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- Third-quarter earnings seasons is almost wrapped up, with the vast majority of S&P 500 companies have reported as of the beginning of November, according to Bank of America Merrill Lynch.
- Earnings results are pointing to an overall 2% bottom-line beat for quarter, BAML’s analysts wrote in note to clients on November 3.
- Here are five of the biggest winners and losers from the third-quarter earnings season.
- Visit the Business Insider homepage for more stories.
With earnings season winding down, Markets Insider took a look at some of biggest winners and losers from the third quarter now that the vast majority of companies have reported.
According to analysts from Bank of America Merrill Lynch, overall S&P 500 earnings will come in about 2% above estimates.
“While still below peak levels, corporate margins have remained resilient despite tariffs and wage inflation,” the firm wrote in a note to clients on November 3.
Investors and analysts have likely been looking for signs of a slowing economy in the form of pressured earnings as uncertainty around the US-China trade war and global growth concerns persisted throughout the quarter.
UBS expects an earnings recession could be on the horizon amid a cloudy macroeconomic backdrop. The firm wrote in a note to clients on Tuesday that the year-over-year growth rate for S&P 500 forward earnings has fallen to less than 1%, from 23% about 14 months ago.
Markets Insider compiled a list of companies that posted strong single-day share gains following their earning’s releases, in addition to stocks that plunged after disappointing results.
Here are five of the biggest winners and losers from the third-quarter earnings season. Each group is listed in increasing order of single-day stock move:
Winner #5: Netflix
Netflix
Ticker: NFLX
Single-day stock move: 11%
Key numbers from Netflix third-quarter earnings:
- Revenue: $5.244 billion, compared to $5.248 billion expected by analysts
- Earnings per shares: $1.47, versus $1.04 forecasted by analysts
- Net income: $665 million, compared to $573.75 million estimated by analysts
- Net international subscriber additions: 6.26 million, compared to 6 million estimated by analysts
- Net subscriber additions: 6.8 million, compared to the range of 6.8 million to 7 million expected by Wall Street
Winner #4: Kraft Heinz
Scott Olson / Getty Images
Ticker: KHC
Single-day stock move: 11.8%
Key numbers from Kraft Heinz’s third-quarter earnings:
- Revenue: $6.08 billion, versus the $6.13 billion estimate
- Adjusted earnings per share: 69 cents, versus the 53 cents estimate
Winner #3: General Electric
AP Images / Richard Drew
Ticker: GE
Single-day stock move: 14%
Key numbers from General Electric third-quarter earnings:
- Revenue: $23.36 billion reported versus $28.77 billion (expected)
- Earnings per share: 15 cents reported versus 12 cents (expected)
Winner #2: Spotify
AP Photo/Richard Drew
Ticker: SPOT
Single-day stock move: 19%
Key numbers from Spotify third-quarter earnings:
- Revenue: 1.73 billion euros, versus the 1.72 billion euro estimate
- Adjusted earnings per share: 0.36 euros, versus the -0.182 euro estimate
- Operating profit: 54 million euros, versus the -23.5 million euro estimate
- Monthly active users: 248 million, versus the 243.4 million estimate
Winner #1: Tesla
Zhang Peng / Getty Images
Ticker: TSLA
Single-day stock move: 20%
Key numbers from Tesla third-quarter earnings:
- Earnings per share: $1.86, versus the -$0.24 estimate
- Revenue: $6.30 billion, versus the $6.45 billion estimate
- Gross margin: 18.9%, versus the 17.7% estimate
- Q3 vehicle deliveries: 97,000, versus an estimated 95,000 to 100,000
Loser #5: McDonald’s
Anton NovoderezhkinTASS via Getty Images
Ticker: MCD
Single-day stock move: (-4%)
Key numbers from McDonald’s third-quarter earnings:
- Revenue: $5.43 billion, compared to $5.48 billion expected by analysts
- Earnings per share: $2.11, versus $2.21 estimated by analysts
- Net income: $1.61 billion, versus $1.69 billion forecasted by analysts
Loser #4: Uber
Johannes Eisele/Contributor/Getty
Ticker: UBER
Single-day stock move: (-7.4%)
Key numbers from Uber third-quarter earnings:
- Earnings: -68 cents per share versus -63 cents per share (expected)
- Revenue: $3.8 billion versus $3.4 billion (expected)
- Net income: -$1.1 billion, in line with expectations
Loser #3: Shake Shack
John Locher/AP
Ticker: SHAK
Single-day stock move: (-19%)
Key numbers from Shake Shack third-quarter earnings:
- Earnings per share: $0.26, adjusted, versus $0.20 (expected)
- Revenue: $157.8 million, versus $157.9 million (expected)
- Same-store sales growth: 2%, versus 2.9% (expected)
Loser #2: Pinterest
Reuters
Ticker: PINS
Single-day stock move: (-24%)
Key numbers from Pinterest’s third-quarter earnings:
- Revenue: $279.7 million reported versus $282.1 million (expected)
- Earnings per share: 1 cent, excluding some items, reported, versus -4 cents (expected)
