5 Quarterly Reports Everyone is Talking About

In this article, we discuss the 5 companies drawing attention on quarterly reports. If you want to read our detailed analysis of these companies, go directly to the 11 Companies Drawing Attention on Quarterly Reports.

5. Motorola Solutions, Inc. (NYSE:MSI)

Number of Hedge Fund Holders: 36

Shares of Motorola Solutions, Inc. (NYSE:MSI) turned green in the pre-market trading session on Friday, May 13, 2022, after beating financial expectations for the first quarter. The communications and analytics solutions provider earned $1.70 per share on an adjusted basis, topping estimates of $1.61 per share.

Revenue for the quarter rose 7 percent on a year-over-year basis to $1.9 billion, against the consensus of $1.83 billion. Motorola Solutions, Inc. (NYSE:MSI) also released its segment-wise sales results. Revenue from the products and systems integration business increased 9 percent, while software and services revenue increased 4 percent in the quarter.

Looking forward, Motorola Solutions, Inc. (NYSE:MSI) anticipates adjusted earnings in the range of $1.83 – $1.88 per share and revenue growth between 4 – 5 percent for the current quarter.

Discussing the results, CEO Greg Brown said:

“Record first-quarter orders, sales and ending backlog position us well for continued growth in 2022, while we continue to navigate a challenging macroeconomic and supply chain environment.”

4. New Relic, Inc. (NYSE:NEWR)

Number of Hedge Fund Holders: 37

Shares of New Relic, Inc. (NYSE:NEWR) hit a new 52-week low in the pre-market trading session on Friday, May 13, 2022, after posting a wider-than-expected loss for its fiscal fourth quarter.

New Relic, Inc. (NYSE:NEWR) reported an adjusted loss of 24 cents per share, narrower than 27 cents per share in the year-ago period. Revenue increased to $206 million, from $173 million in the comparable quarter of 2021. Analysts were looking for a loss of 21 cents per share on revenue of $204.52 million.

For its fiscal first quarter, New Relic, Inc. (NYSE:NEWR) expects an adjusted loss in the range of 35 – 38 cents per share and revenue between $212 – $214 million. For its FY 2023, the company guided for an adjusted loss of 31 – 37 cents per share and revenue of $920 – $930 million.

3. Marqeta, Inc. (NASDAQ:MQ)

Number of Hedge Fund Holders: 39

Shares of Marqeta, Inc. (NASDAQ:MQ) rallied over 18 percent on Thursday, May 12, 2022, despite its mixed financial performance for the first quarter. The Oakland-based fintech company reported a loss of 11 cents per share, wider than analysts’ average estimate for a loss of 8 cents per share.

On the bright side, revenue for the quarter climbed 54 percent versus last year to $166 million and exceeded the consensus of $161.27 million. In addition, Marqeta, Inc. (NASDAQ:MQ) reported that total processing volume for the quarter jumped 53 percent on a year-over-year basis to $37 billion.

Marqeta, Inc. (NASDAQ:MQ) also released its sales outlook for the current quarter. The company expects its Q2 revenue to grow in the range of 46 – 48 percent over the same period of 2021.

Commenting on the quarter, CEO Jason Gardner said:

“Our results for the first quarter of 2022 put the fundamentals of Marqeta’s modern card issuing platform on strong display, as we powered our customers to new milestones of scale and enabled their global expansion, while launching new products and partners that further enrich the value we provide them.”

2. Rivian Automotive, Inc. (NASDAQ:RIVN)

Number of Hedge Fund Holders: 47

Shares of Rivian Automotive, Inc. (NASDAQ:RIVN) jumped nearly 18 percent on Thursday, May 12, 2022, following its first-quarter results. The Irvine-based electric vehicle maker reported an adjusted loss of $1.43 per share, compared to analysts’ average estimate for a loss of $1.44 per share.

On the downside, the quarterly revenue of $95 million missed the consensus of $130.5 million with a big margin. In addition, Rivian Automotive, Inc. (NASDAQ:RIVN) reported that it produced 2,553 vehicles during the first quarter. Moreover, the company also reaffirmed its target of producing 25,000 vehicles in the current fiscal year.

In a letter to shareholders, Rivian Automotive, Inc. (NASDAQ:RIVN) said:

“We are now ramping production and deliveries of our R1T, R1S, and EDV 700, and while there have been challenges in ramping these vehicles with the current supply chain backdrop, we couldn’t be more energized about the impact we can deliver. With the above launch products in mind, our goal is to build Rivian into one of the most recognizable brands in the world.”

1. The Walt Disney Company (NYSE:DIS)

Number of Hedge Fund Holders: 111

The Walt Disney Company (NYSE:DIS) recently missed profit and sales expectations for its fiscal second quarter. The entertainment giant reported adjusted earnings of $1.08 per share, significantly higher than 79 cents per share in the year-ago period.

In addition, The Walt Disney Company (NYSE:DIS) posted revenue of $19.2 billion, up 23 percent on a year-over-year basis. However, the results fell short of analysts’ average estimate of $1.19 per share for earnings and $20.03 billion for revenue.

The company’s largest segment, Media and Entertainment Distribution, generated revenue of $13.62 billion, compared to $12.44 billion in the same period of 2021. Among other updates, The Walt Disney Company (NYSE:DIS) reported that it added 7.9 million new Disney+ subscribers in the quarter, bringing the total count to 137.7 million.

Speaking on the results, CEO Bob Chapek said in a statement:

“Our strong results in the second quarter, including fantastic performance at our domestic parks and continued growth of our streaming services—with 7.9 million Disney+ subscribers added in the quarter and total subscriptions across all our DTC offerings exceeding 205 million—once again proved that we are in a league of our own.”

You can also take a peek at 10 Cheap Oil Stocks to Buy in 2022 and 10 Favorite Stocks of Dan Loeb’s Third Point.

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