5 Notable Quarterly Reports to Watch

In this article, we discuss the 5 notable quarterly reports to watch. If you want to read our detailed analysis of these companies, go directly to the 10 Notable Quarterly Reports to Watch.

5. Bilibili Inc. (NASDAQ:BILI)

Number of Hedge Fund Holders: 47

Shares of Bilibili Inc. (NASDAQ:BILI) fell nearly nine percent on Wednesday, 17 November 2021, after announcing its financial results for the third quarter. The online entertainment platform reported an adjusted loss of 65 cents per share, wider than the adjusted loss of 41 cents per share in the year-ago quarter.

Analysts were expecting Bilibili Inc. (NASDAQ:BILI) to post a loss of 68 cents per share. In addition, revenue for the quarter jumped 61 percent versus last year to $808.0 million but missed the consensus forecast of $811.5 million.

If we look at the performance of key segments, revenue from mobile games increased 9 percent on a year-over-year basis to $216 million, while revenue from value-added services climbed 95 percent to $296.3 million in the quarter. In comparison, advertising revenue in the quarter skyrocketed 110 percent versus last year to $181.9 million.

Speaking on the results, CEO Rui Chen said:

“During our peak summer season, user growth surged, engagement levels reached an all-time high, and we continued to expand our topline. In the third quarter, MAUs and DAUs each grew 35% year-over-year, advancing us toward our 3-year growth goal. Importantly, our community is stickier and more engaged than ever. Users spent an average of 88 minutes per day on Bilibili, the longest time we have seen in our operating history.”

4. The TJX Companies, Inc. (NYSE:TJX)

Number of Hedge Fund Holders: 56

Shares of The TJX Companies, Inc. (NYSE:TJX) hit a nearly three-month high on Wednesday, 17 November 2021, after announcing better-than-expected profit and sales for the third quarter. The Massachusetts-based off-price retailer reported earnings of 84 cents per share, up from 71 cents per share in the comparable period of 2020.

In addition, The TJX Companies, Inc. (NYSE:TJX) posted revenue of $12.53 billion, compared to $10.12 billion in the year-ago quarter. The results easily exceeded the consensus forecast of 81 cents per share for earnings and $12.27 billion for revenue. The company also reported that it opened 19 new stores during the quarter, bringing the total count to 4,684.

Discussing the results, CEO Ernie Herrman said:

“I am extremely pleased with the continued strength of our business, with our overall open-only comp store sales up a very strong 14% over Fiscal 2020, and earnings per share of $.84, well above our plan. We saw robust trends throughout the quarter, with comp sales exiting the quarter as strong as the beginning of the quarter.”

3. Lowe’s Companies, Inc. (NYSE:LOW)

Number of Hedge Fund Holders: 63

Shares of Lowe’s Companies, Inc. (NYSE:LOW) made a new 52-week high of $255.22 on Wednesday, 17 November 2021, following its solid profit and sales for the third quarter. The Mooresville-based retailer reported adjusted earnings of $2.73 per share, crushing the consensus forecast of $2.35 per share.

Revenue increased to $22.92 billion, ahead of analysts’ average estimate of $22.08 billion. Lowe’s Companies, Inc. (NYSE:LOW) had posted earnings of 91 cents per share on revenue of $22.3 billion for the comparable period of 2020.

The company also updated its sales outlook for the full year. Lowe’s Companies, Inc. (NYSE:LOW) now expects revenue of approx. $95 billion versus its previous forecast of approx. $92 billion. The revised outlook represents a year-over-year gain of 33 percent.

Commenting on the results, CEO Marvin Ellison said:

“Our momentum continued this quarter, with U.S. sales comps up nearly 34% on a two-year basis, as our Total Home strategy is resonating with the Pro and DIY customer alike.  In the quarter, we drove over 16% growth in Pro and 25% on Lowes.com.”

2. Target Corporation (NYSE:TGT)

Number of Hedge Fund Holders: 66

Shares of Target Corporation (NYSE:TGT) slipped nearly five percent on Wednesday, 17 November 2021, despite beating profit and sales expectations for the third quarter. The Minneapolis-based retail giant earned $3.03 per share on an adjusted basis, compared to $2.79 per share in the same period of 2020.

Revenue came in at $25.65 billion versus $22.63 billion in the year-ago quarter. Analysts were expecting Target Corporation (NYSE:TGT) to post earnings of $2.82 per share on revenue of $24.61 billion.

Comparable sales in the quarter increased 12.7 percent, with comparable-store sales growing 9.7 percent and comparable digital sales growing 29 percent on a year-over-year basis.

Looking forward, Target Corporation (NYSE:TGT) now expects its comparable sales to grow in the range of high-single-digit to low-double digits. Previously, it was expecting comparable sales growth of high-single digit.

Speaking on the results, CEO Brian Cornell said:

“The consistently strong growth we’re seeing in our business, quarter after quarter, is a testament to the passion and commitment our team brings to serving our guests, and the trust we’ve built with them as a result.”

1. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 86

Shares of NVIDIA Corporation (NASDAQ:NVDA) rose more than five percent in the after-hours trading session on Wednesday, 17 November 2021, after delivering impressive financial results for the third quarter.

The California-based tech giant reported adjusted earnings of $1.17 per share, ahead of the consensus forecast of $1.11 per share. This compares to the adjusted earnings of 73 cents per share NVIDIA Corporation (NASDAQ:NVDA) had posted for the comparable period of 2020.

Revenue for the quarter climbed 50 percent on a year-over-year basis to $7.1 billion, easily beating analysts’ average estimate of $6.82 billion. Looking at the sales performance of its flagship segments, gaming revenue jumped 42 percent versus last year to $3.22 billion. In comparison, data center revenue soared 55 percent to $2.94 billion in the quarter.

Looking forward, NVIDIA Corporation (NASDAQ:NVDA) expects revenue in the range of $7.25 – $7.55 billion for the fourth quarter, higher than the consensus forecast of $6.89 billion.

CEO Jensen Huang expressed his satisfaction with the results, saying:

“The third quarter was outstanding, with record revenue. Demand for NVIDIA AI is surging, driven by hyperscale and cloud scale-out, and broadening adoption by more than 25,000 companies. NVIDIA RTX has reinvented computer graphics with ray tracing and AI, and is the ideal upgrade for the large, growing market of gamers and creators, as well as designers and professionals building home workstations.”

You can also take a peek at George Soros Stock Portfolio: Top 10 Stock Picks and Top 10 Stock Picks of Brandon Osten’s Venator Capital Management.

Follow Insider Monkey on Twitter