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June 02, 2023
MongoDB, Inc., Elastic N.V., Broadcom and other stocks have published their quarterly earnings.
The leading indices are showing gains — Dow Jones goes up 1.62%, trading at 33,600. S&P 500 up to 4,276.77, gaining 1.32%.
Signature Bank & Five Below, Inc. have released their earnings reports; NIO Inc. and 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. These reports are typically announced once a quarter, and their timing is considered when making predictions about the market due to the large impact they have on it.
Markets are up and stocks have released their quarterly earnings reports. Have a look.
MongoDB: mixed results
MongoDB, Inc. reported earnings results yesterday, 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 28.25%.
Following yesterday's session which closed at $293.96, MongoDB went up to $397.98 today only to drop back and trade at $376.79.
The past 3 months have been positive for the database developer as it added 40% compared to its 3-month low of $137.35. So far this year, it has performed better than the Nasdaq by 33.39%. Currently, the database developer has a market capitalization of $26.58 billion with an average daily volume of 1.91 million shares.
Elastic: mixed results
Elastic reported earnings results yesterday, with EPS at -0.64 and revenues at $279.94 million; these results are mixed when compared to a consensus of 0.1 Earnings Per Share and $277.36 million revenue. Since the release of its earnings report, Elastic gained 0.38%.
Marginally higher but lacking a clear-cut direction, Elastic is trading at $73.1 after ranging between $69.46 and $74.78 today. The trading volume is at 1.64 million, 146% above the 21-day average of 1.12 million.
Broadcom: mixed results
Broadcom reported earnings results yesterday, 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 0.25%.
After closing yesterday at $789.95, the semiconductors design company went up to $823.77 only to drop back some of the way, and is now trading at $810.
ChargePoint Holdings: mixed results
ChargePoint Holdings reported ambiguous earnings results yesterday, with EPS at -0.26 and revenues at $130 million. Since the release of its earnings report, ChargePoint Holdings lost 2.38%.
Slightly weaker but mostly flat: ChargePoint Holdings is currently trading at $9.44 as it maintains an active range between $9.35 and $10.
