Last week was a busy one for US Markets as a number of listed companies such as tech giants; Alphabet, Apple, Facebook and Microsoft which all released their respective financial results.. Here is a brief on the numbers;
US Markets Earnings
Microsoft published its financial results for the fourth fiscal quarter ending on June 30, 2021, on Tuesday with revenueincreasing by 21% to $46.2 billion, exceeding analyst estimates. The company’s net income rose by 47% year-on-year to $16.5 billion.
For the yearly results of the fiscal year 2021, Microsoft’s revenue rose by 18% to $168.1 billion, while the net income grew by 38% to $61.3 billion, compared to the 2020 financial results.
Tesla on Monday last week published its earnings report for the second quarter with revenue marking a growth of 98% to $11.9 billion.
“We produced and delivered over 200,000 vehicles, achieved an operating margin of 11.0% and exceeded $1B of GAAP net income for the first time in our history. Supply chain challenges […] continued to be present in Q2. The Tesla team, including supply chain, software development and our factories, worked extremely hard to keep production running as close to full capacity as possible,” Tesla’s official release noted.
Total production of electric vehicles in the second quarter amounted to 206,421, which is 151% higher than during the comparable period of 2020.
Google’s parent’ firm Alphabet Inc. on Tuesday last week reported that its revenue for the second quarter surged 62% to $61.88 billion. Its operating income gained 31% to $19.4 billion, while its net income climbed 166% to $18.5 billion, or $27.26 per diluted share.
Per segment, Google Search & other revenue rose 68.1% to $35.8 billion, while Google Cloud surged 53.9% to $4.6 billion.
“In Q2, there was a rising tide of online activity in many parts of the world, and we’re proud that our services helped so many consumers and businesses. Our long-term investments in AI and Google Cloud are helping us drive significant improvements in everyone’s digital experience,” CEO Sundar Pichai commented.
Starbucks Corporation reported on Tuesday that its consolidated net revenue was at $7.5 billion in the third trimester, soaring 77.6% on an annual basis to top estimates.
The company’s global comparable store sales surged by 73% as Americas comparable store sales rocketed 84% annually. Operating income soared 74%, to reach $216 million in the quarter ending June.
Mastercard unveiled on Thursday that its revenue for the second quarter of the year stood at $4.5 billion, marking a 36% increase when compared to the same period last year.
Michael Miebach, Mastercard CEO, commented on the report: “We delivered solid revenue and earnings growth this quarter, fueled by the execution of our strategy and the continued recovery in domestic and cross-border spending. International travel is still in the early stages of recovery and represents additional upside potential.”
Apple said on Tuesday its revenue in the third quarter of its fiscal 2021 amounted to $81.4 billion, climbing 36% year on year and topping estimates.
“This quarter, our teams built on a period of unmatched innovation by sharing powerful new products with our users, at a time when using technology to connect people everywhere has never been more important,” CEO Tim Cook stated.
Airbus SE announced on Thursday its revenue in the second quarter of 2021 came in at €14.18 billion, a growth of 70% . The company’s net income improved from the loss of €1.438 billion reported the year before to €1.869 billion.
In the first half of the year, the company grossed €24.6 billion, 30% more than in the same period last year.
Samsung Electronics operating profit in the second quarter of 2021 landed at $10.92 billion, a growth of 54.26 percent.
For the three months through June, the South Korean tech giant booked a net profit of $8.37 billion, which is 73.4% more on an annual basis. Total sales surged to $55.34 billion from 2020’s $44.54 billion, marking a 20.2% increase, the strongest for any second quarter on record.
Paypal online payment service reported its financial results for the second fiscal quarter of 2021 on Wednesday marking a revenue of $6.24 billion, 17% higher than in the comparable period of last year.
Total payment volume added 40% compared to the same period of last year and amounted to $311 billion. PayPal’s net income stood at $1.18 billion, up 23% from last year’s second quarter.
Ford Motor Co. reported on Wednesday its revenue in the second fiscal quarter grew by 38% year-on-year to $26.75 billion. Total costs and expenses increased 21% to $26.77 billion. Net income was down 50% at $553 million.
The automaker sold 764,000 cars globally, although its market share dropped 0.9 percentage points on a yearly basis to 4.9%. All regions except China reported an increase in revenue.
Facebook said on Wednesday its revenue in the second quarter of 2021 stood at $29.1 billion, surging 56% compared to the same quarter in 2020.
Net income soared 101% year on year to $10.4 billion. Daily active users (DAUs) climbed 7% to 1.91 billion on average for June 2021 and monthly active users (MAUs) also rose by 7% to 2.90 billion at the end of June.
French luxury goods giant LVMH Moet Hennessy Louis Vuitton revenue in the first half of 2021 surged 56% on the year to €28.7 billion as sales recovered from the lows observed during the COVID-19 pandemic.
Meanwhile, LVMH’s financial update revealed revenue in the company’s largest unit, Fashion & Leather Goods, soared 81% compared to 2020, reaching a record high of €13.8 billion.
“LVMH has enjoyed an excellent half-year and is reaping the benefits of having continued to innovate and invest in its businesses throughout the pandemic despite being in the midst of a global crisis,” LVMH Chairman and CEO Bernard Arnault commented on the company’s results.
Spotify Technology S.A. reported on Wednesday that its number of total monthly active users (MAU) for the second quarter of the year increased 22% year-over-year reaching 365 million, but falling below the company’s projections.
For the entire quarter, a total of 9 million MAUs were added, driving double-digit yearly growth in all regions. When it comes to premium subscribers, 7 million premium subscribers were added which constitutes a per annum growth of 20%, bringing the total number of premium subscribers to 165 million.
Total revenue grew 23% when compared to the same period last year to €2.33 billion. Premium revenue increased by 17% year-over-year to €2.05 billion, while Ad-supported revenue skyrocketed to €275 million for a yearly gain of 110%.
Nissan Motor Company Ltd. stated on Wednesday that its consolidated net revenue for the first quarter of fiscal 2021 stood at ¥2.008 trillion ($18.26 billion), marking a 71% surge compared to the same period a year prior.
Consolidated operating income came in at ¥75.7 billion ($690 million) in the quarter ending June as opposed to a loss of ¥153.9 billion ($1.4 billion) registered the year prior.
The automaker’s net income climbed to ¥90.3 billion ($820 million) in the year’s first trimester from the loss of ¥232.3 billion ($2.11 billion) seen the previous year. Nissan’s diluted earnings per share came in at ¥29.26 ($0.27).
Barclays reports Q2
British bank Barclays plc announced on Wednesday second-quarter income of £5.4 billion, up just 1% compared to the same three-month period a year earlier. Meanwhile, the lender’s first half results revealed a 3% increase in income on the year to £11.3 billion.
Visa said on Tuesday its revenue in the third quarter of fiscal 2021 amounted to $6.1 billion, climbing 27% compared to the same period a year earlier and topping analysts’ estimates.
GAAP net income rose 9% year on year to $2.6 billion, while GAAP earnings per share (EPS) increased 10% to $1.18. Adjusted net income surged 39% to $3.3 billion, or $1.49 per share.
“Visa delivered another strong quarter as many key economies are well into a reopening-driven recovery. This was best demonstrated by credit and face-to-face spending bouncing back while debit and eCommerce volumes remained robust from accelerated cash digitization sparked by the pandemic,” CEO Alfred Kelly Jr. stated.
Robinhood Markets Inc., the company behind the popular stock trading app, made its public debut on the Nasdaq on Thursday trading under the ticker HOOD at $38 per share, right in line with its IPO price for a market capitalization of $32 billion.
Robinhood Markets Inc. said on Saturday that 301,573 of its users bought the company’s shares in the app’s initial public offering (IPO).
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