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Tech Earnings to watch out for upcoming week 15-19Nov 2021

As an investor or trader, the earning event is the most important part of watching the companies performance and future potentials. This week also many companies are going to show their financial reports and business reports to their shareholders. Below there are some major listed companies are going to report their earnings report in the next week.

Monday – November 15

Lucid Group (NASDAQ: LCID) 

Lucid Motor is a manufacturer of electric vehicles.  Lucid Group is set to publish third-quarter earnings on Monday, November 15. It is going to make its first earnings report since it started Lucid Air electric-car deliveries in late October. This will be the first set of quarterly earnings to be released by Lucid Group since it went public through a SPAC merger back in July. Late Monday, Wall Street expects Lucid Motors to lose 25 cents a share on nominal revenue, according to FactSet.

Canoo Inc (NASDAQ: GOEV )

With the market capitalization of Canoo Inc. currently standing at about $2.00 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 17, 2021. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report.

Analysts are projecting the company’s earnings per share (EPS) to be -$0.42, which is expected to increase to -$0.44 for the fiscal year -$1.44 and then to about -$1.38 by the fiscal year 2022. Data indicates that the EPS growth is expected to be -77.80% in 2022, while the next year’s EPS growth is forecast to be 4.20%.

Tuesday – November 16

Sea Ltd (NYSE: SE)

Sea reported $4.38 billion in sales last year. Come 2023, Wall Street is expecting roughly $18.5 billion in full-year revenue. The company’s most exciting segment is the e-commerce platform Shopee, which has consistently been the most-downloaded shopping app in Southeastern Asia and has seen rapid growth in Brazil.

Investors are waiting for this quarter’s results, scheduled for Aug 16, 2021 – Aug 20, 2021. Analysts have estimated the company’s revenue for the quarter at $2.34 billion, with a low estimate of $2.13 billion and a high estimate of $2.47 billion. Wall Street analysts also predicted that in 2022, the company’s y-o-y revenues would reach $8.92 billion, representing an increase of 103.90% from the revenues reported in the last year’s results.

Walmart (NYSE: WMT)

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on November 16. On the other hand, if they miss, the stock may move lower.

This world’s largest retailer is expected to post quarterly earnings of $1.38 per share in its upcoming report, which represents a year-over-year change of +3%.

Revenues are expected to be $135.19 billion, up 0.4% from the year-ago quarter.

Wednesday – November 17

Nvidia Co. (NASDAQ: NVDA)

Nvidia is set to release its quarter three (Q3) financial results on 17 November 2021, after the bell. Expectations for its upcoming Q3 results are for revenue to come in at $6.8 billion, up 43.9% from a year earlier and up 4.5% from the previous quarter.

On another note, its earnings per share (EPS) is expected to come in at $1.11, up 84% from a year ago. NVIDIA has been seeing strong sales momentum since quarter two (Q2) 2021, lifted by growth across all its business segments as the Covid-19 pandemic accelerates the adoption of digital transformation. The upcoming results may remain supported by its key segments, namely gaming and data centres, which have seen record-breaking revenues in the last quarter.

Baidu Inc. (NASDAQ: BIDU)

Wall Street brokerages forecast that Baidu, Inc. will post $4.91 billion in sales for the current fiscal quarter, Zacks Investment Research reports.  Two analysts have provided estimates for Baidu’s earnings, with estimates ranging from $4.81 billion to $5.01 billion. Baidu reported sales of $4.16 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 18%.

The company is expected to issue its next earnings report before the market opens on Wednesday, November 17th.

On average, analysts expect that Baidu will report full-year sales of $19.39 billion for the current financial year, with estimates ranging from $18.81 billion to $19.62 billion.

Thursday – November 18

Alibaba (NYSE: BABA) 

Alibaba Group Holding Ltd’s earnings expectations have slumped to the lowest in more than a year ahead of its second-quarter results. Alibaba will announce its Q2 earnings on November 18.

Another interesting piece of data that is worth looking at is its website traffic trends that provide a glimpse of future performance. Alibaba’s total website visit volumes (including alibaba.com and aliexpress.com) fell from 1.7 billion in Q3 FY20 to 1.3 billion at the end of Q1 FY21.

Wall Street expects Alibaba to post revenues of $32.06 billion, up about 40% year-over-year. However, its adjusted earnings are expected to decline by 26% year-over-year to $1.95 a share.

 

Applied Materials Inc. (NASDAQ: AMAT)

Wall Street expects a year-over-year increase in earnings on higher revenues when Applied Materials (AMAT) reports results for the quarter ended October 2021. While this widely-known consensus outlook is important in gauging the company’s earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

This maker of chipmaking equipment is expected to post quarterly earnings of $1.94 per share in its upcoming report, which represents a year-over-year change of +55.2%. Revenues are expected to be $6.33 billion, up 35.1% from the year-ago quarter.

Palo Alto Network (NASDAQ: PANW) 

Shares of security hardware and software company Palo Alto Networks rose 10% in extended trading on Monday after the company announced better-than-expected earnings and a rosy profit forecast for the new fiscal year.

For the 2022 fiscal year, Palo Alto Networks sees adjusted earnings of $7.15 to $7.25 per share on $5.28 billion to $5.33 billion in revenue. That’s well ahead of Refinitiv estimates, which were $7.07 in adjusted earnings per share and $4.99 billion in revenue.

With respect to guidance, for the fiscal first quarter, the company called for $1.55 to $1.58 in adjusted earnings per share on $1.19 billion to $1.21 billion in revenue. Analysts polled by Refinitiv had expected $1.59 in adjusted earnings per share on $1.15 billion in revenue.

Workday (NYSE: WDAY)

Workday, Inc. is estimated to report earnings on 11/18/2021. The upcoming earnings date is derived from an algorithm based on a company’s historical reporting dates. Our vendor, Zacks Investment Research, might revise this date in the future, once the company announces the actual earnings date.

According to Zacks Investment Research, based on 27 analysts’ forecasts, the consensus EPS forecast for the quarter is $-0.02. The reported EPS for the same quarter last year was $0.02.

 

 

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