International Business Machines (IBM) reported earnings per share (EPS) of $1.68 in its first quarter of 2023, surpassing the analyst estimate of $1.58 by $0.10. The company’s revenue came in at $14.46 billion, slightly lower than the consensus estimate of $14.51 billion. IBM’s stock closed at $184.01, marking a decline of 1.82% over the past three months and an increase of 46.17% over the past year.
Lam Research Corporation (NASDAQ: LRCX) reported impressive financial results for the third quarter of 2024, beating analyst estimates for both earnings per share (EPS) and revenue. The company reported an EPS of $7.79, exceeding the consensus estimate of $7.29 by a significant margin of $0.50. Revenue for the quarter reached $3.79 billion, surpassing the consensus estimate of $3.72 billion. Lam Research also provided guidance for the fourth quarter of 2024, projecting revenue between $3.50 billion and $4.10 billion, slightly below the analyst consensus of $3.77 billion.
Align Technology (NASDAQ: ALGN) released strong first-quarter results, exceeding analyst estimates for both earnings and revenue.
The company reported earnings per share (EPS) of $2.14, significantly higher than the consensus estimate of $1.97. Revenue for the quarter came in at $997.4 million, surpassing the consensus estimate of $974.53 million.
In terms of guidance, Align projects second-quarter 2024 revenue between $1.03 billion and $1.05 billion, in line with the analyst consensus of $1.03 billion. The company’s stock price closed at $313.78, showing an 18.73% increase in the last three months and a 10.74% decline in the last 12 months.
AT&T reported first-quarter financial results that missed revenue expectations but exceeded earnings estimates. The company’s operating revenues declined slightly year over year, attributed to lower Mobility equipment and Business Wireline revenues. However, AT&T’s Mobility segment reported strong wireless net additions and postpaid churn reduction. The Consumer Wireline segment also saw significant growth in AT&T Fiber net adds. Despite the revenue decline, AT&T’s adjusted EBITDA increased, and the company generated higher operating and free cash flow. The stock price rose in premarket trading following the earnings announcement. AT&T remains focused on its core communications services business and has raised its dividend yield to 6.73%.
MSCI, an investment research firm, reported strong first-quarter earnings on Tuesday, posting a 14.8% increase in revenue to $679.97 million. However, the company slightly missed the consensus estimate of $684.14 million. Despite missing revenue estimates, MSCI exceeded expectations with an adjusted EPS of $3.52, above the consensus of $3.45. MSCI reported growth across its major operating segments, including Index, Analytics, and ESG and Climate, driven by higher subscription revenues and asset-based fees. Index operating revenues grew by 10.2% year-over-year to $373.9 million, led by recurring subscription revenues. Analytics operating revenues increased by 11.5% to $164 million, primarily due to higher subscription revenues from Equity and Multi-Asset Class Analytics products. ESG and Climate operating revenues grew by 16.1% to $77.9 million, driven by solid growth in Ratings, Screening, and Climate products. MSCI’s Chairman and CEO, Henry A. Fernandez, acknowledged elevated cancels due to a concentration of client events, including a major merger among banking clients. The company expects these cancels to subside. For fiscal year 2024, MSCI maintained its operating expense guidance of $1.30 billion to $1.34 billion, capex of $95 million to $105 million, and free cash flow of $1.225 billion to $1.285 billion. MSCI shares fell by 13.4% to close at $446.00 on Tuesday. Several analysts adjusted their price targets for MSCI after the earnings announcement. Deutsche Bank analyst Faiza Alwy upgraded the stock from Hold to Buy while lowering the price target from $613 to $569. Morgan Stanley analyst Toni Kaplan maintained an Overweight rating but reduced the price target from $671 to $615.
Boeing reported a first-quarter EPS of $-1.13, outperforming analyst estimates by $0.50. Revenue came in at $16.57B, slightly below consensus estimates of $16.5B. Boeing’s stock price closed at $169.08, reflecting a decline of 17.71% in the past three months and 16.38% over the past year.
AT&T Inc. (NYSE:T) posted a mixed set of financial results for the first quarter of 2023, with earnings per share (EPS) exceeding analysts’ expectations but revenue falling short. The company reported EPS of $0.55, surpassing the consensus estimate of $0.53. However, revenue for the quarter came in at $30 billion, below the $30.53 billion anticipated by analysts.
Visa A (NYSE: V) reported better-than-expected second quarter earnings per share (EPS) of $2.51, exceeding analyst estimates by $0.07. The company’s revenue for the quarter came in at $8.78 billion, surpassing the consensus estimate of $8.62 billion. The stock price closed at $274.13, reflecting a 2.31% gain over the past three months and a 17.77% increase over the past year.
Lockheed Martin Corporation reported strong first quarter financial results, surpassing analyst estimates and raising its full-year guidance. The defense contractor posted earnings per share (EPS) of $6.39, exceeding the consensus estimate by $0.59. Revenue came in at $17.2 billion, beating the $16.02 billion forecast. Looking ahead, Lockheed Martin expects EPS in fiscal year 2024 to range between $25.65 and $26.00, which is slightly above the analyst consensus of $26.03.
Truist Financial Corporation (TFC) reported adjusted EPS of 90 cents in Q1, exceeding the consensus estimate of 80 cents but falling short of $1.05 a year ago. Revenue declined to $4.87 billion from $5.34 billion a year earlier, missing the consensus forecast of $5.7 billion. Key factors contributing to the results include a decline in net interest income due to lower earning assets and higher funding costs, as well as an increase in noninterest income driven by investment banking and trading activities.
