Broadcom, Shinhan Financial Group Co., Ltd., Costco and other stocks have published their quarterly earnings.

Markets closed higher yesterday; S&P 500 closed the day at 4,045.64, having gained 1.61%. Nasdaq gained 1.97% and closed at 11,700.

3Rd quarter earnings season is mostly over, with Marvell Technology Group Ltd & Best Buy Co Inc releasing their earnings reports just this week.

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.

Broadcom | Retains upward momentum since earnings report Thursday

Broadcom released its quarterly earnings report Thursday, beating analysts estimates. The company reported earnings of 9.83 per share on revenue of $8.91 billion, topping estimates of 9.38 per share on revenue of $8.90 billion. Since the release of its earnings report, Broadcom gained 6.6%.

Broadcom ended Thursday's session at $598.65. yesterday started with an increase to $635.73, but dropped back and closed at $632.76. Daily trading volume (4.45 million shares) was higher than the current multiday average of 2 million.

Shinhan Financial | Retains downward momentum since earnings report Thursday

The company reported earnings of 0.68 per share and revenue at $4.92 trillion. Since the release of its earnings report Thursday, Shinhan Financial lost 3.3%.

Pronounced bullish sentiment in the market helped the investment banking and insurance firm to make a notable 1.23% gain yesterday, rising 35 cents and ultimately closing at $28.76. The day's trading volume totalled 94,695 shares — slightly under the 21-day average of 131,602.

Costco: mixed results

Costco reported ambiguous earnings results Thursday, with revenue at $54.44 billion, compared to a consensus of $55.44 billion. Since the release of its earnings report, Costco lost 0.71%.

After ending Thursday at $485.69, Costco declined to $465.36 yesterday before closing at $475.26, thereby losing 2.15% in total.

The wholesale giant reached a significant high of $608.05 around 10 months ago but has lost 20.12% since then. So far this year, it has been under-performing the Nasdaq by 6.62%. The company's market cap currently stands at $210.89 billion with an average daily trading volume of 1.85 million shares.

Elastic: EPS of -0.39, Revenue of $274.57 million

Elastic trades at $63.93 after the company released its quarterly results.

Pronounced bullish sentiment in the market helped the self-managed SaaS provider to make a notable 9.45% gain yesterday, rising $5.52 and ultimately closing at $63.93. Daily trading volume (3.71 million shares) was above the current multiday average of 1.13 million.