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Reliance Trading Co. Limited – Key US Earnings Reports to Watch Today
Thursday, tech giant Microsoft and online pet-products retailer Chewy will deliver financial results after the market close.
By: Reliance Trading Co. Limited
Microsoft's second-quarter results come on the heels of a blowout first quarter. The company posted a beat on both the top and bottom lines, and the closely-watched cloud revenue grew 41% from the same period last year and exceeded analyst expectations. Microsoft shares soared following the report, hitting record highs and crossed the $1 trillion mark for the first time ever. The stock has jumped 35% so far this year and has outperformed the broader market, which rose 20%.
Analysts polled by Bloomberg are expecting the tech giant to report adjusted earnings of $1.22 per share on $32.78 billion in revenue. The options market is implying a 3.7% one-day move in either direction.
In addition, Chewy will report quarterly results for the first time since debuting as a public company on June 14. Investors have been piling into the stock in the past month, as shares soared 44% since its IPO. The S&P 500 is up only 3% in the same time period.
Much like its recent IPO peers, Chewy has yet to turn a profit. Investors will likely focus on hearing from management on its plans to become a profitable company.
Chewy is expected to report an adjusted earnings loss of 11 cents per share on $1.12 billion in revenue. According to its previously released S-1 filing, Chewy reported sales of $3.5 billion in 2018, up 67% from the prior year, and a net loss of $268 million.
The options market is currently implying a 10% one-day move in either direction following its report.
Visit www.reliancetradingco.com or contact us at email@example.com for further details.
About Reliance Trading Co. Limited
Experienced, local and independent, Reliance Trading Co. Limited has a deep knowledge of markets and what causes change; we have local roots in Hong Kong but maintain a global reach and worldview; and we are a truly independent business which allows us to give you sound investment advice based on facts, not spin.
We started with one goal in mind: provide custom investment portfolios to fit your specific investment needs. Our client's love that we're able to tap into all of the same data, information and resources as larger investment houses, all the while offering a bespoke service to each and every client, as their situation requires.
Reliance Trading Co. Limited