Alphabet and Visa beat earnings expectations, while Reddit surprises with profit

From Nasdaq: 2024-10-29 18:21:00

Market indexes started off slow but climbed into positive territory, with the Nasdaq hitting an all-time high and the S&P 500 staying in the green. The Dow dropped -154 points, the S&P closed up +0.16%, the Nasdaq up +0.78%, and the Russell down -0.27%. Q3 earnings season is heating up with key companies like Alphabet reporting strong beats.
Alphabet, parent company of Google and YouTube, reported earnings of $2.12 per share, beating expectations of $1.83. Revenue came in at $74.45 billion, above the anticipated $72.85 billion. Most segments performed above consensus, with shares up nearly +5%.
Advanced Micro Devices (AMD) beat earnings estimates with 92 cents per share and $6.82 billion in revenue. Gaming revenue missed expectations, leading to a -6% drop in shares after hours. Chipotle posted mixed results, with a two-cent beat on earnings but a top-line miss, causing shares to fall -2.5%.
Visa reported earnings of $2.71 per share on $9.62 billion in sales, beating analyst estimates. Shares are up +1.5%. Reddit swung to a surprise profit with earnings of +16 cents per share and revenues of $348 million, sending shares up +17%.
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Read more at Nasdaq: Alphabet, Visa, Reddit Up on Strong Earnings Numbers