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New Batch of Q3 Earnings: AMZN, GOOGL, INTC & More
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Big afternoon of new quarterly earnings releases after the bell today, with some of the world's largest technology firms hitting the tape. This follows a regular trading day that clawed back somewhat from the abyss yesterday and earlier this week.
Amazon (AMZN - Free Report) posted mixed returns in its Q3 earnings report today, with a colossal beat on the bottom line -- $5.75 per share compared to the Zacks consensus $3.29, and in another galaxy from the year-ago quarter's 52 cents -- on revenues of $56.58 billion, which missed our $57.05 billion estimated. The company's Operating Cash Flow grew 57% year over year.
However, guidance was a little light going into the big holiday season of Q4, which disappointed traders after hours. Net sales expected of $66.5-72.5 billion next quarter is a let-down from the Zacks consensus $73.9 billion. And although shares are still up close to 30% year over year, they're falling 4% at this hour in late trading. For more on AMZN's earnings, click here.
Google parent Alphabet (GOOGL - Free Report) was also mixed in its Q3 results this afternoon, with a big earnings beat of $13.06 per share atop the $10.54 analysts had been expecting, on $27.16 billion in sales (after Traffic Acquisition Costs, or TAC) compared to the $27.32 billion in our consensus. Ad Revenue grew 29% in the quarter, and Paid Clicks were up 62%, but these were offset by worse-than-expected Cost per Click, down 28%. Shares are down 4.4% in the late market, and are now down year to date. For more on GOOGL's earnings, click here.
Chip giant Intel (INTC - Free Report) , however, blew the doors off expectations this afternoon for its Q3 report, putting up $1.40 per share from the $1.15 anticipated for a 21.7% positive surprise, on revenues of $19.2 billion which easily surpassed the $18.11 billion in the Zacks consensus. Guidance for Q4 was also raised to $19 billion on the top line from the $18.37 billion we were expecting, and $1.22 per share on the bottom line from the $1.10 estimate we'd had previously. PCs and Data Center businesses were big for Intel in the quarter. For more on INTC's earnings, click here.
Also, Gilead (GILD - Free Report) , the pharmaceutical firm specializing in HIV and Hep-C vaccines, posted a Q3 beat on both sales and earnings, with raised guidance as well: $1.84 per share versus $1.66 expected on the bottom, $5.6 billion as compared to the $5.48 billion estimate on the top. Hep-C sales climbed to $902 million for the quarter, while its HIV segment came in a little light at $3.7 billion. Gilead now expects between $20.8 - 21.3 billion in sales for Q4, and shares are trading up 1.1% this afternoon, though still down year to date. For more on GILD's earnings, click here.
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New Batch of Q3 Earnings: AMZN, GOOGL, INTC & More
Big afternoon of new quarterly earnings releases after the bell today, with some of the world's largest technology firms hitting the tape. This follows a regular trading day that clawed back somewhat from the abyss yesterday and earlier this week.
Amazon (AMZN - Free Report) posted mixed returns in its Q3 earnings report today, with a colossal beat on the bottom line -- $5.75 per share compared to the Zacks consensus $3.29, and in another galaxy from the year-ago quarter's 52 cents -- on revenues of $56.58 billion, which missed our $57.05 billion estimated. The company's Operating Cash Flow grew 57% year over year.
However, guidance was a little light going into the big holiday season of Q4, which disappointed traders after hours. Net sales expected of $66.5-72.5 billion next quarter is a let-down from the Zacks consensus $73.9 billion. And although shares are still up close to 30% year over year, they're falling 4% at this hour in late trading. For more on AMZN's earnings, click here.
Google parent Alphabet (GOOGL - Free Report) was also mixed in its Q3 results this afternoon, with a big earnings beat of $13.06 per share atop the $10.54 analysts had been expecting, on $27.16 billion in sales (after Traffic Acquisition Costs, or TAC) compared to the $27.32 billion in our consensus. Ad Revenue grew 29% in the quarter, and Paid Clicks were up 62%, but these were offset by worse-than-expected Cost per Click, down 28%. Shares are down 4.4% in the late market, and are now down year to date. For more on GOOGL's earnings, click here.
Chip giant Intel (INTC - Free Report) , however, blew the doors off expectations this afternoon for its Q3 report, putting up $1.40 per share from the $1.15 anticipated for a 21.7% positive surprise, on revenues of $19.2 billion which easily surpassed the $18.11 billion in the Zacks consensus. Guidance for Q4 was also raised to $19 billion on the top line from the $18.37 billion we were expecting, and $1.22 per share on the bottom line from the $1.10 estimate we'd had previously. PCs and Data Center businesses were big for Intel in the quarter. For more on INTC's earnings, click here.
Also, Gilead (GILD - Free Report) , the pharmaceutical firm specializing in HIV and Hep-C vaccines, posted a Q3 beat on both sales and earnings, with raised guidance as well: $1.84 per share versus $1.66 expected on the bottom, $5.6 billion as compared to the $5.48 billion estimate on the top. Hep-C sales climbed to $902 million for the quarter, while its HIV segment came in a little light at $3.7 billion. Gilead now expects between $20.8 - 21.3 billion in sales for Q4, and shares are trading up 1.1% this afternoon, though still down year to date. For more on GILD's earnings, click here.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>