The Q3 earnings season has been solid, with 95% of S&P 500 companies reporting. Analysts expect a 13.4% jump in earnings per share, exceeding previous expectations of a 7.9% increase.
Retailers like Macy’s, Dollar Tree, and American Eagle Outfitters are reporting results, shedding light on consumer sentiment during the holiday shopping season. Companies like Salesforce and CrowdStrike are set to report in December.
Macy’s beat Wall Street’s estimates with revenue of $4.7 billion and adjusted earnings per share of $0.04. Same-store sales grew 2.5%, leading to an increase in its 2025 outlook.
American Eagle Outfitters saw stock surge after CEO noted “record-breaking Thanksgiving weekend.” Third-quarter profit per share of $0.53 beat estimates, with revenue at $1.36 billion.
CrowdStrike raised its full-year revenue guidance after reporting a diluted loss per share of $0.14 and revenue of $1.23 billion. Analysts underestimated its growth potential.
Okta stock fell despite beating Wall Street estimates with revenue of $742 million and adjusted profit per share of $0.82 in the third quarter.
Marvell stock slid 6% after announcing earnings beat and Celestial AI acquisition. Revenue was $2.07 billion, surpassing expectations.
Credo stock surged 20% after reporting earnings per share of $0.44 and revenue of $268 million. Quarterly results reflected the AI build-out.
MongoDB stock soared 15% after reporting revenue of $628.3 million and upbeat full-year outlook. CEO attributed success to Atlas platform strength.
Market reactions to Q3 earnings have been downbeat, with investors punishing earnings misses more than usual.
Deere’s stock fell 5% after its first outlook for the year fell short. Uncertainty persists in the US farm economy recovery timing.
HP is investing $1 billion in AI, even if it means cutting jobs, CEO says. Dell forecasts growth on AI server sales success.
NIO reported 87,071 vehicle deliveries, but stock fell despite narrower-than-expected loss. Alibaba rose after beating revenue estimates.
Read more at Yahoo Finance: Macy’s stock falls after reporting Q3 profit, American Eagle and Marvell surge