US Earnings

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Monday, February 26 – Workday, Li Auto), Domino’s Pizza, and Zoom Video.

Tuesday, February 27 – Lowe’s, American Tower, AutoZone, and eBay.

Wednesday, February 28 – Salesforce, Royal Bank of Canada, Baidu, HP, and Snowflake.

Thursday, February 29 – Anheuser-Busch InBev, Toronto-Dominion Bank, Dell Technologies, and Autodesk.

Friday, March 1 – Plug Power and fuboTV.

Nvidia Q4 FY24 results

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Investors will closely watch the results of artificial intelligence darling Nvidia, which is due to report on Wednesday.

Data center related product revenues make up 80.1% of the overall revenue mix. NVIDIA is trading at near-peak market capitalization levels at $1.8 trillion. However, its 1-yr fwd PE levels are near 5-yr trough levels at 36.8x.

NVIDIA’s has 2 key product segments: Graphics; which primarily relates to graphics processing units (GPU)s used in gaming, and PCs Compute & Networking; which includes chips used for high performance computing in data center, networking, automotive, robotics and also special-purpose cryptocurrency mining uses.

The key growth driver for the company right now is in the Compute & Networking segment, which has seen an explosion in growth:

US Earnings

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Tuesday, February 20 – Walmart, Home Depot, Caesars Entertainment, Palo Alto Networks, and Medtronic.

Wednesday, February 21 – Analog Devices, Nvidia, Etsy, Rio Tinto, Marathon Oil, Rivian Automotive, and Lucid Group.

Thursday, February 22 – PG&E, Dominion Energy, Moderna, Intuit, Booking Holdings, Wayfair, and Carvana.

Friday, February 23 – Warner Bros. Discovery, Bloomin’ Brands, and Ameren. 

Atlassian

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TEAM:NAS is under Algo Engine buy conditions.

First Quarter Fiscal Year 2024 Financial Highlights:
On a GAAP basis, Atlassian reported:

  • Revenue: Total revenue was $977.8 million for the first quarter of fiscal year 2024, up 21% from $807.4 million
    for the first quarter of fiscal year 2023.
  • Operating Loss and Operating Margin: Operating loss was $18.9 million for the first quarter of fiscal year
    2024, compared with operating loss of $34.0 million for the first quarter of fiscal year 2023. Operating
    margin was (2)% for the first quarter of fiscal year 2024, compared with (4)% for the first quarter of fiscal year
    2023.
  • Net Loss and Net Loss Per Diluted Share: Net loss was $31.9 million for the first quarter of fiscal year 2024,
    compared with net loss of $13.7 million for the first quarter of fiscal year 2023. Net loss per diluted share
    was $0.12 for the first quarter of fiscal year 2024, compared with net loss per diluted share of $0.05 for the first
    quarter of fiscal year 2023.
  • Balance Sheet: Cash and cash equivalents plus marketable securities at the end of the first quarter of fiscal
    year 2024 totaled $2.2 billion.

Financial Targets:
Atlassian is providing the following financial targets that do not include any impact from the Loom acquisition, which is
expected to close in the third quarter of its fiscal year 2024, subject to customary closing conditions and required
regulatory approval:
Second Quarter Fiscal Year 2024:

  • Total revenue is expected to be in the range of $1,010 million to $1,030 million.
  • Cloud revenue growth year-over-year is expected to be in the range of 25.5% to 27.5%.
  • Data Center revenue growth year-over-year is expected to be approximately 33%.
  • Gross margin is expected to be approximately 81.0% on a GAAP basis and approximately 83.5% on a nonGAAP basis.
  • Operating margin is expected to be approximately (7.5%) on a GAAP basis and approximately 21.0% on a nonGAAP basis.
    2
    Fiscal Year 2024:
  • Cloud revenue growth year-over-year is expected to be in the range of 25% to 30%.
  • Data Center revenue growth year-over-year is expected to be approximately 31%.
  • Gross margin is expected to be approximately 81.0% on a GAAP basis and approximately 83.5% on a nonGAAP basis.
  • Operating marg

Palantir

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PLTR:NYS shares were more than 30 per cent higher after the company reported big demand for its artificial intelligence technology and gave a higher-than-expected profit outlook for 2024.

Wedbush Securities called Palantir “an undiscovered gem and a core part of our thesis in the AI Revolution just now taking shape across the tech world”. Wedbush said it believes Palantir is on track to be included in the S&P 500.

FY 2023 Highlights

  • Revenue grew 17% year-over-year to $2.23 billion
  • Commercial revenue grew 20% year-over-year to $1.0 billion
    • US commercial revenue grew 36% year-over-year to $457 million
  • Government revenue grew 14% year-over-year to $1.2 billion
  • GAAP net income of $210 million, representing a 9% margin
  • GAAP income from operations of $120 million, representing a 5% margin
  • Cash from operations of $712 million, representing a 32% margin
  • Adjusted free cash flow of $731 million, representing a 33% margin
  • Adjusted income from operations of $633 million, representing a 28% margin