These are stocks that make moves on quarterly earnings reports before the U.S. market opens on Thursday:
Meta Platforms Shares Soar 11% as Sales, Forecast Beat Estimates
Meta Platforms reported Wednesday first-quarter results that topped Wall Street expectations and the social media giant provided upbeat revenue guidance amid ongoing progress to bring down costs.
Meta Platforms Inc, the parent company of Facebook rose more than 11% in premarket trading following the report.
Advertising revenue rose to $28.10B year-on-year in Q1 from $27.00B a year earlier.
Facebook daily active users, or DAUs, rose 4% to 2.04B, while monthly active people, or MAUs, rose 2% to 2.99B.
Deutsche Bank Posts Better-Than-Expected Profit; Flags Job Cuts
Deutsche Bank posted a better-than-expected 9% rise in first-quarter profit as income from higher interest rates offset a slump in revenues at the investment bank, figures on Thursday showed.
Net profit attributable to shareholders was 1.158 billion euros ($1.28 billion). That compares with profit of 1.060 billion euros a year earlier, and it is better than analyst expectations for a profit drop to around 977 million euros.
Barclays First Quarter Profit Beats Expectations on Credit Card Boom
Barclays reported a first quarter profit that exceeded expectations on Thursday, as a strong performance from its consumer banking business offset pressure on key other business lines.
The British bank reported pretax profit of 2.6 billion pounds ($3.25 billion), above the average analyst forecast of 2.2 billion pounds as compiled by the bank, and higher than the 2.2 billion pounds it reported in the same period a year ago.
Barclays stock jumps over 5% in premarket trading.
Roku Shares Climb 3% After Narrower-Than-Expected Loss
Roku Inc shares were 3% higher in premarket trading after the streaming platform reported a narrower-than-expected first-quarter loss.
Revenue rose to $741 million and the per-share loss was $1.38, while analysts expected revenue of $708 million and a loss of $1.48 a share. Revenue was up 1% from last year.
AstraZeneca First Quarter Profit, Revenue Beat Expectations
AstraZeneca on Thursday beat expectations for its first -quarter profit and revenue, helped by sales of some of its oncology as well as rare blood disorder drugs.
The London-listed drugmaker, which reports its results in U.S. dollars, reported adjusted profit of $1.92 per share on sales of about $10.9 billion.
Sanofi Profit Beats Estimates as Blockbuster Drug Advances
Sanofi’s profit rose more than expected in the first quarter as the French drugmaker’s blockbuster therapy Dupixent gained market share.
Earnings per share were €2.16 ($2.39) excluding some items, the company said Thursday. That exceeded analysts’ €2 estimate.
EBay Forecasts Upbeat Revenue As Sneakers, Refurbished Items Drive Growth
EBay Inc on Wednesday forecast current-quarter revenue above Wall Street projections after beating March-quarter earnings estimates, as it benefits from its strategy of focusing on product categories including sneakers and watches.
A selective push from the ecommerce firm also on items like collectibles and refurbished products is helping it drive sales at a time when consumer spending has moderated due to high inflation.
The upbeat results soothed investor sentiment, which was hit after eBay earlier this year said that demand weakness will persist in the first half of 2023. The company's shares rose 2.63% in premarket trading.
Caterpillar's Q1 Profit Rises on Resilient Demand, Pricing
Heavy machinery maker Caterpillar Inc on Thursday reported a rise in first-quarter profit as a boost in U.S. infrastructure spending kept its order books full and softened the hit from higher manufacturing costs.
The Biden administration's infrastructure legislation encouraged spending in the construction sector, spurring demand for the machinery maker's excavators, bulldozers and trucks.
Caterpillar shares rose more than 3% in premarket trading.
Honeywell Q1 Earnings Per Share Was $2.07, Full-Year Sales Are Expected to Be $36.5 Billion to $37.3 Billion
The company reported first-quarter year-over-year sales growth of 6% and organic sales growth of 8%, with another quarter of double-digit organic sales growth in Performance Materials and Technologies and Aerospace.
It raised the midpoint of its full-year sales, segment margin, and adjusted earnings per share guidance. Full-year sales are now expected to be $36.5 billion to $37.3 billion with organic sales growth in the range of 3% to 6%. Segment margin is now expected to be in the range of 22.3% to 22.6%.
Stocks rose nearly 2% in premarket trading.
Merck Non-GAAP EPS and Revenue Beat Estimates
Its Q1 Non-GAAP EPS was $1.40 and revenue was $14.48B. Total worldwide sales were $14.5 Billion, a decrease of 9% from Q1 2022, the company narrows expected full-year 2023 GAAP EPS range to be between $5.85 and $5.97, worldwide sales range to be between $57.7 billion and $58.9 billion.
Stocks rose nearly 1% in premarket trading.
Eli Lilly Raises Annual Profit Forecast on Strength of Diabetes Drug
Eli Lilly press release Q1 Non-GAAP EPS of $1.62 misses by $0.11. Driven by the decline in COVID-19 antibodies revenue, Q1 2023 EPS decreased 29% to $1.49 on a reported basis and decreased 38% to $1.62 on a non-GAAP basis, both inclusive of $0.10 of acquired IPR&D. Revenue of $6.96B (-10.9% Y/Y) beats by $90M.
Lilly's stock rose 4.84% in premarket trading.
Southwest Sees "Solid" Q2 Profit, Flags 20 Fewer Jet Deliveries From Boeing
Southwest Airlines Co said on Thursday it expects "solid profits" in the current quarter on strong summer bookings, and flagged 20 fewer deliveries of the MAX jets this year from Boeing Co.
The largest U.S. domestic airline, which reported a second-quarter loss due to a one-time charge owed to mass cancellations in December, joins rivals in allaying fears of a slowdown in travel due to a worsening economic outlook.
Southwest shares slid 3.88% in premarket trading.
American Airlines Forecasts Upbeat Second-Quarter Profit on Strong Travel Demand
American Airlines on Thursday forecast second-quarter profit above estimates as travel demand stays strong in the face of a looming recession.
Major airlines are riding the strongest travel wave since the start of the COVID-19 pandemic with more people flying despite rising airfare and squeezed budgets owing to high inflation.
Bristol Myers Posts Lower Q1 Sales As Revlimid Falls
Drugmaker Bristol Myers Squibb on Thursday said its first-quarter sales fell from last year, hurt by generic competition for its cancer drug Revlimid.
The drugmaker also announced on Wednesday evening that its Chief Executive Officer Giovanni Caforio plans to step down from the role in November, to be replaced by the company's current Chief Commercialization Officer Chris Boerner.
Hertz Stock up 4% Premarket After Earnings Beat
Hertz Global Holdings Inc.'s stock $(HTZ)$ rose nearly 4% premarket Thursday, after the car-rental company posted better-than-expected first-quarter earnings, even as net income fell from a year ago. Estero, Fla.-based Hertz had net income of $196 million, or 61 cents a share, for the quarter, down from $426 million, or 82 cents a share, in the year-earlier period.
