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June 03, 2023
MongoDB, Inc., Elastic N.V., Broadcom are the ones to read about today.
Leading equity indices in the US rose as Dow Jones closed the day at 33,763, having gained 2.12%. S&P 500 gained 1.45% and closed at 4,282.37.
Aurora Cannabis Inc. & Signature Bank have released their earnings reports; NIO Inc. & The Toro Company will publish their respective reports in due course.
What is an earnings report?
An earnings report is an official statement of a company's profitability over a certain period of time. Usually, these reports are released four times a year (quarterly reports) and have a significant impact on the market. These announcements are typically taken into consideration when making predictions.
Markets were up and stocks have released their quarterly earnings reports. Have a look.
MongoDB: mixed results
MongoDB, Inc. reported earnings results Thursday, with EPS at -1.15 and revenues at $368.28 million; these results are mixed when compared to a consensus of 0.19 Earnings Per Share and $347.15 million revenue. Since the release of its earnings report, MongoDB, Inc. gained 28.08%.
After ending Thursday's session at $293.96, MongoDB went up to $397.98 yesterday only to fall back and close at $376.3. Daily trading volume (9 million shares) was above the current multiday average of 2.29 million.
Elastic: mixed results
Elastic reported inconclusive earnings results Thursday, with EPS at -0.64 and revenues at $279.94 million. Since the release of its earnings report, Elastic lost 0.73%.
The US-Dutch search company gained 0.88% and stayed at $72.29 levels. Daily trading volume (3.73 million shares) was higher than the current multiday average of 1.26 million.
Broadcom: mixed results
Broadcom reported earnings results Thursday, with EPS at 8.39 and revenues at $8.73 billion; these results are mixed when compared to a consensus of 10.08 Earnings Per Share and $8.71 billion revenue. Since the release of its earnings report, Broadcom gained 0.5%.
After ending Thursday at $789.95, Broadcom spiked to $823.77 yesterday, dropped back to starting point range, and rallied again to $812.
Having soared to a high of $812.73 approximately 8 days ago, the semiconductors company is now trading 2.8% lower. So far this year, it has been beating the Nasdaq by 26.87%. The semiconductors design company's market cap currently stands at $338.54 billion with an average daily trading volume of 3.72 million shares.
