Tesla misses big on first-quarter earnings as demand fell for its electric cars

Tesla reported a wider-than-expected loss and less revenue than anticipated during the first quarter as demand for its electric cars waned after the company lost a valuable tax credit for buyers on Jan. 1. Executives braced investors for another loss in the second quarter before returning to profitability in the second half of the year. Its shares, which closed down by about 2 percent Wednesday, were about flat after the markets closed. The company previously warned that first-quarter income wil


Tesla reported a wider-than-expected loss and less revenue than anticipated during the first quarter as demand for its electric cars waned after the company lost a valuable tax credit for buyers on Jan. 1. Executives braced investors for another loss in the second quarter before returning to profitability in the second half of the year. Its shares, which closed down by about 2 percent Wednesday, were about flat after the markets closed. The company previously warned that first-quarter income wil
Tesla misses big on first-quarter earnings as demand fell for its electric cars Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: lora kolodny, dawn kopecki, mike blake, james glover ii
Keywords: news, cnbc, companies, versus, fell, share, second, million, cars, reported, firstquarter, big, expected, tesla, loss, lost, quarter, electric, earnings, demand, misses


Tesla misses big on first-quarter earnings as demand fell for its electric cars

Tesla reported a wider-than-expected loss and less revenue than anticipated during the first quarter as demand for its electric cars waned after the company lost a valuable tax credit for buyers on Jan. 1.

Executives braced investors for another loss in the second quarter before returning to profitability in the second half of the year.

Here’s what Tesla reported, versus what analysts expected based on average estimates compiles by Refinitiv:

Loss per share on an adjusted basis: $2.90 versus 69 cents expected

Revenue: $4.54 billion versus $5.19 billion expected

On an unadjusted basis, Tesla lost $702.1 million, or $4.10 a share during the quarter ended March 31, compared with a loss of $709.6 million, or $4.19 a share during the same period last year.

Its shares, which closed down by about 2 percent Wednesday, were about flat after the markets closed.

The company previously warned that first-quarter income will “be negatively impacted” because of “lower than expected delivery volumes and several pricing adjustments.” Tesla said earlier this month it delivered 63,000 cars during the quarter, well below analysts’ consensus estimates of 76,000.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: lora kolodny, dawn kopecki, mike blake, james glover ii
Keywords: news, cnbc, companies, versus, fell, share, second, million, cars, reported, firstquarter, big, expected, tesla, loss, lost, quarter, electric, earnings, demand, misses


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Microsoft hits $1 trillion market cap after earnings beat estimates

Here are the key numbers:Earnings: $1.14 per share, excluding certain items, vs. $1.00 as expected by analysts, according to Refinitiv. $1.14 per share, excluding certain items, vs. $1.00 as expected by analysts, according to Refinitiv. Revenue: $30.6 billion vs. $29.84 billion as expected by analysts, according to Refinitiv. Microsoft said on the earnings call that revenue in the fiscal fourth quarter will be $32.2 billion to $32.9 billion. Analysts expected $32.6 billion, according to Refiniti


Here are the key numbers:Earnings: $1.14 per share, excluding certain items, vs. $1.00 as expected by analysts, according to Refinitiv. $1.14 per share, excluding certain items, vs. $1.00 as expected by analysts, according to Refinitiv. Revenue: $30.6 billion vs. $29.84 billion as expected by analysts, according to Refinitiv. Microsoft said on the earnings call that revenue in the fiscal fourth quarter will be $32.2 billion to $32.9 billion. Analysts expected $32.6 billion, according to Refiniti
Microsoft hits $1 trillion market cap after earnings beat estimates Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: ari levy, chesnot, getty images
Keywords: news, cnbc, companies, billion, trillion, market, microsoft, cap, analysts, vs, expected, according, beat, week, cloud, quarter, estimates, earnings, hits, revenue


Microsoft hits $1 trillion market cap after earnings beat estimates

Microsoft reported fiscal third-quarter results on Wednesday, and the stock jumped more than 3% on better-than-expected earnings and revenue.

Here are the key numbers:

Earnings: $1.14 per share, excluding certain items, vs. $1.00 as expected by analysts, according to Refinitiv.

$1.14 per share, excluding certain items, vs. $1.00 as expected by analysts, according to Refinitiv. Revenue: $30.6 billion vs. $29.84 billion as expected by analysts, according to Refinitiv.

Microsoft shares are trading near a record after rallying 34% over the past year. The stock climbed past $130.50 in extended trading, pushing the market cap over $1 trillion.

Sales jumped 14% in the latest quarter, driven by the company’s transition to the public cloud as more large businesses offload their servers and data storage to Azure infrastructure. Gross margin, or the percentage of revenue left after accounting for the costs of goods sold, was 66.7% up from 65.4% a year earlier. Net income rose 19% to $8.8 billion.

Azure’s revenue surged 73%. Microsoft’s commercial cloud business, which includes Azure, grew 41% in the quarter to $9.6 billion. While Azure is still much smaller than rival Amazon Web Service, Stifel analysts say it’s growing faster than AWS was at a similar size.

“We continue to believe the shift to the cloud will be additive to Microsoft given a broader portfolio of products with deeper functionality as well as Microsoft’s ability to enter new categories where it did not compete previously,” wrote Stifel’s Brad Reback, who has a buy rating on the stock.

Microsoft and AWS are in the last stages of competing for a $10 billion Department of Defense contract, known as JEDI, after IBM and Oracle were recently ruled out. Last week, Wedbush analysts said momentum has been moving toward Microsoft CEO Satya Nadella in his effort to catch Amazon’s Jeff Bezos.

“The tide has turned significantly for MSFT on the ‘game changing’ $10 billion JEDI Beltway cloud deal for the Pentagon with our work in the field indicating this bake-off is now a toss-up and even odds between Bezos and Nadella vs. the slam dunk win for AWS that it appeared to be roughly a year ago,” wrote Daniel Ives, an analyst at Wedbush, who recommends buying Microsoft shares. It “could represent a key positive catalyst for MSFT looking ahead when this winner likely gets announced in the summer time-frame,” he wrote.

Microsoft is also benefiting from the move to cloud applications, pushing users of its traditional productivity products like Word and Excel to the cloud-based Office 365 suite. Commercial sales of Office 365 increased 30%. And LinkedIn, the professional networking site that Microsoft acquired for over $26 billion in 2016, continues to grow much faster than the overall business. LinkedIn’s revenue climbed 27% in the quarter.

Microsoft said on the earnings call that revenue in the fiscal fourth quarter will be $32.2 billion to $32.9 billion. Analysts expected $32.6 billion, according to Refinitiv.

The company kicked off tech earnings season, with the mega-cap companies all slated to report in the next week. Facebook’s revenue also topped estimates on Wednesday. Amazon reports on Thursday, followed by Alphabet and Apple early next week. Expectations are high, after the Nasdaq climbed to an intraday record on Wednesday.

WATCH: Microsoft tops revenue estimates in third quarter


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: ari levy, chesnot, getty images
Keywords: news, cnbc, companies, billion, trillion, market, microsoft, cap, analysts, vs, expected, according, beat, week, cloud, quarter, estimates, earnings, hits, revenue


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Dow futures edge lower as investors await Facebook, Microsoft earnings

U.S. stock index futures were slightly lower Wednesday morning, as market participants looked ahead to another deluge of corporate earnings. ET, Dow futures slipped 17 points, indicating a negative open of more than 28 points. Futures on the S&P and Nasdaq were both seen marginally lower. Market focus is largely attuned to earnings season, after better-than-feared figures from major companies in the previous session helped the Nasdaq and S&P 500 indexes reach record closing highs. But stocks qui


U.S. stock index futures were slightly lower Wednesday morning, as market participants looked ahead to another deluge of corporate earnings. ET, Dow futures slipped 17 points, indicating a negative open of more than 28 points. Futures on the S&P and Nasdaq were both seen marginally lower. Market focus is largely attuned to earnings season, after better-than-feared figures from major companies in the previous session helped the Nasdaq and S&P 500 indexes reach record closing highs. But stocks qui
Dow futures edge lower as investors await Facebook, Microsoft earnings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: sam meredith
Keywords: news, cnbc, companies, futures, worst, closing, nasdaq, dow, investors, trade, 500, sp, points, edge, lower, uschina, microsoft, await, earnings, turned, facebook


Dow futures edge lower as investors await Facebook, Microsoft earnings

U.S. stock index futures were slightly lower Wednesday morning, as market participants looked ahead to another deluge of corporate earnings.

At around 02:45 a.m. ET, Dow futures slipped 17 points, indicating a negative open of more than 28 points. Futures on the S&P and Nasdaq were both seen marginally lower.

Market focus is largely attuned to earnings season, after better-than-feared figures from major companies in the previous session helped the Nasdaq and S&P 500 indexes reach record closing highs.

Tuesday’s move toward an all-time closing high comes less than six months after a sharp decline in late December, which led the S&P 500 to its worst annual performance since 2008. But stocks quickly turned around as the Federal Reserve reversed course on monetary policy while the tone around U.S.-China trade talks improved.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: sam meredith
Keywords: news, cnbc, companies, futures, worst, closing, nasdaq, dow, investors, trade, 500, sp, points, edge, lower, uschina, microsoft, await, earnings, turned, facebook


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Stocks making the biggest moves after hours: Facebook, Microsoft, Tesla and more

Microsoft shares jumped more than 3% after hours Wednesday after the company posted better-than-expected third-quarter earnings. Shares of Tesla seesawed after market close Wednesday based on disappointing first-quarter earnings. Chipotle shares were volatile in extended trading Wednesday following the release of the restaurant company’s first-quarter earnings. PayPal shares dropped as much as 2% after hours Wednesday after releasing the online payments company’s first-quarter earnings. Earnings


Microsoft shares jumped more than 3% after hours Wednesday after the company posted better-than-expected third-quarter earnings. Shares of Tesla seesawed after market close Wednesday based on disappointing first-quarter earnings. Chipotle shares were volatile in extended trading Wednesday following the release of the restaurant company’s first-quarter earnings. PayPal shares dropped as much as 2% after hours Wednesday after releasing the online payments company’s first-quarter earnings. Earnings
Stocks making the biggest moves after hours: Facebook, Microsoft, Tesla and more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: maggie fitzgerald, niall carson, pa images, getty images
Keywords: news, cnbc, companies, stocks, hours, share, billion, cents, making, microsoft, analysts, firstquarter, company, revenue, moves, facebook, refinitiv, estimates, earnings, biggest, tesla


Stocks making the biggest moves after hours: Facebook, Microsoft, Tesla and more

Facebook beat on top and bottom—Here’s what three experts are watching now 1 Hour Ago | 02:59

Check out the companies making headlines after the bell:

Shares of Facebook popped more than 7% in extended trading Wednesday following the release of the social media giant’s first-quarter earnings. Facebook reported earnings per share of 85 cents, which was not comparable to analysts’ estimates due to a $3 billion legal expense related to a Federal Trade Commission inquiry into Facebook’s privacy policies.

Revenue came in at $15.08 billion, topping Wall Street’s $14.98 billion forecast, according to Refinitiv. Daily active users increased 8% year over year to total 1.56 billion. Average revenue per user was $6.42, beating estimates of $6.39.

Microsoft shares jumped more than 3% after hours Wednesday after the company posted better-than-expected third-quarter earnings. The second largest company by market valuation, behind Apple, earned $30.57 billion in revenue during the period. That tops estimates of $29.84 billion, according to analysts surveyed by Refinitiv. Earnings per share were $1.14, higher than the $1.00 expected by analysts.

Shares of Tesla seesawed after market close Wednesday based on disappointing first-quarter earnings. Elon Musk’s automaker reported a loss of $2.90 on revenue of $4.54 billion. Analysts expected a loss of 69 cents on revenue of $5.19 billion per Refinitiv.

Chipotle shares were volatile in extended trading Wednesday following the release of the restaurant company’s first-quarter earnings. Chipotle posted revenue of $1.31 billion, beating estimates of $1.26 billion. Earnings per share were $3.40, compared to the $3.01 forecast on the Street.

Chipotle’s same store sales grew 9.9%, topping estimates of 7.3%.

PayPal shares dropped as much as 2% after hours Wednesday after releasing the online payments company’s first-quarter earnings. The Venmo parent company earned $4.13 billion in revenue, in line with estimates. Earnings per share came in at 78 cents, beating expectations by 10 cents, according to analysts surveyed by Refinitiv. PayPal’s total payment volume was $161 billion, while Venmo’s was $21 billion.

The company revealed that Venmo’s payment platform has 40 million users, the first time it has shared this metric.

Shares of Visa dipped 1% after market close Wednesday despite posting better-than-expected earnings. For the first quarter Visa earned $5.49 billion in revenue, slightly higher the expected $5.47 billion. Earnings per share were $1.31, higher than analysts’ estimates of $1.24. Visa’s stock is up more than 22% year to date.

Shares of Xilinx plummeted more than 11% in extended trading Wednesday despite better-than-expected fourth-quarter earnings. The semiconductor company reported earnings in line with estimates at 94 cents per share. Revenue was $828 million, lower than the expected $825 million, according to Refinitiv. Xilinx’s stock is up about 64% year to date.

Xilinx also announced they are acquiring networking technology company Solarflare.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: maggie fitzgerald, niall carson, pa images, getty images
Keywords: news, cnbc, companies, stocks, hours, share, billion, cents, making, microsoft, analysts, firstquarter, company, revenue, moves, facebook, refinitiv, estimates, earnings, biggest, tesla


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Stocks reclaim record highs, but investor enthusiasm is lacking

Stocks have reclaimed their old highs and should continue to make new ones, but without some of the fanfare and excitement of some past rallies. The S&P 500 and Nasdaq both surpassed their September closing highs on Tuesday after a string of solid earnings news. Putting it in that context, I would say I’m not as worried about the market as a lot of people. Redler, who watches the short term technicals, said the S&P first pressed the 2,900 level as earnings season started. Redler said stocks have


Stocks have reclaimed their old highs and should continue to make new ones, but without some of the fanfare and excitement of some past rallies. The S&P 500 and Nasdaq both surpassed their September closing highs on Tuesday after a string of solid earnings news. Putting it in that context, I would say I’m not as worried about the market as a lot of people. Redler, who watches the short term technicals, said the S&P first pressed the 2,900 level as earnings season started. Redler said stocks have
Stocks reclaim record highs, but investor enthusiasm is lacking Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: patti domm
Keywords: news, cnbc, companies, fed, started, redler, highs, ones, worried, reclaim, sp, investor, stocks, lacking, earnings, enthusiasm, market, record, say


Stocks reclaim record highs, but investor enthusiasm is lacking

Stocks have reclaimed their old highs and should continue to make new ones, but without some of the fanfare and excitement of some past rallies.

The S&P 500 and Nasdaq both surpassed their September closing highs on Tuesday after a string of solid earnings news. The Dow is still about a percent away from its high, at 26,656.

“We’ve essentially just gone back to September. People look at this 17% year-to-date move and say it seems like an unsustainable trend. We have to keep in mind we’re now flat to where we were back in September,” said Jack Ablin, CIO of Cresset Wealth Advisors. “This is just taking back the correction. Putting it in that context, I would say I’m not as worried about the market as a lot of people. In the earnings reports, there were some blockbuster surprises.”

T3Live.com’s Scott Redler said investors continue to doubt the market, even as some indexes hit highs.

“The sentiment is typically not bullish,” he said. “Everyone is worried about… trade wars, while passive money comes in and the market marches higher.”

Redler, who watches the short term technicals, said the S&P first pressed the 2,900 level as earnings season started. The so-called FAANG stocks — Facebook, Amazon, Apple, Netflix and Google-parent Alphabet — rallied and that helped lead the market. Now those names and related tech favorites are the ones to watch when Facebook and Microsoft report earnings Wednesday, followed by Amazon on Thursday.

Beyond that, the market will also soon be tested by the Fed, which meets May 1. Redler said stocks have been moving higher since the Fed “pivot,” when officials started to signal that more interest rate hikes were unlikely. Some market pros believe the Fed will even cut interest rates before it ever raises them again.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: patti domm
Keywords: news, cnbc, companies, fed, started, redler, highs, ones, worried, reclaim, sp, investor, stocks, lacking, earnings, enthusiasm, market, record, say


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Venmo has 40 million users, PayPal reveals for first time

Popular payment app Venmo has ushered in 40 million users to the platform, its parent company PayPal announced on Wednesday. In its first-quarter earnings report, PayPal said it now has a total 277 million total customer accounts — including 22 million merchant accounts. Total payment volume for Venmo grew 73% year over year to $21 billion in the first quarter, the company said. PayPal said Venmo is still on pace to do $100 billion in payment volume this year. Venmo was originally bought by Brai


Popular payment app Venmo has ushered in 40 million users to the platform, its parent company PayPal announced on Wednesday. In its first-quarter earnings report, PayPal said it now has a total 277 million total customer accounts — including 22 million merchant accounts. Total payment volume for Venmo grew 73% year over year to $21 billion in the first quarter, the company said. PayPal said Venmo is still on pace to do $100 billion in payment volume this year. Venmo was originally bought by Brai
Venmo has 40 million users, PayPal reveals for first time Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: kate rooney, cnbc, getty images
Keywords: news, cnbc, companies, payment, app, billion, 40, paypal, company, reveals, earnings, venmo, users, way, million, revenue


Venmo has 40 million users, PayPal reveals for first time

Popular payment app Venmo has ushered in 40 million users to the platform, its parent company PayPal announced on Wednesday.

This is the first time PayPal has disclosed user numbers for the millennial-focused, peer-to-peer app.

In its first-quarter earnings report, PayPal said it now has a total 277 million total customer accounts — including 22 million merchant accounts. Total payment volume for Venmo grew 73% year over year to $21 billion in the first quarter, the company said. PayPal said Venmo is still on pace to do $100 billion in payment volume this year.

“Venmo continues its significant momentum,” PayPal CEO Dan Schulman said on a call with analysts. “As user growth continues to accelerate, merchants are increasingly turning to Venmo as a way to attract a valuable and engaged consumer base.”

Rival Square, run by Twitter CEO Jack Dorsey, reported 15 million monthly active users for its Cash App as of December.

Venmo has announced partnerships with Chipotle, GrubHub and Uber, among other merchants. These partnerships are a key way the app brings in revenue. Schulman said Venmo is on pace to do $300 million in revenue this year.

The finance app also operates like a social network. It lets users comment on payments and see what friends are spending on. Venmo was originally bought by BrainTree for $26 million, and BrainTree was later bought by PayPal.

PayPal reported better-than-expected first-quarter earnings after the market close Wednesday. The company reported adjusted earnings of 78 cents per share, compared with the 68 cents forecast by Refinitiv consensus estimates. Revenue for the quarter was in line with Wall Street’s $4.13 billion estimates.

Total payment volume — a closely watched metric for the company — came in at $161 billion, a 25% increase year over year. This was below the $163 billion that analysts polled by FactSet had been expecting. Shares of PayPal fell as much as 2% in after-hours trading before paring losses.

Venmo has yet to become a money-maker for its parent company. PayPal has not given an exact target date for profitability.

“We’re certainly pleased with the monetization of Venmo and the rate at which that is progressing ,” PayPal Chief Operating Officer Bill Ready said on the company’s earnings call.

Ready highlighted instant transfers and Venmo’s debit card as bright spots in revenue growth. He also addressed a recent Wall Street Journal report that the company was looking to launch a Venmo-branded credit card.

“We have certainly seen great demand across our user base for more and more products from Venmo, and we are engaging with the banking system in a very broad way across PayPal and Venmo,” Ready said. “To be very clear, there is nothing beyond Venmo debit card that we are looking at at this time.”


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: kate rooney, cnbc, getty images
Keywords: news, cnbc, companies, payment, app, billion, 40, paypal, company, reveals, earnings, venmo, users, way, million, revenue


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Chipotle earnings top estimates as digital sales double, boosts same-store sales outlook

Chipotle Mexican Grill on Wednesday reported earnings and revenue that beat analysts’ expectations after doubling its digital sales during the quarter. Notably, digital sales rose 100.7% during the quarter, accounting for 15.7% of total sales. Executives would not disclose what percent of digital sales are delivery orders. The loyalty program is just one part of Chipotle’s strategy to build digital engagement. The reported same-store sales number includes a 0.30% negative impact in anticipation


Chipotle Mexican Grill on Wednesday reported earnings and revenue that beat analysts’ expectations after doubling its digital sales during the quarter. Notably, digital sales rose 100.7% during the quarter, accounting for 15.7% of total sales. Executives would not disclose what percent of digital sales are delivery orders. The loyalty program is just one part of Chipotle’s strategy to build digital engagement. The reported same-store sales number includes a 0.30% negative impact in anticipation
Chipotle earnings top estimates as digital sales double, boosts same-store sales outlook Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: amelia lucas, courtesy of taco bell
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Chipotle earnings top estimates as digital sales double, boosts same-store sales outlook

Chipotle Mexican Grill on Wednesday reported earnings and revenue that beat analysts’ expectations after doubling its digital sales during the quarter.

After the markets closed, shares of the company initially surged 4% but have since lost those gains.

“The on-going improvement in each of our key operating metrics over the past few quarters gives us confidence that our mission to win today and cultivate the future, is resonating,” CEO Brian Niccol said in a statement.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

Earnings per share: $3.40, adjusted, vs. $3.01 expected

Revenue: $1.31 billion vs. $1.27 billion expected

Same-store sales growth: 9.9% vs. 7.29%

Chipotle reported fiscal first-quarter net income of $88.1 million, or $3.13 per share, up from $59.4 million, or $2.13 per share a year earlier.

Excluding expenses related to restaurant asset impairment, corporate restructuring and other costs, the Mexican food chain earned $3.40 per share, topping the $3.01 per share expected by analysts surveyed by Refinitiv. Price hikes at the end of 2018 helped lower food, beverage and packaging costs but were partially offset by more demand for steak.

Net sales rose 13.9% to $1.31 billion, beating expectations of $1.27 billion.

Notably, digital sales rose 100.7% during the quarter, accounting for 15.7% of total sales. Executives would not disclose what percent of digital sales are delivery orders.

In March, Chipotle launched its points-based loyalty program nationwide. Less than a week later, the company surpassed its one millionth member, who scored a year’s worth of Chipotle. The program has already helped mobile app downloads soar, according to a Barclays note. The company plans to use consumer data to better target loyalty program members.

During the company’s earnings conference call, Niccol said the rewards program has grown to 3 million members.

The loyalty program is just one part of Chipotle’s strategy to build digital engagement. The company has a partnership with third-party delivery service DoorDash. At the end of 2018 and in the first week of 2019, Chipotle offered free delivery to promote the partnership. Niccol told investors that nearly half of the free delivery burrito bowls were new or lapsed customers. Even after the promotion ended, Chipotle saw increased customer retention.

Whereas some restaurants have seen third-party delivery services’ hefty commission fees offset the benefits of delivery, executives said that delivery actually helped raise its operating margin to 21% this quarter.

It has also been investing in changes to its restaurants to make delivery and digital pick-up easier for customers, like pick-up shelves and drive-through windows called Chipotlanes.

Same-store sales grew by 9.9%, driven by a 5.8% increase in restaurant transactions. This is the fifth consecutive quarter that Chipotle has seen same-stores growth. The reported same-store sales number includes a 0.30% negative impact in anticipation of customers redeeming loyalty program rewards.

The company raised its same-store sales outlook for 2019. It is now forecasting mid-to-high single-digit sales growth at stores open at least a year. It previously said that it was expected mid-single digit growth.

The company opened 15 stores and closed 2 locations during the quarter, bringing its total restaurant count to 2,504. Chipotle reiterated its forecast of opening between 140 to 155 stores during 2019.

Second-quarter food costs are expected to rise 1% because of avocados. The chain is known for charging extra for its guacamole, but that won’t shield it from rising avocado prices that began to hit the company in late March. Hartung said that Chipotle is forecasting higher prices due to higher demand from retailers and lower supply from California growers.

Investors have been optimistic about the chain under Niccol’s leadership. When he was head of Taco Bell, he was known for developing innovative products. At the end of March, the company’s stock price hit $700 per share for the first time since 2015, when a multistate E. coli outbreak linked to Chipotle sent shares plunging. The stock is up more than 64% so far in 2019.

“They are on a pathway back, but I think one of the key [reasons] has been the marketing and pushing more the dollars towards the national marketing versus local marketing,” BTIG analyst Peter Saleh said on CNBC’s “Closing Bell.”

In 2018, Chipotle launched a national advertising campaign “For Real,” which focuses on its ingredients. Two months ago, it released “Behind the Foil,” documentary-style ads that show how the chain prepares its ingredients before they land in a customer’s burrito.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: amelia lucas, courtesy of taco bell
Keywords: news, cnbc, companies, boosts, chipotle, share, sales, program, outlook, double, customers, reported, digital, company, samestore, delivery, estimates, earnings, loyalty


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Snap plunges after its earnings beat as analysts say it’s going to take longer to get profitable

Snap was down more than 5% Wednesday morning following an initial after-hours rally on its earnings beat. Snap also beat analyst estimates on revenue, reporting $320 million compared with the $307 million forecast by Refinitiv. It surpassed expectations on global daily active users (DAUs) and average revenue per user (ARPU) on top of that. In notes Wednesday morning, analysts said that Snap’s new investments will prevent it from nearing profitability in the short term. Watch: Snap surged after i


Snap was down more than 5% Wednesday morning following an initial after-hours rally on its earnings beat. Snap also beat analyst estimates on revenue, reporting $320 million compared with the $307 million forecast by Refinitiv. It surpassed expectations on global daily active users (DAUs) and average revenue per user (ARPU) on top of that. In notes Wednesday morning, analysts said that Snap’s new investments will prevent it from nearing profitability in the short term. Watch: Snap surged after i
Snap plunges after its earnings beat as analysts say it’s going to take longer to get profitable Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: lauren feiner, adam galica
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Snap plunges after its earnings beat as analysts say it's going to take longer to get profitable

Snap was down more than 5% Wednesday morning following an initial after-hours rally on its earnings beat. The drop shaved more than $800 million from its market cap, bringing it to around $15 billion, though the stock is still up more than 105% in 2019.

The shares popped as much as 11% on Tuesday in extended trading after the company reported a loss of 10 cents per share compared with the 12 cents forecast by Refinitiv. Snap also beat analyst estimates on revenue, reporting $320 million compared with the $307 million forecast by Refinitiv. It surpassed expectations on global daily active users (DAUs) and average revenue per user (ARPU) on top of that.

But the surge began to fade to just about a 1% bump in after-hours trading as investors continued to read through the report and listened to Snap’s earnings call.

Analysts remain wary of the stock despite its slew of new feature announcements including an ad-supported gaming platform, a fresh lineup of original shows and a new ad platform. In notes Wednesday morning, analysts said that Snap’s new investments will prevent it from nearing profitability in the short term.

“While we are impressed with Snap’s user and revenue growth, the company’s road to profitability appears to have gotten longer,” Wedbush Securities analysts wrote in a note Wednesday, maintaining their neutral rating with a 12-month price target of $12.25. “The company has taken several steps to improve the utility of its app, increase user engagement, and explain its value proposition to advertisers, but increasing spending leaves us concerned that Snap will not achieve profitability until 2021 at the earliest.”

Atlantic Equities analysts gave the stock an underweight rating, while raising their price target from $7.50 to $10, based on increased assumptions for both costs and revenue. While the analysts were pleased with Snap’s “solid progress with monetization in Q1,” they wrote, “commentary regarding Q2 user trends was relatively cautious and the company indicated it plans to increase investment to drive growth, which could further push out profitability.”

Analysts expressed some reserved optimism about Snap’s new features, including the recent rollout of its Android app rebuild that Snap says will drive more user growth, but they continue to see spending racking up as it works toward long-term growth.

“Early results showed a modest increase in frequency of use for Snapchatters who have downloaded the rebuilt app, though this may take time to flow through to financials,” Canaccord Genuity Capital Markets analysts wrote, giving the stock a hold rating and upgrading its price target from $9.50 to $13.

Stifel analysts also recognized the potential value in Snap’s new initiatives.

“Although Snap is executing a potentially disruptive sales organization restructuring during 2Q, the company’s ad products appear to be gaining traction with both large brands and direct response advertisers as they continue to grow in sophistication, building Snap’s active advertiser base and auction density,” the analysts wrote, giving the stock a hold rating while upgrading its price target from $10 to $13. “Snap’s plans to invest in marketing, content, engineering, and sales in 2Q to support its long-term strategic objectives could mitigate near-term operating leverage but we still believe the company can reach breakeven adj. EBITDA by 2021.”

Disclosure: CNBC parent NBCUniversal is an investor in Snap .

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Watch: Snap surged after its earnings report, and here’s what the CEO said that had investors so excited


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: lauren feiner, adam galica
Keywords: news, cnbc, companies, plunges, say, revenue, going, analysts, profitable, beat, stock, wrote, target, snaps, longer, user, price, snap, rating, earnings


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Stocks making the biggest moves midday: AT&T, Domino’s Pizza, eBay & more

Check out the companies making headlines midday Wednesday:Domino’s Pizza — Shares of Domino’s Pizza surged 8.9% on stronger-than-forecast quarterly earnings. The company reported earnings of $2.20, 11 cents higher than a Refinitiv estimate. The company also reported first-quarter earnings that were in line with expectations. AT&T — Shares of AT&T fell 4% after the company missed Wall Street estimates for first-quarter revenue due to the weaker-than-expected sales in its WarnerMedia unit. Biogen


Check out the companies making headlines midday Wednesday:Domino’s Pizza — Shares of Domino’s Pizza surged 8.9% on stronger-than-forecast quarterly earnings. The company reported earnings of $2.20, 11 cents higher than a Refinitiv estimate. The company also reported first-quarter earnings that were in line with expectations. AT&T — Shares of AT&T fell 4% after the company missed Wall Street estimates for first-quarter revenue due to the weaker-than-expected sales in its WarnerMedia unit. Biogen
Stocks making the biggest moves midday: AT&T, Domino’s Pizza, eBay & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: fred imbert, jason alden, bloomberg, getty images
Keywords: news, cnbc, companies, share, shares, revenue, ebay, dominos, stock, sales, pizza, making, moves, att, midday, company, reported, stocks, biggest, rose, earnings, firstquarter


Stocks making the biggest moves midday: AT&T, Domino's Pizza, eBay & more

Check out the companies making headlines midday Wednesday:

Domino’s Pizza — Shares of Domino’s Pizza surged 8.9% on stronger-than-forecast quarterly earnings. The company reported earnings of $2.20, 11 cents higher than a Refinitiv estimate.

Anadarko Petroleum — The energy company’s stock jumped 12% after Occidental Petroleum announced a bid of $76 a share for Anadarko, topping an earlier offer from Chevron. Occidental’s bid values Anadarko at $57 billion.

Caterpillar — The industrial giant’s stock fell 2.5% after CFO Andrew Bonfield told Bloomberg News the company’s China sales are being impeded by aggressive price competition. Bonfield’s comments overshadowed earnings that topped analyst expectations.

Boeing — Boeing shares rose 0.9% despite the aircraft manufacturer announcing it is pausing share buybacks and withdrawing its full-year guidance, noting its troubles with the 737 Max aircraft. Boeing’s stock had been struggling after two of its 737 Max jets crashed within 5 months. The company also reported first-quarter earnings that were in line with expectations.

Texas Instruments — Texas Instruments rose 2% after posting better than expected first-quarter earnings and revenue. The company reported quarterly profit of $1.26 on revenue of $3.59 billion. Analysts polled by Refinitv expected a profit of $1.13 per share on sales of $3.48 billion. However, Texas Instruments warned that slowdown of microchip demand may persist in upcoming quarters.

AT&T — Shares of AT&T fell 4% after the company missed Wall Street estimates for first-quarter revenue due to the weaker-than-expected sales in its WarnerMedia unit. AT&T also reported a surprise increase in wireless customers, and said it would pay off 75% of the debt incurred in its Time Warner deal by the end of the year.

Biogen — Biogen’s stock dipped nearly 2% after the biotech company halted the trial for its Alzheimer’s drug last month, which shocked investors as the drug was expected to be a blockbuster. The news overshadowed stronger-than-expected first-quarter earnings. Biogen reported earnings of $6.98 per share for the first quarter, beating a Refinitiv estimate of $6.87 per share.

Best Buy — Best Buy gained more than 2% after Jefferies upgraded the stock to buy from hold, calling the electronics retailer “a new big blue.” The bank is bullish on Best Buy’s push into services including tech support and in-home advice program.

EBay — Shares of eBay rose more than 4% after the online auction site reported better-than-expected quarterly earnings. EBay posted adjusted earnings of 67 cents per share, topping a Refinitiv estimate of 63 cents. Transaction revenue hit $2.11 billion, more than a FactSet estimate of $2.01 billion.

—CNBC’s Nadine El-Bawab , Yun Li and Matt Lavietes contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: fred imbert, jason alden, bloomberg, getty images
Keywords: news, cnbc, companies, share, shares, revenue, ebay, dominos, stock, sales, pizza, making, moves, att, midday, company, reported, stocks, biggest, rose, earnings, firstquarter


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Snap plunges after its earnings beat as analysts say it’s going to take longer to get profitable

Snap was down more than 4% Wednesday following an initial after-hours rally on its earnings beat. Snap also beat analyst estimates on revenue, reporting $320 million compared with the $307 million forecast by Refinitiv. It surpassed expectations on global daily active users (DAUs) and average revenue per user (ARPU) on top of that. In notes Wednesday morning, analysts said that Snap’s new investments will prevent it from nearing profitability in the short term. Watch: Snap surged after its earni


Snap was down more than 4% Wednesday following an initial after-hours rally on its earnings beat. Snap also beat analyst estimates on revenue, reporting $320 million compared with the $307 million forecast by Refinitiv. It surpassed expectations on global daily active users (DAUs) and average revenue per user (ARPU) on top of that. In notes Wednesday morning, analysts said that Snap’s new investments will prevent it from nearing profitability in the short term. Watch: Snap surged after its earni
Snap plunges after its earnings beat as analysts say it’s going to take longer to get profitable Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: lauren feiner, adam galica
Keywords: news, cnbc, companies, plunges, say, revenue, going, analysts, profitable, beat, stock, wrote, target, snaps, longer, user, price, snap, rating, earnings


Snap plunges after its earnings beat as analysts say it's going to take longer to get profitable

Snap was down more than 4% Wednesday following an initial after-hours rally on its earnings beat. The drop shaved more than $700 million from its market cap, bringing it to around $15 billion, though the stock is still up more than 105% in 2019.

The shares popped as much as 11% on Tuesday in extended trading after the company reported a loss of 10 cents per share compared with the 12 cents forecast by Refinitiv. Snap also beat analyst estimates on revenue, reporting $320 million compared with the $307 million forecast by Refinitiv. It surpassed expectations on global daily active users (DAUs) and average revenue per user (ARPU) on top of that.

But the surge began to fade to just about a 1% bump in after-hours trading as investors continued to read through the report and listened to Snap’s earnings call.

Analysts remain wary of the stock despite its slew of new feature announcements including an ad-supported gaming platform, a fresh lineup of original shows and a new ad platform. In notes Wednesday morning, analysts said that Snap’s new investments will prevent it from nearing profitability in the short term.

“While we are impressed with Snap’s user and revenue growth, the company’s road to profitability appears to have gotten longer,” Wedbush Securities analysts wrote in a note Wednesday, maintaining their neutral rating with a 12-month price target of $12.25. “The company has taken several steps to improve the utility of its app, increase user engagement, and explain its value proposition to advertisers, but increasing spending leaves us concerned that Snap will not achieve profitability until 2021 at the earliest.”

Atlantic Equities analysts gave the stock an underweight rating, while raising their price target from $7.50 to $10, based on increased assumptions for both costs and revenue. While the analysts were pleased with Snap’s “solid progress with monetization in Q1,” they wrote, “commentary regarding Q2 user trends was relatively cautious and the company indicated it plans to increase investment to drive growth, which could further push out profitability.”

Analysts expressed some reserved optimism about Snap’s new features, including the recent rollout of its Android app rebuild that Snap says will drive more user growth, but they continue to see spending racking up as it works toward long-term growth.

“Early results showed a modest increase in frequency of use for Snapchatters who have downloaded the rebuilt app, though this may take time to flow through to financials,” Canaccord Genuity Capital Markets analysts wrote, giving the stock a hold rating and upgrading its price target from $9.50 to $13.

Stifel analysts also recognized the potential value in Snap’s new initiatives.

“Although Snap is executing a potentially disruptive sales organization restructuring during 2Q, the company’s ad products appear to be gaining traction with both large brands and direct response advertisers as they continue to grow in sophistication, building Snap’s active advertiser base and auction density,” the analysts wrote, giving the stock a hold rating while upgrading its price target from $10 to $13. “Snap’s plans to invest in marketing, content, engineering, and sales in 2Q to support its long-term strategic objectives could mitigate near-term operating leverage but we still believe the company can reach breakeven adj. EBITDA by 2021.”

Disclosure: CNBC parent NBCUniversal is an investor in Snap .

Subscribe to CNBC on YouTube.

Watch: Snap surged after its earnings report, and here’s what the CEO said that had investors so excited


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: lauren feiner, adam galica
Keywords: news, cnbc, companies, plunges, say, revenue, going, analysts, profitable, beat, stock, wrote, target, snaps, longer, user, price, snap, rating, earnings


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