Thursday’s Headlines: Shopify Smashes Revenue Expectations
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
Wix (WIX) +8.1%
Boston Beer Co. (SAM) +4.0%
Cloudflare (NET) +2.8%
Planet Fitness (PLNT) +2.8%
Eventbrite (EB) +2.4%
Moving Down ⬇️
Chuy's (CHUY) -9.1%
Chegg (CHGG) -7.6%
Stitch Fix (SFIX) -6.6%
Duluth Trading (DLTH) -5.2%
Zillow (Z) -5.1%
1. Shopify’s (SHOP) latest quarterly results might prove exactly why it is the best-performing stock on the MyWallSt shortlist. The challenger to Amazon’s (AMZN) e-commerce crown came out with beats across the board as revenue grew 94% year-over-year (YoY) to $977.7 million, while adjusted earnings per share (EPS) was $1.58. Much of this impressive growth was attributed to soaring online sales in 2020 thanks to COVID-19 lockdowns, while the company did acknowledge that it expects growth to slow in 2021 as vaccines are rolled out and normality returns. Read the official press release here.
2. We’ve heard all the promises before, but Ford (F) is putting its money where its mouth is when it comes to electric vehicle production. In a shock announcement yesterday morning, Ford said that its entire passenger vehicle range in Europe would be “zero-emissions capable, all-electric or plug-in hybrid” by the middle of 2026, with a “completely all-electric” offering by 2030. To help with this bold mission, Ford is investing $1 billion into an EV production facility in Cologne, Germany, which could serve as a blow to competitor Tesla’s (TSLA) ongoing plans for a Gigafactory in Berlin. Read the full story here.
3. A mere day after Apple (AAPL) scored a court victory in North Dakota over App Store regulations, the Big Tech giant is now subject to an EU complaint. In an ongoing saga that dates back to last September, Fortnite creator Epic Games has filed an antitrust complaint against Apple with the European Commission accusing the tech firm of being anti-competitive with its 30% App Store purchases fee. This is yet another investigation that could weigh down Apple’s App Store aspirations, with a U.S. trial to take place in May, and further complaints lodged in both Australia and the U.K. Strap in folks, this could be a long one. Read the full story here.
Some more earnings from last night:
Boston Beer (SAM)
2020 was a thirsty year it seems because Boston Beer’s net revenue rose to $460.9 million from $301.3 million a year earlier, with EPS coming in at $2.64 — a 135% increase YoY. The brewer is not resting on its laurels though, with a host of new products launching in 2021 to meet the new demand for beer-alternatives and alcohol-free options. Read the official press release here.
For an example of blowout earnings, look no further than Twilio, which reported a beat across the board with adjusted EPS of $0.04 on revenue of $548 million — up 65% YoY. CEO Jeff Lawson attributed these smashing results to the pandemic’s acceleration of cloud infrastructure growth, as more and more companies opt to modernize their offerings, thus providing Twilio with more business opportunities. Read the official press release here.
The popular web developer reported a better-than-expected loss per share of $0.03, while revenue rose 38% YoY to $282.5 million, also beating analyst estimates. CEO Avishai Abrahami was very optimistic about the future, stating: “My goal and belief is that at this rate of growth, in the next 5-7 years, 50% of anything new built on the internet will be done on Wix.” Download the official press release here.
There are 5 companies on the MyWallSt shortlist that will report earnings today:
Get this week’s full earnings calendar here.