Earnings 04/17/2019

From Yesterday Aftermarket

IBM 134.47 +2.55 +1.93% IBM came in at adjusted earnings of $2.25 a share and revenue of $18.18 billion, estimates were $2.23 per share, revenue $18.53 billion. Full year adjusted earnings outlook was reiterated to “at least $13.90” a share.
BLK 421.43 +12.13 +2.96% BLK reported $6.61 per share and revenue of $3.35 billion. Estimates were $6.02 per share, revenue $3.29 billion
UAL 82.86 +1.24 +1.52% UAL reported adjusted earnings of $1.15 a share on revenue of $9.6 billion. Estimates were $0.96 per share, revenue $9.60 billion

Netflix

NFLX 302.93 +7.17 +2.42% NFLX reported $0.76 per share, revenue at $4.521 billion. Estimates were $0.57 per share, revenue $4.50 billion

“We believe there is vast demand for watching great TV and movies and Netflix only satisfies a small portion of that demand. Last quarter, we talked about how our streaming hours in the US (our most mature market) on TV still only represents roughly 10% of total TV usage. We are much smaller and have even more room to grow in other countries and on other devices like mobile. For instance, Sandvine estimates our share of global downstream mobile internet traffic is about 2%,” Netflix CEO Reed Hastings wrote in his letter to shareholders.

Q1 Highlights

US Streaming

  • Paid Memberships 60.23M
  • Paid Net Adds 1.74M
  • Sales $2.074B

International Streaming

  • Paid Memberships 88.63M
  • Paid Net Adds 7.86M
  • Sales $2.367B

Today’s Earnings

PepsiCo (PEP 131.89 +1.17 +0.90%) reported $0.97 a share on revenue of $12.88 billion, estimates were $0.93 on revenue of $12.68 billion. PEP affirmed its FY outlook signaling optimism about its growth prospects.

U.S. Bancorp (USB 52.22 +0.94 +1.83%) reported $1.00 per share, meeting estimates, revenue was $5.58 billion missing estimates of $5.59 billion.

Morgan Stanley (MS 40.06 +0.96 +2.46%) reported $1.39 per share on revenue of $10.3 billion. Estimates were for $1.17 per share on revenue of $9.93 billion. Profit was ahead of expectations, $2.4 billion vs $1.99 billion expected.

Reporting After the Bell

  • Alcoa Corporation (NYSE: AA) is estimated to post quarterly loss at $0.03 per share on revenue of $2.86 billion.
  • United Rentals, Inc. (NYSE: URI) is expected to post quarterly earnings at $3.09 per share on revenue of $2.07 billion.
  • Las Vegas Sands Corp. (NYSE: LVS) is estimated to post quarterly earnings at $0.86 per share on revenue of $3.47 billion.
  • E*TRADE Financial Corporation (NASDAQ: ETFC) is expected to post quarterly earnings at $0.92 per share on revenue of $732.52 million.
  • Plexus Corp. (NASDAQ: PLXS) is projected to post quarterly earnings at $0.84 per share on revenue of $780.50 million.
  • Pier 1 Imports, Inc. (NYSE: PIR) is estimated to post quarterly loss at $0.23 per share on revenue of $426.12 million.
  • Kinder Morgan, Inc. (NYSE: KMI) is projected to post quarterly earnings at $0.24 per share on revenue of $3.71 billion.
  • SL Green Realty Corp. (NYSE: SLG) is expected to post quarterly earnings at $0.43 per share on revenue of $240.17 million.
  • Torchmark Corporation (NYSE: TMK) is estimated to post quarterly earnings at $1.59 per share on revenue of $1.10 billion.
  • Crown Castle International Corp. (REIT) (NYSE: CCI) is projected to post quarterly earnings at $0.4 per share on revenue of $1.39 billion.
  • Atlassian Corporation Plc (NASDAQ: TEAM) is expected to post quarterly earnings at $0.18 per share on revenue of $304.65 million.
  • Sleep Number Corporation (NASDAQ: SNBR) is projected to post quarterly earnings at $0.73 per share on revenue of $425.32 million.
  • SLM Corporation (NASDAQ: SLM) is estimated to post quarterly earnings at $0.3 per share on revenue of $384.78 million.