๐Top Movers | Earnings Tripled! ELF, MTCH, GPN All Raised Guidance!
1. $e.l.f. Beauty Inc.(ELF)$ +19.17%: Tripled Earnings Show Surging Growth!
e.l.f. Beauty, Inc., together with its subsidiaries, provides cosmetic and skin care products under the e.l.f. Cosmetics, e.l.f. Skin, Well People, and Keys Soulcare brand names worldwide.
The company reported earnings that nearly tripled.
Elf EPS vaulted 182% to $1.10 from 39 cents a year ago, way higher than the estimates of 57 cents.
Sales surged 76.5% to $216.3 million, handily beating estimates of $184.6 million.
Adjusted EPS: $1.10 vs. 57 cents
Sales: $216.3 mln vs. $184.6 mln
Furthermore, ELF raised its sales and EPS guidance for fiscal 2024, indicating strong confidence in its future performance.
For fiscal 2024, ELF raised sales guidance to $792 million-802 million, up from $705 million-720 million. It also hiked EPS guidance to $2.19-$2.22, from $1.73-$1.76.
The new outlook also beats wallstreetโs expectations: full-year EPS of $1.83 on revenue of $730 million.
2. $Match(MTCH)$ +10.83% on Tinder's Record-Breaking Quarter and Strong Revenue
Match Group, Inc. provides dating products worldwide.
Match Group experienced a surge in its stock after reporting revenue that exceeded analysts' expectations, primarily driven by the growth of its flagship dating property, Tinder.
In the second quarter, Match Group's revenue increased by 4% to $830 million, with Tinder's direct revenue rising 6% to $475 million. This performance surpassed analysts' estimates of $811 million.
In terms of earnings, Match Group reported earnings per share of 48 cents, a significant improvement from a loss of 11 cents per share in the same period last year.
Adjusted EPS: 48 cents vs. 44 cents
Revenue: $830 mln vs. $811 mln
The growth and revenue acceleration of Tinder, even beyond the company's own expectations, led to a record-setting quarter, according to CEO Bernard Kim.
The company also raised its third-quarter outlook, projecting revenue between $875 million to $885 million.
3. $Global Payments(GPN)$ Surges 9.52% on Stellar Q2 Earnings and Upbeat 2023 Outlook
Global Payments Inc. provides payment technology and software solutions for card, check, and digital-based payments
In the second quarter, Global Payments reported adjusted EPS of $2.62, exceeding the average analyst estimate of $2.58. This marked an increase from $2.40 in the previous quarter and $2.36 from the same period last year.
Revenue for the quarter stood at $2.20 billion, surpassing the consensus estimate of $2.19 billion, and up from $2.05 billion in Q1 2023 and $2.06 billion in Q2 2022.
Adjusted EPS: $2.62 vs. $2.36
Revenue: $2.20 bln vs. $2.19 bln
The company raised the lower end of its 2023 guidance range for profit and sales while maintaining the upper end.
For the full year, Global Payments now expects revenue to be in the range of $8.660 billion to $8.735 billion, compared to the consensus estimate of $8.65 billion. Similarly, full-year adjusted EPS is projected to be between $10.35 and $10.44, surpassing the consensus estimate of $10.34.
In summary, Global Payments' strong second-quarter performance, along with its optimistic outlook for 2023, has driven the stock's significant increase.
How do you view the top movers?
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Global Payments is a Fortune 500 payments technology company, delivering the leading complete worldwide commerce ecosystem. Its unique, connected infrastructure unifies every aspect of commerce, from issuer solutions to payments, and the innovative software that delivers seamless customer experiences. I believe this field can continue to grow in the future as everything involves payment!
Come and share your point of views guys.
๐๐๐I am intrigued and impressed with $e.l.f. Beauty Inc.(ELF)$ latest earnings report. Elf started from very humble beginnings in 2004 from a USD 1 price point for its 13 products. ELF stands for Eyes, Lips and Face and filled a gap in the market place for inexpensive high quality cosmetics. Today it has grown to a USD 7.21 billion cosmetic empire.
Its latest earnings report had a net sales growth of 76% and delivered an outstanding 18 consecutive quarters of delivering both net sales and market share gains. It averaged at least 20% sales growth per quarter over that period. It has raised its Fiscal 2024 outlook to maintain that continued momentum.
ELF share price is up 139% year todate. Can it go up further? It may at the current upward trajectory of sales and revenue. I will definitely put ELF on my watch list to invest for a long term hold. The future is definitely bright for such a wonderful company!
@Tiger_Earnings
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Tigers, what's your thought for these top movers?
Match Group's $Match(MTCH)$Q2 2023 earnings beat consensus revenues and showed impressive performance. Hinge, the relationship-focused dating app, drove significant growth, contributing around 16% of Match Group's total revenues with a 30% CAGR. Match's Q3 outlook points to around 10% Y/Y revenue growth, and Q4 2023 is expected to report 14% to 16% Y/Y growth. Match's potential for expanding its multiple is supported by improving profitability, projected 36%-37% adjusted operating income margins, and strong free cash flow, reducing leverage and improving the balance sheet.
๐ฏ๐ฏ๐ฏ Comment for ๐ฏ๐ชโฃ๏ธ Thanks loads @Tiger_Earnings for this update๐๐๐ Tinder seems to be really popularโฆmight consider๐ค
MTCH will be my pick (Long) Thinking it might be time for a small average push.
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Great ariticle, would you like to share it?