billion in the quarter.

In addition, the company’s Services revenue jumped 17.28 percent to $19.82 billion, while revenue from its Other Products segment, which includes its wearables, home speakers and accessories, rose 12.37 percent to $8.81 billion in the quarter.

Among other updates, Apple Inc. (NASDAQ:AAPL) increased its dividend by 5 percent to 23 cents per share. Moreover, its board authorized a plan for repurchasing an additional $90 billion worth of its common stock.

2. Mastercard Incorporated (NYSE:MA)

Number of Hedge Fund Holders: 144

Shares of Mastercard Incorporated (NYSE:MA) rose to a nearly two-month high on Thursday, April 28, 2022, after delivering solid profit and revenue for the first quarter. The financial services giant reported adjusted earnings of $2.76 per share, well above $1.74 per share in the first quarter of 2021.

In addition, Mastercard Incorporated (NYSE:MA) posted revenue of $5.2 billion, up 24 percent over the same period last year. The results exceeded the consensus of $2.17 per share for earnings and $4.91 billion for revenue.

Looking at the key growth indicators, Mastercard Incorporated (NYSE:MA) reported gross dollar volume growth of 17 percent and cross-border volume growth of 53 percent for the quarter. Among other updates, the company announced that it repurchased 6.8 million shares of its common stock during the quarter.

Speaking on the results, CEO Michael Miebach said in a statement:

“Russia’s invasion of Ukraine marked a somber start to 2022, as war returned to Europe for the first time in decades. Even in the context of this challenging geopolitical environment, we’re off to a strong start in 2022 with robust revenue and earnings growth as cross-border volumes grew 53% versus a year ago on a local currency basis. As of March, cross-border travel is above 2019 levels for the first time since the pandemic began, and ahead of our expectations.”

1. Amazon.com, Inc. (NASDAQ:AMZN)

Number of Hedge Fund Holders: 279

Amazon.com, Inc. (NASDAQ:AMZN) appears to be in serious trouble after swinging to a loss in the first quarter and offering weak sales outlook for the current quarter. The e-commerce giant was primarily hit by higher costs and logistic constraints in the quarter.

Shares of Amazon.com, Inc. (NASDAQ:AMZN) plummeted to a nearly two-year low in the pre-market trading session on Friday, April 29, 2022, following the results.

Amazon.com, Inc. (NASDAQ:AMZN) reported a loss of $7.56 per share, compared to earnings of $15.79 per share in the first quarter of 2021. On the contrary, analysts were looking for earnings of $8.07 per share.

In addition, Amazon.com, Inc. (NASDAQ:AMZN) posted revenue of $116.44 billion, up 7 percent on a year-over-year basis and marginally above analysts’ average estimate of $116.3 billion.

Looking forward, Amazon.com, Inc. (NASDAQ:AMZN) expects to generate revenue in the range of $116 – $121 billion for the current quarter. However, the outlook missed the consensus of $125.5 billion with a big margin.

Discussing the results, CEO Andy Jassy said in a statement:

“The pandemic and subsequent war in Ukraine have brought unusual growth and challenges. With AWS growing 34% annually over the last two years, and 37% year-over-year in the first quarter, AWS has been integral in helping companies weather the pandemic and move more of their workloads into the cloud. Our Consumer business has grown 23% annually over the past two years, with extraordinary growth in 2020 of 39% year-over-year that necessitated doubling the size of our fulfillment network that we’d built over Amazon’s first 25 years—and doing so in just 24 months.”

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