Palo Alto Networks (PANW) (Purchased 0.2 units @ $245.03) was up by around 5% on Friday after the California based firm fell following second quarter results. Revenue was in line with analysts’ estimates, reaching $1.98 billions, while EPS beated analysts’ expectations by far, attesting at $5.47. However, guidance was much lower than expected for FY 2024, which led to a sharp decline. The stock is now rising again due to the broader market rally caused by Nvidia’s sharp increase.
Warner Bros. Discovery missed analysts’ expectations for revenue and earnings due to poor advertising revenue and due to the streaming service company failing to provide free cash flow guidance for 2024. As a result of that, the company fell 12% in early trading on Friday. Going through the numbers, the company posted a fourth-quarter net-loss of $0.16 per share ($400 million) versus the $0.07 expected, and disappointing revenue of $10.28 billion versus the expected $10.35 billion. EBITDA was $2.5 billion, down 5% YoY, excluding the impact of foreign exchange.
Payments fintech company Block shares climbed over 13% on Friday after posting better-than-expected quarterly results. Block beat expectations on profits, as analysts were expecting the California-based company to post a net-loss of 1 cent a share, and instead Block posted a net income of 2 cents per share. The total revenue was $5.77 billion, up by 24% from a year earlier and, removing revenue generated by Bitcoin, the revenue was $3.25 billion (+15% YoY). The company has also provided a full year guidance that topped analysts’ estimates, saying that the adjusted earnings will be in a range between $570 million to $590 million, beating by far the analysts’ modeling at $511.76 million. The company also expects for the full-year to generate an adjusted profit of $2.63 billion, above Wall Street’s expectation of $2.40 billion. In the shareholders letter, company’s CEO Jack Dorsey said that the company has done a lot to cut costs and that now they will focus on their growth.
Author: Filippo Ferrero