NetApp Inc. Q3 Profit Decreases, but beats estimates
NetApp Inc. (NTAP) released earnings for third quarter that decreased from last year but beat the Street estimates.
The company’s earnings totaled $65 million, or $0.30 per share. This compares with $252 million, or $1.10 per share, in last year’s third quarter.
Excluding items, NetApp Inc. reported adjusted earnings of $301 million or $1.37 per share for the period.
Analysts on average had expected the company to earn $1.31 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter fell 5.0% to $1.53 billion from $1.61 billion last year.
NetApp Inc. earnings at a glance (GAAP) :
-Earnings (Q3): $65 Mln. vs. $252 Mln. last year.
-EPS (Q3): $0.30 vs. $1.10 last year.
-Analyst Estimates: $1.31
-Revenue (Q3): $1.53 Bln vs. $1.61 Bln last year.
-Guidance:
Next quarter EPS guidance: $1.30 – $1.40
Next quarter revenue guidance: $1.475 – $1.625 Bln
Full year EPS guidance: $5.30 – $5.50
NuVasive, Inc. Q4 Earnings Summary
Below are the earnings highlights for NuVasive, Inc. (NUVA):
Earnings: $24.08 million in Q4 vs. -$36.74 million in the same period last year.
EPS: $0.42 in Q4 vs. -$0.71 in the same period last year.
Excluding items, NuVasive, Inc. reported adjusted earnings of $22.62 million or $0.43 per share for the period.
Analysts projected $0.51 per share
Revenue: $305.45 million in Q4 vs. $302.08 million in the same period last year.
Oil Prices Move Sharply Lower, Extending Losing Streak
Crude oil prices moved sharply lower during trading on Wednesday, extending their losing streak to six consecutive sessions.
In its first day as the front month contract, crude for April delivery plunged $2.41 or 3.1 percent to $73.95 a barrel after slipping $0.19 or 0.3 percent to $76.29 a barrel on Tuesday.
Concerns about the outlook for global demand continued to weigh on oil prices amid worries about the impact of additional interest rate increases.
While the global economy has held up relatively well in light of recent rate hikes, traders remain concerned about an eventual recession that will sap demand for oil.
Late in the trading day, the minutes of the latest Federal Reserve meeting revealed a “few participants” favored raising rates by 50 basis points compared to the 25 basis point rate hike that was ultimately announced.
The minutes also noted all participants continued to anticipate that ongoing rate increases would be appropriate to achieve the Fed’s dual goals of maximum employment and inflation at the rate of 2 percent over the longer run.
Looking ahead, trading on Thursday may be impacted by reaction to the Energy Information Administration’s report on oil inventories in the week ended February 17th.
Crude oil inventories are expected to increase by 1.2 million barrels after surging by 16.3 million barrels in the previous week.
eBay Inc. Q4 Earnings Summary
Below are the earnings highlights for eBay Inc. (EBAY):
Earnings: $671 million in Q4 vs. -$893 million in the same period last year.
EPS: $1.23 in Q4 vs. -$1.47 in the same period last year.
Excluding items, eBay Inc. reported adjusted earnings of $581 million or $1.07 per share for the period.
Analysts projected $1.06 per share
Revenue: $2.51 billion in Q4 vs. $2.61 billion in the same period last year.
-Guidance:
Next quarter EPS guidance: $1.05 – $1.09
Next quarter revenue guidance: $2.46 – $2.50 Bln
Photos: Snow falls and temperature drops in the Denver area
Snowfall totals are expected to be between two and four inches with wind chill advisories issued in Denver on Wednesday, February 22, 2023. The storm caused delays and canceled flights at Denver International Airport.
APA Corporation Q4 Profit Increases, beats estimates
APA Corporation (APA) announced a profit for its fourth quarter that increased from last year and beat the Street estimates.
The company’s bottom line came in at $443 million, or $1.38 per share. This compares with $382 million, or $1.05 per share, in last year’s fourth quarter.
Excluding items, APA Corporation reported adjusted earnings of $476 million or $1.48 per share for the period.
Analysts on average had expected the company to earn $1.29 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter fell 0.8% to $2.38 billion from $2.40 billion last year.
APA Corporation earnings at a glance (GAAP) :
-Earnings (Q4): $443 Mln. vs. $382 Mln. last year.
-EPS (Q4): $1.38 vs. $1.05 last year.
-Analyst Estimate: $1.29
-Revenue (Q4): $2.38 Bln vs. $2.40 Bln last year.
Unisys Corp. Q4 Earnings Summary
Below are the earnings highlights for Unisys Corp. (UIS):
Earnings: $8.5 million in Q4 vs. -$131.2 million in the same period last year.
EPS: $0.12 in Q4 vs. -$1.95 in the same period last year.
Excluding items, Unisys Corp. reported adjusted earnings of $82.8 million or $1.22 per share for the period.
Analysts projected $0.70 per share
Revenue: $557.0 million in Q4 vs. $539.3 million in the same period last year.
NVIDIA Corporation Q4 Profit Decreases, but beats estimates
NVIDIA Corporation (NVDA) announced a profit for fourth quarter that decreased from the same period last year but beat the Street estimates.
The company’s earnings totaled $1.41 billion, or $0.57 per share. This compares with $3.00 billion, or $1.18 per share, in last year’s fourth quarter.
Excluding items, NVIDIA Corporation reported adjusted earnings of $2.17 billion or $0.88 per share for the period.
Analysts on average had expected the company to earn $0.81 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter fell 20.8% to $6.05 billion from $7.64 billion last year.
NVIDIA Corporation earnings at a glance (GAAP) :
-Earnings (Q4): $1.41 Bln. vs. $3.00 Bln. last year.
-EPS (Q4): $0.57 vs. $1.18 last year.
-Analyst Estimates: $0.81
-Revenue (Q4): $6.05 Bln vs. $7.64 Bln last year.