In this article, we discuss the 5 latest earnings you should check out. If you want to see some more companies that recently posted their financial results, go directly to 10 Latest Earnings You Should Check Out.
5. Devon Energy Corporation (NYSE:DVN)
Number of Hedge Fund Holders: 57
Devon Energy Corporation (NYSE:DVN) posted better-than-expected financial results for the third quarter. Yet, its shares fell over eight percent this morning following the results.
Some attributed the drop to a dividend cut. Devon Energy Corporation (NYSE:DVN) announced a dividend of $1.35 per share for the third quarter, down from $1.55 per share for the prior quarter.
Coming back to Q3 results, Devon Energy Corporation (NYSE:DVN) reported core earnings of $2.18 per share, beating estimates of $2.13. Moreover, the quarterly revenue of $5.43 billion also surpassed the consensus of $4.89 billion.
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Follow Devon Energy Corp (NYSE:DVN)
4. Caesars Entertainment, Inc. (NASDAQ:CZR)
Number of Hedge Fund Holders: 59
Shares of Caesars Entertainment, Inc. (NASDAQ:CZR) edged higher on Wednesday after swinging to a profit in the third quarter. The casino-entertainment company reported earnings of 24 cents per share versus a loss of $1.08 per share in the year-ago period.
In addition, Caesars Entertainment, Inc. (NASDAQ:CZR) posted revenue of $2.89 billion, up from $2.69 billion in the same period of 2021. The results were above analysts’ average estimate of 14 cents per share for earnings and $2.82 billion for revenue.
Discussing the performance, CEO Tom Reeg said:
“Our third quarter results reflect a new quarterly record for consolidated adjusted EBITDA. Results in the quarter also reflect a new quarterly record for our brick and mortar properties led by a new all-time high third quarter EBITDA performance in our regional segment and continued strength in Las Vegas. Caesars Digital reported strong revenue growth in the quarter and a smaller than expected EBITDA loss driven by improved operating efficiencies.”
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Follow Caesars Entertainment Inc. (NASDAQ:CZR)
3. Apollo Global Management, Inc. (NYSE:APO)
Number of Hedge Fund Holders: 61
Apollo Global Management, Inc. (NYSE:APO) caught investors’ attention today after beating profit expectations for the third quarter. The leading asset manager reported adjusted earnings of $1.33 per share, topping the consensus of $1.29 per share.
Total revenue for the quarter skyrocketed 175.9 percent versus last year to $2.98 billion. In addition, Apollo Global Management, Inc. (NYSE:APO) said total assets under management rose 9 percent on a year-over-year basis to $523 billion in the quarter.
Shares of Apollo Global Management, Inc. (NYSE:APO) jumped to a nearly two-month high this morning following the latest earnings report.
Discussing the results, CEO of Marc Rowan said in a statement:
“Our strong third-quarter results affirm the stability and resilience of Apollo’s differentiated business model, generating record quarterly fee-related earnings and rising spread-related earnings. Our disciplined investment philosophy and compelling product offerings continue to resonate with clients, with year-to-date inflows of $100 billion meaningfully surpassing our initial full-year target.”
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Follow Apollo Global Management Inc.
2. CVS Health Corporation (NYSE:CVS)
Number of Hedge Fund Holders: 65
Shares of CVS Health Corporation (NYSE:CVS) turned green before the opening bell on Wednesday after the healthcare giant delivered better-than-expected results for Q3 and lifted its profit outlook for the full year.
CVS Health Corporation (NYSE:CVS) reported adjusted earnings of $2.09 per share, ahead of the consensus of $1.99 per share. Revenue for the quarter advanced 10 percent on a year-over-year basis to $81.2 billion, crushing the expectations of $76.75 billion.
For fiscal 2022, CVS Health Corporation (NYSE:CVS) now expects to achieve adjusted earnings in the range of $8.55 and $8.65 per share, compared to its earlier guidance between $8.40 – $8.60 per share.
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Follow Cvs Health Corp (NYSE:CVS)
1. Advanced Micro Devices, Inc. (NASDAQ:AMD)
Number of Hedge Fund Holders: 87
Advanced Micro Devices, Inc. (NASDAQ:AMD) came into the limelight this morning after delivering mixed financial performance for third quarter. The semiconductor company earned 67 cents per share on an adjusted basis, down from 73 cents per share in the year-ago period.
Revenue for the quarter jumped 29 percent on a year-over-year basis to $5.6 billion, primarily driven by strength across its data center and gaming units. Analysts expected Advanced Micro Devices, Inc. (NASDAQ:AMD) to earn 69 cents per share on revenue of $5.65 billion.
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Follow Advanced Micro Devices Inc (NASDAQ:AMD)
For the fourth quarter, Advanced Micro Devices, Inc. (NASDAQ:AMD) projected revenue of around $5.5 billion, below analysts’ average estimate of $5.95 billion.
Speaking on the results, CEO Dr Lisa Su said in a statement:
“Third quarter results came in below our expectations due to the softening PC market and substantial inventory reduction actions across the PC supply chain. Despite the challenging macro environment, we grew revenue 29% year-over-year driven by increased sales of our data center, embedded and game console products.”
You can also take a peek at 12 Best EV Stocks To Invest In and 12 Best Consumer Staple Stocks.
