Snap Inc. SNAP released Q2 earnings results Tuesday afternoon, outperforming on the bottom line by a penny to -$0.09 (down from the -$0.06 in the year-ago quarter) on revenues of $454 million, which bettered the $441.7 million in the Zacks consensus. Average revenue per user beat expectations by a solid dime to $1.91, though Daily Active Users (DAU — a hugely important metric for social media companies) disappointed at 238 million in the quarter where most everybody stayed at home during the coronavirus quarantine.
Further, DAU guidance for Q3 came in at 242-244 million — an improvement over the last quarter, but not one that necessarily merits the 100% run-up over the last three months in SNAP shares, as had been the case. Shares had bottomed out around -12% on today’s news, but have since buoyed back to -5%. For more on SNAP’s earnings, click here.
Texas Instruments TXN, another Zacks Rank #2 (Buy)-rated stock, busted out expectations on both top and bottom lines after Tuesday’s closing bell. Earnings of $1.48 per share flew past the 88 cents in the Zacks consensus, though 33 cents depicts a benefit to earnings not included in the original guidance from the company. Same with quarterly sales: $3.24 billion strode past the $2.96 billion expected. T.I. also raised guidance for Q3 earnings and revenues: $1.14-1.34 per share and $3.26-3.54 billion, respectively. The company is producing microchips at the same rate as at the start of the year. For more on TXN’s earnings, click here.
Finally, one of the reasons we’re seeing such big numbers in the stock market lately can be seen in TD Ameritrade’s AMTD numbers from its fiscal Q3: $1.09 per share swooped beyond the 84 cents per share expected, which even flips to growth year over year from expectations. Revenues of $1.6 billion easily beat the $1.4 billion our analysts had been expecting. Daily Active Revenue Traders rose 62% to 3.4 million in the quarter, illustrating that Robinhood isn’t the only gainer from a prevalence of new stock traders. TD Ameritrade is scheduled to be purchased by Schwab for $26 billion, and the transaction remains on track. For more on AMTD’s earnings, click here.
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” data-reactid=”19″>Following Tuesday’s close which saw the Nasdaq underperform the Dow, S&P 500 and the small-cap Russell 2000, tech names posted noteworthy earnings results for calendar Q2 — also with mixed results. The Dow and the S&P were up 0.6% and 0.2%, respectively, while the Nasdaq dropped 0.8% on the day after hitting a new intra-day high early in the session.Snap Inc. SNAP released Q2 earnings results Tuesday afternoon, outperforming on the bottom line by a penny to -$0.09 (down from the -$0.06 in the year-ago quarter) on revenues of $454 million, which bettered the $441.7 million in the Zacks consensus. Average revenue per user beat expectations by a solid dime to $1.91, though Daily Active Users (DAU — a hugely important metric for social media companies) disappointed at 238 million in the quarter where most everybody stayed at home during the coronavirus quarantine.
Further, DAU guidance for Q3 came in at 242-244 million — an improvement over the last quarter, but not one that necessarily merits the 100% run-up over the last three months in SNAP shares, as had been the case. Shares had bottomed out around -12% on today’s news, but have since buoyed back to -5%. For more on SNAP’s earnings, click here.
Texas Instruments TXN, another Zacks Rank #2 (Buy)-rated stock, busted out expectations on both top and bottom lines after Tuesday’s closing bell. Earnings of $1.48 per share flew past the 88 cents in the Zacks consensus, though 33 cents depicts a benefit to earnings not included in the original guidance from the company. Same with quarterly sales: $3.24 billion strode past the $2.96 billion expected. T.I. also raised guidance for Q3 earnings and revenues: $1.14-1.34 per share and $3.26-3.54 billion, respectively. The company is producing microchips at the same rate as at the start of the year. For more on TXN’s earnings, click here.
Finally, one of the reasons we’re seeing such big numbers in the stock market lately can be seen in TD Ameritrade’s AMTD numbers from its fiscal Q3: $1.09 per share swooped beyond the 84 cents per share expected, which even flips to growth year over year from expectations. Revenues of $1.6 billion easily beat the $1.4 billion our analysts had been expecting. Daily Active Revenue Traders rose 62% to 3.4 million in the quarter, illustrating that Robinhood isn’t the only gainer from a prevalence of new stock traders. TD Ameritrade is scheduled to be purchased by Schwab for $26 billion, and the transaction remains on track. For more on AMTD’s earnings, click here.
Questions or comments about this article and/or its author? Click here>>
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Is the Market Rigged?” data-reactid=”20″>Is the Market Rigged?
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Computer-driven High-Frequency Traders (HFTs) manipulate the market thousands of times a day – and their gains come at the expense of human investors. Zacks has mounted a Counterstrike to take advantage of the best profit opportunities created by HFTs. Access to these recommendations must be limited; the doors close soon. ” data-reactid=”21″>Computer-driven High-Frequency Traders (HFTs) manipulate the market thousands of times a day – and their gains come at the expense of human investors. Zacks has mounted a Counterstrike to take advantage of the best profit opportunities created by HFTs. Access to these recommendations must be limited; the doors close soon.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="See Counterstrike Trades Now >>” data-reactid=”22″>See Counterstrike Trades Now >>
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Snap Inc. (SNAP) : Free Stock Analysis Report
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Texas Instruments Incorporated (TXN) : Free Stock Analysis Report
TD Ameritrade Holding Corporation (AMTD) : Free Stock Analysis Report
Snap Inc. (SNAP) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
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