Friday’s Headlines: Peloton Earnings Pedal To The Moon
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
Align Technology (ALGN) +12.6%
Baozun (BZUN) +9.6%
Match Group (MTCH) +9.1%
Stitch Fix (SFIX) +8.4%
PayPal (PYPL) +7.4%
Moving Down ⬇️
Nordstrom (JWN) -6.8%
IMAX (IMAX) -3.0%
Lemonade (LMND) -1.3%
1. Peloton (PTON) banked its first billion-dollar quarter as paid digital subscriptions jumped 472% to over 625,000. The firm posted record sales growth of 128%, which led to adjusted earnings per share (EPS) of $0.18 on revenue of $1.06 billion, beating analysts’ estimates. In a bid to alleviate its struggling supply chains as demand for products keeps increasing, the company will invest $100 million in tackling the problem of production delays. See the full press release here.
2. Activision Blizzard (ATVI) capped off a year of monumental gains following full-year revenue growth of 24% year-over-year (YoY). The California-based company reported EPS of $0.65 on net bookings of $3.05 billion, citing huge success in its ‘Call of Duty’ franchise, which sustained over 100 million monthly active players in 2020. Activision Blizzard now has more than 300 million users playing its video games, while monthly active users on PC and console grew 70% YoY. See the full press release here.
3. Pinterest (PINS) recorded 76% revenue growth YoY thanks to the holiday gifting season and global lockdowns. Pinterest posted EPS of $0.43 on revenue of $706 million, versus $0.32 on $645 million expected, while international revenue reached $123 million, up 145% YoY. Meanwhile, its Q4 shopping advertisement business saw six-times its Q3 traffic. The social media platform now has 459 million monthly active users, which the company attributed to more people turning to the app for entertainment during the pandemic. Read the full press release here.
Some more earnings from yesterday:
The cloud-based software reported total revenue of $54 million, up 38% YoY, while transaction fees increased 98% YoY. CEO René Lacerte stated the company: “delivered strong financial results and record payment volume growth driven by robust demand for our platform and its expanded payment offerings.” Read the full press release here.
Ford Motors (F)
America's favorite car company reported better-than-expected Q4 earnings of $0.34 per share on revenue of $33.2 billion. The motor company also announced its plans to boost investment in electric and autonomous models to $29 billion through 2025, giving Ford investors an optimistic outlook for the future. Read the full report here.
The action camera company's earnings were a mixed bag as revenue fell 32% YoY to $358 million, but EPS of $0.39 topped estimates. The company also ended the quarter with 761,000 subscribers, up 145% from last year. GoPro CFO, Brian McGee, said "Our subscription-based consumer-direct strategy is proving to be successful." Read the report here.
The San Francisco-based company beat earnings estimates with $0.11 per share, while revenue soared 23% YoY to $283.5 million. These results helped the SaaS company reach the $1 billion mark for sales in 2020, an important milestone for software companies. Check out the full report here.
Get this week’s full earnings calendar here.