CFRA Reiterates Buy Opinion On Shares Of Netflix, Inc.

/ / Consumer Discretionary /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our target by $40 to $650 using a forward TEV/EBITDA of 29.7x, below the three-year historic average at 32.0x. We keep our EPS estimate at $17.05 in 2024 and $20.60 in 2025, both near consensus. On valuation, we are comfortable with a wider risk premium given NFLX is widening its lead over its competitors, in our opinion, and has new revenue streams (advertising, ad-pay plans, and paid share members) to spur growth. We believe NFLX has a best-in-class technology platform, programming, and global distribution. The company never stops innovating and management is disciplined with a $17B programming and content annual budget. NFLX has a major opportunity as TV viewers shift to streaming from linear networks, while most of its direct competitors have to transition from […]

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Marvell Technology Guides For Q1 EPS of $0.18-$0.28 on Revenue of $1.15 Billion, +/-5%, Vs CIQ Analyst Consensus of $0.40/Share on Revenue of $1.37 Billion

/ / Technology /

Marvell Technology Guides For Q1 EPS of $0.18-$0.28 on Revenue of $1.15 Billion, +/-5%, Vs CIQ Analyst Consensus of $0.40/Share on Revenue of $1.37 Billion。

Marvell Technology Guides For Q1 EPS of $0.18-$0.28 on Revenue of $1.15 Billion, +/-5%, Vs CIQ Analyst Consensus of $0.40/Share on Revenue of $1.37 Billion Read Post »

Broadcom Inc. Announces First Quarter Fiscal Year 2024 Financial Results and Quarterly Dividend

/ / Technology /

Broadcom Inc. Announces First Quarter Fiscal Year 2024 Financial Results and Quarterly Dividend PR Newswire PALO ALTO, Calif., March 7, 2024 — Revenue of $11,961 million for the first quarter, up 34 percent from the prior year period — Cash from operations of $4,815 million for the first quarter, less capital expenditures of $122 million, resulted in $4,693 million of free cash flow, or 39 percent of revenue — GAAP net income of $1,325 million for the first quarter; Non-GAAP net income of $5,254 million for the first quarter — Adjusted EBITDA of $7,156 million for the first quarter, or 60 percent of revenue — GAAP diluted EPS of $2.84 for the first quarter; Non-GAAP diluted EPS of $10.99 for the first quarter — Quarterly common stock dividend of $5.25 per share — Repurchased and eliminated 7.7 million shares for $8,290 million — Fiscal 2024 annual revenue guidance of approximately

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Broadcom Reports Strong Earnings. The Stock Still Drops. — Barrons.com

/ / Technology /

By Tae Kim Broadcom stock fell after the chip maker’s solid earnings results failed to satisfy investors. On Thursday, the semiconductor company reported adjusted earnings per share of $10.99 for the fiscal first quarter, topping the Wall Street consensus for $10.40 a share. Revenue came in at $11.96 billion, above expectations of $11.8 billion, according to FactSet. Broadcom also gave full-year revenue guidance of $50 billion, which is roughly inline with the Street consensus of $49.8 billion. The chip maker’s stock traded down 3% shortly after the release Thursday. This is breaking news. Read a preview of Broadcom earnings below and check back for more analysis soon. Chip investors are eager to hear the latest commentary from Broadcom about progress in its AI semiconductor business. Wall Street consensus estimates are for the company to report January quarter revenue of $11.8 billion with adjusted earnings per share of $10.40. Analyst estimates

Broadcom Reports Strong Earnings. The Stock Still Drops. — Barrons.com Read Post »

Broadcom 1Q Revenue Surges on Artificial Intelligence Demand

/ / Technology /

By Ben Glickman Broadcom’s revenue rose more than expected in the fiscal first quarter as artificial intelligence continued to boost demand. The Palo Alto, Calif.-based semiconductor company reported a profit of $1.33 billion, or $2.84 a share, in the quarter ended Feb. 4, compared with $3.77 billion, or $8.80 a share, a year earlier. Analysts polled by FactSet expected per-share earnings of $7.94. Stripping out certain one-time items, adjusted per-share earnings came to $10.99, ahead of the $10.40 forecast by analysts, according to FactSet. Revenue rose 34% to $11.96 billion, beating the $11.79 billion expected by analysts polled by FactSet. Chief Executive Hock Tan said the company’s acquisition of VMware and strong demand for networking products in artificial intelligence data centers were both driving growth. Write to Ben Glickman at ben.glickman@wsj.com

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DocuSign Fiscal Q4 Non-GAAP Earnings, Revenue Rise; Fiscal 2025 Guidance Set; Shares Jump

/ / Technology /

DocuSign (DOCU) reported fiscal Q4 non-GAAP earnings late Thursday of $0.76 per diluted share, up from $0.65 a year earlier. Analysts surveyed by Capital IQ expected $0.65. Revenue for the quarter ended Jan. 31 was $712.4 million, up from $659.6 million a year earlier. Analysts surveyed by Capital IQ expected $699.4 million. The company said it expects fiscal Q1 revenue of $704 million to $708 million. Analysts surveyed by Capital IQ expect $700.1 million. DocuSign expects fiscal year 2025 revenue of $2.92 billion to $2.93 billion. Analysts surveyed by Capital IQ expect $2.90 billion. Shares of the company jumped more than 12% in after-hours trading.

DocuSign Fiscal Q4 Non-GAAP Earnings, Revenue Rise; Fiscal 2025 Guidance Set; Shares Jump Read Post »

Costco Slips 5.2% as Q2 Revenue Misses Estimates Despite E-Commerce Strength

/ / Consumer Discretionary /

Costco (COST) shares slipped 4.7% in after-market trading as the company reported revenue that fell short of estimates in the fiscal second quarter despite booming e-commerce sales. The big-box retail giant’s profit rose to $1.74 billion, or $3.92 a share, for the quarter ended Feb. 18, from $1.47 billion, or $3.30 a share, in the prior-year quarter. Analysts polled by FactSet expected per-share earnings of $3.61. Revenue rose 5.7% to $58.44 billion, falling short of the $59.11 billion expected by analysts polled by FactSet. Comparable sales for the quarter were up 5.6% for the company, with a 4.3% increase in the U.S. offsetting higher comparable sales growth in Canada and other international. E-commerce comparable sales increased 18% in the quarter.

Costco Slips 5.2% as Q2 Revenue Misses Estimates Despite E-Commerce Strength Read Post »

Costco Fiscal Q2 EPS, Net Sales Increase

/ / Consumer Discretionary /

Costco Wholesale (COST) reported fiscal Q2 earnings late Thursday of $3.92 per diluted share, up from $3.30 a year earlier. Analysts polled by Capital IQ expected $3.61. Net sales for the quarter were $58.44 billion, up from $55.27 billion a year earlier. Analysts surveyed by Capital IQ expected $59.13 billion. Costco shares fell past 4% in after-hours trading.

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