Earnings Movers | RACE & META Jumped Over 10% After Significant Earnings Beats

As the busiest earnings week, many companies yesterday issued surprising financial reports.

1. $Ferrari NV(RACE)$ +12.58%

Ferrari, the renowned luxury sports car manufacturer, exceeded Wall Street's projections for both revenue and profit in the fourth quarter, concluding a year marked by record-breaking profits.

The company reported a net profit of 1.26 billion euros, equivalent to $1.36 billion, for the fiscal year 2023.

• EPS: 1.62 euros vs. 1.50 euros expected

• Revenue: 1.523 bln euros vs. 1.506 bln expected

2. $Meta Platforms, Inc.(META)$ +17.14%

Meta surpassed expectations for both earnings and revenue and announced its first dividend payment. Meta plans to pay investors a dividend of 50 cents per share on March 26.

• EPS: $5.33 vs. $4.96

• Revenue: $40.1 bln vs. $39.18 bln

Additionally, the company provided optimistic guidance for the first quarter, forecasting sales to be between $34.5 billion and $37 billion, exceeding analysts' expectations of $33.8 billion in revenue.

3. $Amazon.com(AMZN)$ +6.98%

Amazon released its fourth-quarter results, surpassing expectations for EPS and revenue and providing robust guidance for the current quarter.

• EPS: $1.00 vs. 80 cents, beating by 25%

• Revenue: $170 bln vs. $166.2 bln expected

The company announced first-quarter sales projections ranging from $138 billion to $143.5 billion, indicating growth of 8% to 13%. Analysts had anticipated revenue of $142.1 billion.