Palm Beach, FL – February 10, 2022 – FinancialNewsMedia.com News Commentary – There is reason for optimism regarding the earnings season even if the next quarter is less that the last. According to an article on FACTSET which said: “At this point in time, the number of companies beating EPS estimates is equal to the five-year average, but the amount by which companies are beating estimates is slightly below the five-year average. As a result, the first week of February 2022 the S&P 500 index is reporting higher earnings for the fourth quarter relative to the end of last week and relative to the end of the quarter. The index is reporting earnings growth of more than 25% for the fourth straight quarter and earnings growth of more than 45% for the full year. These above-average growth rates are due to a combination of higher earnings in 2021 and an easier comparison to weaker earnings in 2020 due to the negative impact of COVID-19 on a number of industries. Due to these positive EPS surprises, the index is reporting higher earnings for the fourth quarter today relative to the end of last week and relative to the end of the fourth quarter. The blended (combines actual results for companies that have reported and estimated results for companies that have yet to report) earnings growth rate for the fourth quarter is 29.2%, compared to an earnings growth rate of 24.3% last few weeks ago and an earnings growth rate of 21.3% at the end of the fourth quarter (December 31). If 29.2% is the actual growth rate for the quarter, it will mark the fourth straight quarter of earnings growth above 25% for the index.” Active companies in the markets today include: Esports Technologies (NASDAQ: EBET), Zynga Inc. (NASDAQ: ZNGA), Uber Technologies, Inc. (NYSE: UBER), The Walt Disney Company (NYSE: DIS), Peloton Interactive, Inc. (NASDAQ: PTON).
FACTSET continued: “Positive earnings surprises reported by companies in multiple sectors, led by Amazon.com in the Consumer Discretionary sector, were responsible for the improvement in overall earnings for the index during the past week. Positive earnings surprises reported by companies in the Consumer Discretionary, Information Technology, and Financials sectors have been the top contributors to the overall increase in earnings for the index since the end of the fourth quarter.” In an article in Finance:Yahoo, PNC chief investment officer Amanda Agati told Yahoo Finance Live: “Investors need to be starting to set their expectations a bit lower,” she said. “Not necessarily bearish, but we do think the moderation in terms of growth not only for earnings season going forward, but also for economic growth is really going to be a dominant theme.”
Esports Technologies (NASDAQ: EBET) – BREAKING NEWS – Esports Technologies Announces Revenue of $7 Million for the First Quarter of 2022 – Esports Technologies Reaffirms Guidance of $70 Million of Revenue for Remaining Fiscal Year 2022 – Esports Technologies, a leading global provider of advanced esports wagering products and technology, announced revenue for the quarter ended December 31, 2021 of approximately $7.1 million and a gross profit of approximately $2.5 million, with substantially all of it coming in the month of December. During the quarter, EBET increased its cash position to $11.8 million, up $2.8 million from the previous fiscal year end. The company also reaffirmed its guidance of $70 million in revenue for the remainder of fiscal year 2022, which will include 10 months of reporting since the acquisition of the online sportsbook and casino brands Karamba, Hopa, Griffon Casino, BetTarget, Dansk777, and GenerationVIP.
Esports Technologies has taken significant strides in achieving its vision of being the leader in esports wagering and technology, gaining 1.25 million deposited customers from the acquisition that resulted in access to Tier 1 regulated markets including the United Kingdom, Germany, Denmark, and Ireland. This provides EBET the ability to continue to grow the number and size of wagers across all brands.
During the quarter, the company invested in the expansion to additional markets for its casino, sportsbook, and esports offerings, including Asia, Latin America, and Europe. Esports Technologies has consolidated all of its brands onto a single platform, which will enhance efficiency as it launches in new markets.
The company plans to continue to invest in new esports products and intellectual property. This includes the continued development of its odds-modeling technology to provide improved odds and more betting options to players, as well as its patent-pending browser extension that will allow live wagering within any streaming environment.
“This quarter, we have made a big step towards our vision to be the leader in esports wagering. The boost in revenue from our newly acquired brands is a great indication of future growth,” commented Aaron Speach, Chief Executive Officer of Esports Technologies. “With this business, and our other avenues for growth, we are strongly positioned to capitalize on the heightened popularity and interest in esports.” CONTINUED… READ THIS AND MORE NEWS FOR EBET BY VISITING: https://esportstechnologies.com/news/
In other earnings news of interest:
Zynga Inc. (NASDAQ: ZNGA) announced financial results for the fourth quarter and full year ended December 31, 2021.
“Our strong Q4 results capped off our record 2021 performance where we delivered our highest annual revenue and bookings ever, while reaching the largest mobile audience in Zynga history,” said Frank Gibeau, CEO of Zynga. “I am proud of our team’s execution across all aspects of our growth strategy including live services, new game development and investments in our advertising platform, new markets and technologies to solidify Zynga as a leading mobile-first, free-to-play live services company.” Read the full report at https://finance.yahoo.com/news/zynga-announces-fourth-quarter-full-210500961.html
Uber Technologies, Inc. (NYSE: UBER) announced financial results for the quarter and full year ended December 31, 2021. Financial Highlights for Fourth Quarter 2021:
- Gross Bookings grew 51% year-over-year (“YoY”) to $25.9 billion, or 50% on a constant currency basis, with Mobility Gross Bookings of $11.3 billion (+67% YoY) and Delivery Gross Bookings of $13.4 billion (+34% YoY). Trips during the quarter grew 23% YoY to 1.77 billion, or approximately 19 million trips per day on average.
- Revenue grew 83% YoY to $5.8 billion, or 82% on a constant currency basis.
- Net income attributable to Uber Technologies, Inc. was $892 million, which includes a $1.4 billion net benefit (pre-tax) relating to Uber’s equity investments, primarily due to aggregate unrealized gains related to the revaluation of Uber’s Grab and Aurora equity investments, partially offset by an unrealized loss related to the revaluation of Uber’s Didi equity investment. Additionally, net income includes $334 million in stock-based compensation expense. Read the full report at https://finance.yahoo.com/news/uber-announces-results-fourth-quarter-210500238.html
The Walt Disney Company (NYSE: DIS) reported earnings for its first fiscal quarter ended January 1, 2022. Diluted earnings per share (EPS) from continuing operations for the quarter increased to $0.63 from $0.02 in the prior-year quarter. Excluding certain items, diluted EPS for the quarter increased to $1.06 from $0.32 in the prior-year quarter.
“We’ve had a very strong start to the fiscal year, with a significant rise in earnings per share, record revenue and operating income at our domestic parks and resorts, the launch of a new franchise with Encanto, and a significant increase in total subscriptions across our streaming portfolio to 196.4 million, including 11.8 million Disney+ subscribers added in the first quarter,” said Bob Chapek, Chief Executive Officer, The Walt Disney Company. “This marks the final year of The Walt Disney Company’s first century, and performance like this coupled with our unmatched collection of assets and platforms, creative capabilities, and unique place in the culture give me great confidence we will continue to define entertainment for the next 100 years.” Read the full report at https://finance.yahoo.com/news/walt-disney-company-reports-first-210500944.html
Peloton Interactive, Inc. (NASDAQ: PTON) provided a business update and reported preliminary results for its second quarter Fiscal 2022 ended December 31, 2021.
They were: Total Revenue of approximately $1.14 billion, versus previously provided guidance of $1.1 billion to $1.2 billion; Ending Connected Fitness Subscriptions of approximately 2.77 million, versus previously provided guidance of 2.8 million to 2.85 million; verage Net Monthly Connected Fitness Churn of 0.79%; and Adjusted EBITDA in a range of $(270) million to $(260) million, versus previously provided guidance of $(350) million to $(325) million
“As we discussed last quarter, we are taking significant corrective actions to improve our profitability outlook and optimize our costs across the company. This includes gross margin improvements, moving to a more variable cost structure, and identifying reductions in our operating expenses as we build a more focused Peloton moving forward. This work is still underway and we expect to have more details to share when we report earnings on February 8, 2022,” said John Foley, co-founder and CEO.
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. Except as set forth below, FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM was compensated two thousand five hundred and ninety-five dollars by Esports Technologies Inc. for news coverage of the current press releases issued by Esports Technologies Inc. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or Form 1-K, as applicable, and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
Media Contact email: email@example.com – +1(561)325-8757
The post With Mixed Expectations, Some Sectors Met with Optimism as Earnings Season Continues appeared first on Financial News Media.