In this article, we discuss the 5 latest earnings to watch. If you want to see some other much-awaited earnings reports, go directly to 10 Latest Earnings to Watch.
5. Boston Scientific Corporation (NYSE:BSX)
Number of Hedge Fund Holders: 56
Boston Scientific Corporation (NYSE:BSX) delivered mixed financial results for the third quarter and lowered its profit outlook for the full year. The medical technology company reported adjusted earnings of 43 cents per share, marginally above 41 cents per share in the same period of 2021.
Revenue came in at $3.17 billion, representing a surge of 8.1 percent over the year-ago period. Analysts expected Boston Scientific Corporation (NYSE:BSX) to earn 44 cents per share on revenue of $3.15 billion.
For the full year, Boston Scientific Corporation (NYSE:BSX) lowered its adjusted earnings outlook to a range of $1.71 – $1.74 per share, from its previous guidance between $1.74 – $1.77 per share. The updated outlook is below the consensus of $1.76 per share.
4. Thermo Fisher Scientific Inc. (NYSE:TMO)
Number of Hedge Fund Holders: 93
Thermo Fisher Scientific Inc. (NYSE:TMO) came into the limelight on Wednesday morning after releasing its financial results for the third quarter. The lab equipment and services provider earned $5.08 per share on an adjusted basis, down from $5.77 per share in the year-ago period.
In addition, Thermo Fisher Scientific Inc. (NYSE:TMO) posted revenue of $10.68 billion, up 14 percent on a year-over-year basis. The results easily surpassed analysts’ average estimate of $4.82 per share for earnings and $9.92 billion for revenue.
Separately, investment management firm Baron Funds briefly discussed Thermo Fisher Scientific Inc. (NYSE:TMO) in its third-quarter 2022 investor letter, stating:
“Thermo Fisher Scientific Inc. (NYSE:TMO) is the world’s largest life sciences tools company. Shares fell due to the rotation out of life sciences tools stocks, driven by concerns about a possible global recession, foreign currency exposure, COVID-related lockdowns in China, and reduced levels of biotechnology funding. We continue to believe Thermo Fisher has a strong long-term growth outlook given a large and growing addressable market coupled with its industry-leading scale, commercial infrastructure, e-commerce platform, supply-chain capabilities, and R&D investment.”
3. Alphabet Inc. (NASDAQ:GOOG)
Number of Hedge Fund Holders: 153
Shares of Alphabet Inc. (NASDAQ:GOOG) turned red on Wednesday morning after the search engine giant posted weak financial results for the third quarter. The company primarily took a hit from decelerating ad sales.
Alphabet Inc. (NASDAQ:GOOG) reported earnings of $1.06 per share, down from $1.40 per share in the year-ago period and below the consensus of $1.27 per share. The quarterly revenue of $69.09 billion also missed the expectations of $71 billion.
In addition, Alphabet Inc. (NASDAQ:GOOG) released its segment-wise sales results. Google advertising revenue inched up just 2.5 percent versus last year to $54.48 billion, missing the consensus of $56.9 billion with a big margin. YouTube ad revenue came in at $7.07 billion, against the expectations of $7.5 billion. On the bright side, Google Cloud Platform revenue increased to $6.87 billion, beating estimates of about $6.7 billion.
2. Visa Inc. (NYSE:V)
Number of Hedge Fund Holders: 166
Shares of Visa Inc. (NYSE:V) rose nearly six percent in mid-day trading Wednesday after delivering strong financial results for its fiscal fourth quarter. The payments technology company attributed the results to cross-border travel recovery and strength in consumer spending.
Visa Inc. (NYSE:V) reported adjusted earnings of $1.93 per share, compared to $1.62 per share in the corresponding period of 2021. Revenue also jumped 19 percent versus last year to $7.79 billion. Analysts were looking for earnings of $1.87 per share on revenue of $7.57 billion.
Among other updates, Visa Inc. (NYSE:V) reported that total processed transactions increased 12 percent on a year-over-year basis to 50.9 billion in the quarter.
Speaking on the results, CEO Alfred F. Kelly, Jr. said:
“In Visa’s fiscal fourth quarter, we saw a continuation of many of the spending trends present throughout 2022: strength in consumer payments, resilience in eCommerce and ongoing recovery in cross-border travel.”
1. Microsoft Corporation (NASDAQ:MSFT)
Number of Hedge Fund Holders: 258
Tech giant Microsoft Corporation (NASDAQ:MSFT) managed to meet financial expectations for its fiscal first quarter. However, its sales outlook for the current quarter missed estimates, sending its shares down nearly seven percent in mid-day trading Wednesday.
Microsoft Corporation (NASDAQ:MSFT) earned $2.35 per share during the September quarter, beating the consensus of $2.30 per share. Revenue for the quarter rose 11 percent versus last year to $50.12 billion, against the consensus of $49.61 billion.
Looking forward, Microsoft Corporation (NASDAQ:MSFT) expects revenue in the range of $52.35 – $53.35 billion for its fiscal second quarter, below analysts’ average estimate of $56.05 billion.
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