{"id":293259,"date":"2020-04-24T07:12:03","date_gmt":"2020-04-23T21:12:03","guid":{"rendered":"https:\/\/www.gomarketingteam.com\/articles\/a-summary-of-major-us-earnings-reports\/"},"modified":"2021-02-19T12:13:54","modified_gmt":"2021-02-19T01:13:54","slug":"a-summary-of-major-us-earnings-reports","status":"publish","type":"post","link":"https:\/\/www.gomarkets.com\/en\/articles\/shares-and-indices\/a-summary-of-major-us-earnings-reports\/","title":{"rendered":"A Summary of Major US Earnings Reports"},"content":{"rendered":"

By Deepta Bolaky<\/strong>
\n\u00a0@DeeptaGOMarkets<\/a><\/p>\n

A Summary of Major US Earnings Reports<\/strong><\/h4>\n

IBM, Netflix Inc, Snap AT&T, and Intel Corp <\/strong>were among the major large-cap corporations reporting earnings.Even though the pandemic is expected to portrait a dire outlook, earnings results are much awaited to gauge if large companies can muddle through the crisis and how they are preparing for an eventual recovery.<\/p>\n

IBM <\/strong><\/p>\n

The company reported earnings of $1.84 per share and revenue of $17.57B. While earnings came above forecasts, revenue was slightly below the estimates. IBM withdrew its full-year 2020 guidance in the light of the current COVID-19 crisis. The company also stated that they will reassess this position based on the clarity of the macroeconomic recovery at the end of the second quarter.<\/p>\n

All in all, unless business conditions deteriorate further, the company is flaring quite well during the pandemic crisis. As of writing, its share price is currently trading at $121.43 and has recouped all the losses made after the release of the earnings reports.\u00a0<\/strong><\/p>\n

Netflix Inc.<\/strong><\/p>\n

The company reported a $5.8billion in revenue with a year-on-year growth of 27.6%. The number of subscribers came was above estimates and more than double its target with 15.77 million paid subscribers. The substantial growth came in March as the lockdown, and social distancing measures forced many more households to join Netflix.<\/p>\n

However, the company warned that revenue and growth might decline mostly due to probable lift of the confinement measures, strong US dollar that is impacting international revenue growth and the lack of high-quality content following the pause in production.<\/p>\n

Its share price seesawed between a range of $420 and $440 as investors digest the buoyant results and the uncertain foreseeable outlook.<\/p>\n

Snap Inc.<\/strong><\/p>\n

As people are practising physical distancing and remain at home, snap\u2019s user base grew to 229 million daily active users, up by 20% from last year.<\/p>\n

Q1 Financial Highlights:<\/p>\n