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Top movers | PINS, ANET Jump on Positive Outlook; WDC Plans to Separate Business
@Tiger_Earnings:1. $Pinterest, Inc.(PINS)$ soars 15.86% after impressive Q3 earnings beat and upbeat Q4 outlook Pinterest jumped 15% after Q3 earnings beat on the top and bottom lines. Revenue: $763.2 mln vs. $743.5 mln expected Adjusted EPS: 28 cents vs. 20 cents expected Revenue unexpectedly achieved double-digit growth of 11%, beating its own estimates of “mid-single digits”. For the fourth quarter, Pinterest said it expects revenue growth of 11% to 13%, higher than analyst estimates of 11.3% Last week, $Meta Platforms, Inc.(META)$ and $Snap Inc(SNAP)$ plunged after earnings as they were pessimistic about Q4 guidance, citing the effects of conflicts. 2. $Arista Networks(ANET)$: strong AI demand leads to stellar Q3 earnings; Bullish Q4 revenue forecast Adjusted EPS: $1.83, beating estimates of $1.58. Revenue climbed to $1.51 bln, surpassing expectations of $1.48 bln. The company provided a positive outlook for the future, projecting Q4 revenue of $1.5 to $1.55 billion, surpassing expectations of $1.47 billion. Arista Networks' CEO highlighted the company's strong customer momentum in both enterprise and cloud/AI sectors. 3. $Western Digital(WDC)$ beats earnings estimates and announces business separation Western Digital's was up 7.26% after its quarterly earnings exceeded expectation. Adjusted EPS: -$1.76 vs. -$1.91 Sales: $2.75 bln vs. $2.66 bln The company also announced its decision to separate its flash-memory and traditional hard-drive businesses into two independent public companies. This move followed the end of merger talks with Kioxia Holdings, a memory chip manufacturer. However, Western Digital Corporation fell 5% after the bell.
Top movers | PINS, ANET Jump on Positive Outlook; WDC Plans to Separate BusinessDisclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.