After U.S. markets closed on Monday, Zoom Video reported earnings per share (EPS) that beat the consensus estimate by 26% and revenue that beat the consensus by 1.3%. The company also said that new products were off to good starts and that the company plans to continue investing in innovation. Shares traded down nearly 4% shortly after Tuesday’s opening bell.
Before markets opened on Tuesday, Dick’s Sporting Goods missed on both the top and bottom lines. EPS fell short of the consensus by 26% and revenue was about 0.6% below expectations. The company said it had undertaken a business optimization, beginning with cuts in staffing at its customer service center. Dick’s expects to take a one-time charge of around $20 million in the third quarter and additional charges totaling $25 million to $50 million in the rest of the fiscal year. Shares were hammered, down 24% in the early going on Tuesday.
Baidu beat Wall Street estimates on both the top and bottom lines. Shares traded up 2.7%.
Lowe’s beat the consensus earnings estimate but missed slightly on revenue. Revenue fell by more than 9% year over year, while EPS rose by about 2.4%. The home improvement giant reaffirmed fiscal year guidance for both earnings and revenue. Shares traded up 3.7%.
Macy’s reported EPS that was nearly double the analysts’ estimate and a solid beat on the revenue estimate. But revenue was down 8% year over year, and same-store sales and gross margin both declined year over year. Macy’s also issued downside earnings and revenue guidance for the full fiscal year. The stock traded down 6.1%.
Toll Brothers and Urban Outfitters are on deck to report quarterly results after U.S. markets close on Tuesday, while Bath & Body Works, Foot Locker, Kohl’s and Peloton are scheduled to report earnings the following morning.
Here is a look at what analysts expect from these four firms reporting quarterly results after U.S. markets close on Wednesday or before Thursday’s opening bell.
Autodesk
Shares of computer design automation firm Autodesk Inc. (NASDAQ: ADSK) have dropped more than 9% over the past 12 months, including a gain of some 8% since the beginning of the year. Autodesk reports results late on Wednesday.
In February, the stock dropped 13% following a change to the company’s billing practices that investors interpreted as a big hit to profits and free cash flow. Those fears appear not to have materialized. In the first full quarter since that change was announced, analysts expect earnings to rise and free cash flow to stabilize.
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