Earnings Movers| U & RBLX Jumped After Revenue Beat; DM & TEVA Dipped 10%
US stock market didn’t exprience much volatility after the release of better-than-expected CPI. There are four companies, however, popped or dipped yesterday. They are $Unity Software Inc.(U)$, $Roblox Corporation(RBLX)$, $Desktop Metal Inc.(DM)$ and $Teva Pharmaceutical(TEVA)$ .
1. $Unity Software Inc.(U)$ +9.12% as it beat revenue and offered rosy guidance
Unity Software, video game software developer, popped 9% after the company released first-quarter earnings that beat analysts’ expectations for revenue and offered rosy guidance.
Its revenue for the quarter was up 56% year over year.
EPS: -67 cents, not comparable to estimates
Revenue: $500 mln vs. $480 mln expected by analysts
Guidance: $510 mln - $520 mln vs. $509 mln
Unity said it expects to report $510 million to $520 million in second-quarter revenue, above analyst estimates of $509 million. The company said it increased the low-end of its revenue guide after considering its “stronger than expected” first quarter.
2. $Roblox Corporation(RBLX)$ +7.41% on revenue beat
Roblox rose around 7% after the video game company reported mixed first-quarter results.
Roblox beat analyst expectations on the top line but reported a wider-than-expected loss per share of 44 cents. Engagement hours and daily active users (DAUs) both saw double-digit percentage growth year-over-year.
EPS: - 44 cent vs. -40 cent loss expected
Revenue (bookings): $774 mln vs. $766 mln expected
3. $Desktop Metal Inc.(DM)$ -10% after it missed on revenue
Desktop Metal came out with a quarterly loss of $0.08 per share in line with the estimate. This compares to loss of $0.14 per share a year ago. These figures are adjusted for non-recurring items.
Revenue was $41.32 million for the quarter ended March 2023, missing the estimate by 13.84%. This compares to year-ago revenues of $43.71 million.
EPS: - $0.08, in line with the estimate
Revenue: $41.32 mln, missing the estimate by 13.84%
4. $Teva Pharmaceutical(TEVA)$ -8.29% as it missed EPS
Generic drugs Teva Pharmaceutical reported light profit and flat sales Wednesday, and TEVA stock tumbled -9%.
During the March quarter, Teva earned an adjusted 40 cents per share on $3.66 billion in sales. Teva's earnings toppled 27% year over year and lagged expectations for 56 cents a share. Sales were flat, though topped forecasts for $3.62 billion, according to FactSet.
Adjusted EPS: 40 cents vs. 56 cents
Sales: $3.66 bln vs. $3.62 bln
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