Shares of Amazon fell after it missed estimates for second quarter revenue. Additionally, the company issued a weaker-than-expected forecast for its current period and its advertising numbers came up short. “Personally, when you look at the entire report, I think a pullback is a buying opportunity,” said Wedbush Securities analyst Scott Devitt about Amazon’s results. “I think the strength in AWS overwhelms the advertising. But if I’m being transparent about it, the advertising is not a good number relative to expectations.”
CNBC Overtime
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The sharpest analysis of markets and companies from experts who know the data. Closing Bell: Overtime with Jon Fortt and Morgan Brennan airs at 4pm ET on CNBC.
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CNBC Overtime reposted this
CNBC Anchor + Fortt Knox Host + On the Other Hand + Time Out + The Black Experience in America: The Course
I speak with Lightspeed Commerce CEO Dax Dasilva about the company's latest results.
Dax Dasilva, Lightspeed CEO: Fortt Knox Earnings
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ARM and Qualcomm shares moving in opposite directions after the chipmakers reported earnings, despite both names beating on the top and bottom lines. Ben Bajarin of Creative Strategies, Inc. - Consumer Tech Research joined CNBC Overtime to break down the reports.
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Shares of Meta rallied after reporting a beat on earnings and revenue for its second quarter results. The company issued a better-than-expected forecast for the third quarter. “People came away from this thinking ‘yeah, Meta is in a very good place in terms of being able to generate premium ad revenue growth for the foreseeable future,’” said Evercore ISI Head of Internet Research Mark Mahaney. “The growth rate for Meta relative to its peers out there they’re kind of really nicely outpacing those of its peers,” said CFRA Research senior equity analyst Angelo Zino.
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CNBC Overtime reposted this
CNBC Anchor + Fortt Knox Host + On the Other Hand + Time Out + The Black Experience in America: The Course
I speak with Informatica CEO Amit Walia about earnings results, including a transition in the professional services business that make the top-line revenue number look like a miss while the core software business outperformed.
Amit Walia, Informatica CEO: Fiscal Q2 2024 Earnings
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JetBlue shares soared today after the carrier posted a surprise profit for the second quarter. ”Q2 is largely a reflection on great execution on the part of the team…we’ve made some adjustments into our network and I think we're seeing some early results there,” said CEO Joanna Geraghty.
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Shares of Microsoft fell after missing estimates for Azure cloud growth. Gil Luria, senior software analyst at D.A. Davidson Companies, said guidance is “extraordinarily important.” “We’re going to learn if the company intends to increase capex even more as its revenue decelerates and the capex creates margin pressures,” said Luria. Despite the disappointing Azure numbers, Microsoft is in a “league of their own,” said RBC Capital Markets managing director Rishi Jaluria. “If we do the math around that eight percent Azure AI contribution,” said Jaluria, “it is a very, very impressive number.”
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CNBC Overtime reposted this
CNBC Anchor + Fortt Knox Host + On the Other Hand + Time Out + The Black Experience in America: The Course
I speak with Commvault CEO Sanjay Mirchandani about the company's fiscal Q1 2025 earnings.
Sanjay Mirchandani, Commvault CEO: Fortt Knox Earnings
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The crypto community rejoiced over the weekend after former president Donald Trump pledged to build a strategic bitcoin stockpile while speaking at the Bitcoin 2024 Conference. Despite the buzz, crypto traded lower today. Jeffrey deGraaf, CMT, CFA, chairman and head of technical research at RenMac, shares his technical view on bitcoin.