Friday’s Headlines: Disney+ Is Star Of The Show
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
Zillow (Z) +17.8%
Pinterest (PINS) +7.3%
TrueCar (TRUE) +4.3%
Pure Storage (PSTG) +4.0%
Moving Down ⬇️
Trupanion (TRUP) -11.3%
Paycom (PAYC) -4.3%
Nautilus (NLS) -4.3%
Bill.com (BILL) -3.0%
Ford Motor Company (F) -2.6%
1. The House of Mouse smashed Q4 estimates off the back of its growing Disney+ subscriber base, which helped boost its other businesses hurt by the pandemic. Despite a 53% decline in Parks and Experiences revenue due to location closures, Disney (DIS) reported earnings of $0.32 per share on revenue of $16.25 billion, thanks in part to its now 95 million Disney+ subscribers. CFO Christine McCarthy said the entertainment leader was “really happy with the conversion numbers that we’ve seen there going from the promotion to become paid subscribers.” See the full report here.
2. Cloudflare (NET) earnings topped the Street’s estimates yesterday but guidance for 2021 offset fourth quarter beats, causing the stock to fall. The San Francisco-based company reported a fourth-quarter loss of $0.02 per share on revenue of $126 million, up 50% year-over-year (YoY). It was still a record-breaking year for Cloudflare, with CEO Matthew Prince concluding: “Our paid customer count grew to more than 111,000, with our largest customers continuing to be our strongest growth area.” Check out the full press release here.
3. Bumble is now valued at $7.7 billion as Wall Street swiped right on the dating app’s IPO. The online dating business debuted under the ticker symbol, ‘BMBL’, and closed up 63% at $70.31 per share. Bumble — which is the parent company of both its namesake app and Badoo too — said it has over 40 million monthly active users and is focusing on converting more of those singletons into paid subscribers. CEO Whitney Wolfe Herd stated: “I think the global investment community can really get behind the potential of building a global women’s brand.” Read more on the story here.
Some more earnings from yesterday:
Blackline reported better-than-expected earnings yesterday of $0.21 per share on revenue of $95.7 million, up 19% YoY. CEO Marc Huffman commented: “I am incredibly proud of what BlackLine has been able to accomplish in 2020 as we continued to drive growth, scale the business, and expand our strong leadership position. Read the full report here.
The machine vision system company came out with quarterly earnings of $0.39 per share on revenue of $223 million, up 31% YoY, which set a new record for annual revenue. Founder of Cognex Dr. Robert J. Shillman was upbeat on the call, stating: “We remained focused on long-term growth opportunities, which we believe has positioned us well going into 2021.” Read the entire press release here.
The leading data platform smashed December-quarter estimates by reporting revenue of $178 million, up 56% YoY and adding 97 new customers. CEO Olivier Pomel confidently stated: “Our already strong market position will only be strengthened longer-term by the pandemic, as the needs to be digital-first and agile are more prominent than ever.” Read the full press release here.
Get this week’s full earnings calendar here.