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May 24, 2023
Williams-Sonoma, Inc., Palo Alto Networks, Inc., New Relic, Inc. are the ones to read about today.
The leading indices are slipping — S&P 500 drawing back 0.82% to 4,111.57. Dow Jones slipping 0.68% and closing at 32,829.
Kohl's Corporation & Splunk Inc have released their earnings reports; Advance Auto Parts Inc and Pure Storage, Inc. 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 down, stocks have released their quarterly earnings reports. Have a look at this rundown.
Williams-Sonoma gains 1.29% ahead of the quarterly earnings report set for today
Williams-Sonoma, Inc. is scheduled to announce earnings results today. The consensus Earnings Per Share estimate is 2.36 and the consensus revenue estimate is $1.80 billion.
After ending yesterday at $111.85, the consumer retail company recovers back to $113.29 after dipping down to $110.13 earlier today.
Palo Alto Networks: mixed results
Palo Alto Networks reported earnings results yesterday, with EPS at -0.2 and revenues at $1.72 billion; these results are mixed when compared to a consensus of 0.93 Earnings Per Share and $1.71 billion revenue. Since the release of its earnings report, Palo Alto Networks gained 6.34%.
After closing yesterday at $189.74, the Californian cybersecurity firm went up to $207.38 only to drop back some of the way, and is now trading at $204.28.
Having soared to a high of $575.58 approximately 8 months ago, the cybersecurity company is now trading 67.03% lower. So far this year, it has been beating the Nasdaq by 19.75%. The company is currently trading with a market cap of $61.82 billion with an average daily trading volume of 4.25 million shares.
New Relic: mixed results
The company reported earnings results yesterday; with EPS at -0.84 and revenues at $242.49 million, these results are mixed compared to a consensus of 0.22 Earnings Per Share and $241.1 million revenue. Since the release of its earnings report, New Relic lost 6.36%.
New Relic is down to $78.17, after ending yesterday at $82.51. Overall, a 5.26% loss or $4.34 today.
Zoom: mixed results
Zoom reported inconclusive earnings results Monday, with EPS at 0.47 and revenues at $1.11 billion. Since the release of its earnings report, Zoom lost 7.65%.
Zoom is down to $64.06, after ending yesterday at $65.65. Overall, a 2.41% loss or $1.59 today.
