Netflix: ‘ We Expect Healthy Double Digit Revenue Growth for the Full Year 2024 on a F/X Neutral Basis Driven by Continued Membership Growth as Well as Improvement in F/X Neutral ARM as We Adjust Prices’
Netflix Increases 2024 Operating Margin Forecast From 22-23% To 24% Read Post »
Streaming giant Netflix Inc (NASDAQ:NFLX) reported fourt- quarter financial results after the market close Tuesday. Here are the key highlights. What Happened: Netflix reported fourth-quarter revenue of $8.83 billion, which was up 12.5% year-over-year. The total came in ahead of a Street consensus estimate of $8.72 billion, according to data from Benzinga Pro. The company reported fourth-quarter earnings per share of $2.11, which missed a Street consensus estimate of $2.21. Netflix ended the fourth quarter with 260.28 million global paid members, which was up 12.8% year-over-year. The company added 13.12 million net paid subscribers in the fourth quarter. What’s Next: The company said it will continue to invest and build out its ad-supported platform, which it said is not a “primary driver” of revenue growth as of now. “Our aim is to make ads a more substantial revenue stream that contribute to sustained, healthy revenue growth in 2025 and beyond.” The company is forecasting
ASML Holding NV (NASDAQ:ASML) will be reporting its fourth-quarter earnings on Jan. 24. Wall Street expects $5.27 in EPS and $7.53 billion in revenues as the company reports before market hours. ASML is a semiconductor production equipment (SPE) manufacturer. It is known for being a leading supplier of photolithography equipment used in the semiconductor industry. The company specializes in producing advanced lithography machines. These play a crucial role in the production of integrated circuits (ICs) and other semiconductor devices. The stock has gained just 14.60% over the past year. It has vastly underperforming SPE peers such as Applied Materials Inc (NASDAQ:AMAT) at 46.02%, Lam Research Corporation (NASDAQ:LRCX) a 69.07% and KLA Corp (NASDAQ:KLAC) at 45.64%. The ASML Analyst: Cantor Fitzgerald analyst C.J. Muse has an Overweight rating on the stock with a price target of €900 (~$977.23) a share. At the time of review, the stock traded at €745 (~$808.93), representing a 21% upside potential. The ASML Thesis: ASML faced significant underperformance in 2023.
The following is a summary of the Texas Instruments Incorporated (TXN) Q4 2023 Earnings Call Transcript: Financial Performance: Texas Instruments reported a Q4 revenue of $4.1 billion, marking a decrease of 10% sequentially and 13% from the same quarter a year ago. Gross profit was $2.4 billion, or 60% of revenue; the profit margin was down 650 basis points due to lower revenue and higher manufacturing costs. Operating profit amounted to $1.5 billion, or 38% of revenue, marking a 30% decline from the year-ago quarter. The company reported Q4 net income of $1.4 billion and earnings per share of $1.49. Expected revenue for Q1 2024 is between $3.45 billion and $3.75 billion and earnings per share between $0.96 and $1.16. Business Progress: Despite a decline in industrial and automotive revenues in Q4, these sectors combined made up 74% of TI’s revenue in 2023. The company has focused on opportunities in
Texas Instruments Incorporated (TXN) Q4 2023 Earnings Call Transcript Summary Read Post »
+12.35% The following is a summary of the Netflix, Inc. (NFLX) Q4 2023 Earnings Call Transcript: Financial Performance: Netflix reported a 70% quarter-on-quarter growth in its ads business over the last three quarters, totaling 23 million MAUs, with plans for continued growth. Cash balance over $7 billion at the end of 2023 with a projected $6 billion build in cash flow for 2024. Plans to increase content spend to as much as $17 billion, maintaining healthy revenue growth and growing profit and profit margins. Netflix expects healthy double-digit FX-neutral revenue growth for 2024, powered by member growth and full-year impact of 2023 net adds. Achieved 13% FX-neutral revenue growth in Q4 in the EMEA region. The company plans to return excess cash to shareholders via buybacks. Business Progress: Integration of pay sharing product has been successful and is expected to drive growth going forward. It’s venturing into different segments with
Netflix, Inc. (NFLX) Q4 2023 Earnings Call Transcript Summary Read Post »
The following is a summary of the Intuitive Surgical, Inc. (ISRG) Q4 2023 Earnings Call Transcript: Financial Performance: Intuitive Surgical reported overall procedure growth for full year 2023 was 22% year-over-year. Full year 2023 pro forma gross profit margin reported at 68%. In 2023, pro forma operating expenses grew 14%. In 2024, predicted to grow between 11% and 15%. Full year revenue for 2023 was $7.1 billion, 14% growth over 2022, with Q4 revenue of $1.93 billion, an increase of 17% from last year. The company reported 4Q GAAP net income of $606 million, up from $325 million in the fourth quarter of 2022. Full year procedures grew by 22% with 1,370 systems placed with customers, up 8% year-over-year. Business Progress: Strong procedure growth in the US and outside, predominantly within general surgery including cholecystectomy, colon resection and foregut procedures. Fourth quarter 2023 saw 70 systems placed in Japan, reflecting
Intuitive Surgical, Inc. (ISRG) Q4 2023 Earnings Call Transcript Summary Read Post »
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We up our 12-month target to $172 from $157, on P/E of 24x our ’25 EPS view, near five-year historical forward average. We reduce our ’24 EPS estimate to $5.75 from $7.05 and ’25 to $7.15 from $7.83. TXN posts Q4 EPS of $1.46 vs. $2.13, missing the $1.49 consensus. Sales fell 13% (-10% seq.) while Q1 guide was disappointing (implies 12% seq. drop), both missing expectations, hurt by pronounced weakness from industrial customers and a sequential decline in automotive. Gross margin of 59.6% was narrower than our view, compressing vs. 66.1% a year ago and 62.1% in Q3, hurt by lower volume and utilization. Although we believe customers are rebalancing inventories within autos/industrials (cancellations remain elevated), visibility surrounding the trajectory of a recovery remains low. Still,
CFRA Maintains Hold Opinion On Shares Of Texas Instruments Incorporated Read Post »
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 price to $380 from $355, 51.0x our 2025 EPS estimate, above ISRG’s 10-year historical forward average. We keep our 2024 EPS view at $6.55 and initiate our 2025 EPS view at $7.45. Da Vinci procedures grew by a remarkable 22% Y/Y in 2023, in line with preannounced results on Jan. 9 but slightly above our earlier expectation of 21.5% due to high growth in U.S. general surgeries and cancer procedures internationally. ISRG posted Q4 EPS of $1.60 versus $1.23, a noteworthy +30% Y/Y, exceeding the consensus and our estimate by $0.11, driven by robust worldwide Da Vinci procedure growth of 21% Y/Y during the quarter. Q4 revenues of $1.93B came in line with our expectations, up +17% Y/Y as procedure volume continued to
CFRA Lowers Opinion On Shares Of Intuitive Surgical, Inc. To Hold From Buy Read Post »
2024 expected to be a transition year with sales similar to 2023 VELDHOVEN, the Netherlands, January 24, 2024 — Today, ASML Holding NV (ASML) has published its 2023 fourth-quarter and full-year results. — Q4 net sales of EUR7.2 billion, gross margin of 51.4%, net income of EUR2.0 billion — Quarterly net bookings in Q4 of EUR9.2 billion2 of which EUR5.6 billion is EUV — 2023 net sales of EUR27.6 billion, gross margin of 51.3%, net income of EUR7.8 billion — ASML expects 2024 net sales to be similar to 2023 — ASML expects Q1 2024 net sales between EUR5.0 billion and EUR5.5 billion and a gross margin between 48% and 49% (Figures in millions of euros unless otherwise indicated) Q3 2023 Q4 2023 FY 2022 FY 2023
ASML Reports EUR27.6 Billion Net Sales and EUR7.8 Billion Net Income in 2023 Read Post »
“We expect first-quarter net sales between €5.0 billion and €5.5 billion with a gross margin between 48% and 49%. ASML expects R&D costs of around €1,070 million and SG&A costs of around €300 million. In spite of the positive signs as described above, we maintain our conservative view for the total year and expect 2024 revenue to be similar to 2023. We also expect 2024 to be an important year to prepare for significant growth that we expect for 2025,” said ASML President and Chief Executive Officer Peter Wennink.
Texas Instruments (NASDAQ:TXN) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/24/2024 19.25% Keybanc $180 → $200 Maintains Overweight 01/23/2024 13.29% Rosenblatt → $190 Reiterates Buy → Buy 01/23/2024 7.33% Cantor Fitzgerald → $180 Initiates Coverage On → Neutral 01/19/2024 16.27% UBS $170 → $195 Upgrades Neutral → Buy 01/16/2024 -4.6% Barclays $165 → $160 Maintains Equal-Weight 12/14/2023 -8.17% Truist Securities $150 → $154 Maintains Hold 11/15/2023 25.22% Benchmark → $210 Reiterates Buy → Buy 10/25/2023 -4.6% B of A Securities → $160 Maintains Neutral 10/25/2023 -4.6% Stifel $180 → $160 Maintains Hold 10/25/2023 16.27% BMO Capital → $195 Maintains Outperform 10/25/2023 -22.49% Baird $180 → $130 Maintains Neutral 10/25/2023 -15.33% Citigroup $182 → $142 Maintains Neutral 10/25/2023 1.37% JP Morgan $200 → $170 Maintains Overweight 10/25/2023 -10.56% Truist Securities $165 → $150 Maintains Hold 10/25/2023 -4.6% Mizuho $181 → $160 Maintains
Texas Instruments (NASDAQ:TXN) Stock Analyst Ratings Read Post »
Verizon Communications Inc. ((NYSE, NASDAQ:VZ) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/24/2024 9.71% Keybanc $45 → $46 Maintains Overweight 01/04/2024 9.71% Wolfe Research → $46 Upgrades Peer Perform → Outperform 01/03/2024 7.32% Keybanc → $45 Upgrades Sector Weight → Overweight 12/19/2023 2.55% Oppenheimer → $43 Reiterates Outperform → Outperform 12/14/2023 0.17% Citigroup $40 → $42 Maintains Buy 12/13/2023 -4.6% Wells Fargo $35 → $40 Maintains Equal-Weight 11/02/2023 7.32% Tigress Financial $64 → $45 Maintains Buy 10/25/2023 -9.37% Barclays $37 → $38 Upgrades Equal-Weight → Overweight 08/29/2023 -4.6% Citigroup $39 → $40 Upgrades Neutral → Buy 08/22/2023 2.55% Oppenheimer → $43 Reiterates Outperform → Outperform 08/03/2023 4.94% Morgan Stanley $44 → $44 Reiterates Overweight → Overweight 07/27/2023 -6.99% Citigroup $42 → $39 Maintains Neutral 07/26/2023 -14.14% Goldman Sachs $41 → $36 Maintains Neutral 07/26/2023 0.17% Raymond James $51 → $42 Maintains
Verizon Communications Inc. ((NYSE, NASDAQ:VZ) Stock Analyst Ratings Read Post »