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

US Earnings

Posted on | by Leon Hinde | Leave a Comment on US Earnings

Monday, February 5 – McDonald’s, Caterpillar, Vertex Pharmaceuticals, Tyson Foods, NXP Semiconductors, and Estee Lauder.

Tuesday, February 6 – Eli Lilly, Toyota Motor, Centene, Amgen, Ford Motor, and BP. 

Wednesday, February 7 – Alibaba, CVS Health, Fox Corporation, McKesson, Disney, Uber Technologies, and PayPal.

Thursday, February 8 – ConocoPhillips, Philip Morris, Duke Energy, Expedia, Take-Two Interactive, Pinterest, and Kenvue.

Friday, February 9 – PepsiCo, Newell Brands, and AMC Networks.

Mega-cap US tech: Earnings Analysis

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Mega-cap US tech stocks Microsoft, Alphabet, Amazon, and Meta all reported this week.

Reneue scoreboard: Year-over-year growth Microsoft +18%, Meta +16%, Amazon +12%, Alphabet +9%.

Microsoft

Alphabet

Meta delivered an incredible Q4 2023, generating $5.33 in GAAP EPS and $40.11 billion in revenue. META beat on the top and bottom lines, announced a $50 billion buyback authorization, and implemented a dividend program.

Amazon: Fourth Quarter 2023

  • Net sales increased 14% to $170.0 billion in the fourth quarter, compared with $149.2 billion in fourth quarter 2022.
  • Full Year 2023 Net sales increased 12% to $574.8 billion in 2023, compared with $514.0 billion in 2022.
  • North America segment sales increased 12% year-over-year to $352.8 billion.
  • International segment sales increased 11% year-over-year to $131.2 billion.
  • AWS segment sales increased 13% year-over-year to $90.8 billion.
  • Operating income increased to $36.9 billion in 2023, compared with $12.2 billion in 2022.
  • AWS segment operating income was $24.6 billion, compared with operating income of $22.8 billion in 2022.
  • Net income was $30.4 billion in 2023, or $2.90 per diluted share, compared with a net loss of $2.7 billion, or $0.27 per diluted share, in 2022.
  • Free cash flow improved to an inflow of $36.8 billion for the trailing twelve months, compared with an outflow of $11.6 billion for the trailing twelve months ended December 31, 2022.