| 
March 06, 2023
Broadcom, Shinhan Financial Group Co., Ltd., Costco and other stocks published their quarterly earnings, check out this rundown of reports and how they turned out.
Markets are currently flat. Nasdaq drawing back 0.17% to 11,669. S&P 500 trades sideways at 4,045.21.
Coupa Software Incorporated and Korea Electric Power Corporation due to release their earnings reports within the following 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.
Though markets were flat, stocks have released their quarterly earnings reports. Take 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 6.59%.
As we reach the end of the session, the semiconductors design company trades at $632.66 with no clear-cut direction and ranging between $631.78 and $644.05.
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 4.13%.
As the session draws to a close, the investment banking and insurance firm is recovering but is not all the way back to $28.76 after dipping down to $28.45 today.
Approximately a month ago, the Korean fintech company reached a significant high of $36.62 but has struggled to hold onto its gains and declined 21.46% since then. So far this year, it has been under-performing the Nasdaq by 6.48%. Shinhan Financial has a market cap of $14.51 billion with an average daily trading volume of 131,602 shares.
Costco: mixed results
Costco reported earnings results Thursday, with EPS at 3.3 and revenues at $54.44 billion; these results are mixed when compared to a consensus of 3.2 Earnings Per Share and $55.44 billion revenue. Since the release of its earnings report, Costco gained 0.83%.
The wholesale company gains $7.39 (1.55%) and hovers around the $482.65 level as it reaches the end of the trading session. The trading volume is at 2.34 million, 126% above the 21-day average of 1.85 million.
Elastic: EPS of -0.39, Revenue of $274.57 million
Elastic trades at $62.31 after the company released its quarterly results.
Drifting lower, the US-Dutch search company is nearing the end of the session at $62.31 after ranging between $61.75 and $66.5 today.
Elastic hit a significant low of $47.94 around a month ago, but has since recovered 33.35%. So far this year, it has been outperforming the Nasdaq by 16.31%. Elastic's market cap currently stands at $5.96 billion with an average daily volume of 1.13 million shares.
ChargePoint Holdings: mixed results
ChargePoint Holdings reported ambiguous earnings results Thursday, with EPS at -0.19 and revenues at $152.83 million. Since the release of its earnings report, ChargePoint Holdings lost 4.38%.
As the session draws to a close, the EV infrastructure company is recovering but is not all the way back to $11.08 after dipping down to $10.59 today.
