CFRA Maintains Buy Recommendation On Shares Of Meta Platforms, Inc.

/ / Technology /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: META says it will stop showing ads to teens under 18 in Europe and launch new subscription-based versions of its social-media products to comply with new regulations. Users over 18 will be offered a choice to agree to let META use their digital activity to target ads or pay a monthly subscription fee (EUR9.99 on desktop and EUR12.99 on mobile, given app-store fees) to keep using Facebook/Instagram without ads. The pause on ads for teen users starts on November 6. We think the tactic by META essentially helps keep the company in good standing with regulations in Europe and will push users to consent to behavioral ads, sustaining its massive installation of MAUs/DAUs. The alternative of paying a big monthly premium or having no access to the […]

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Monolithic Power Systems Announces Results for the Third Quarter Ended September 30, 2023

/ / Technology /

Monolithic Power Systems Announces Results for the Third Quarter Ended September 30, 2023 KIRKLAND, Wash., Oct. 30, 2023 — Monolithic Power Systems, Inc. (“MPS”) (Nasdaq: MPWR), a fabless company with a global footprint that provides high-performance, semiconductor-based power electronic solutions, today announced financial results for the quarter and nine months ended September 30, 2023. The financial results for the quarter ended September 30, 2023 were as follows: — Revenue was $474.9 million for the quarter ended September 30, 2023, a 7.6% increase from $441.1 million for the quarter ended June 30, 2023 and a 4.1% decrease from $495.4 million for the quarter ended September 30, 2022. — GAAP gross margin was 55.5% for the quarter ended September 30, 2023, compared with 58.7% for the quarter ended September 30, 2022. — Non-GAAP gross margin (1) was 55.7% for the quarter ended September 30, 2023, excluding the impact of $1.0 million for

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Arista Networks, Inc. Reports Third Quarter 2023 Financial Results

/ / Telecommunications /

Arista Networks, Inc. Reports Third Quarter 2023 Financial Results SANTA CLARA, Calif.–(BUSINESS WIRE)–October 30, 2023– Arista Networks, Inc. (NYSE: ANET), an industry leader in data-driven, client to cloud networking for large data center, campus and routing environments, today announced financial results for its third quarter ended September 30, 2023. Third Quarter Financial Highlights “Arista once again delivered strong financial results in the third quarter,” says Jayshree Ullal, President and CEO of Arista Networks. “Customer momentum remained strong in both enterprise and cloud/AI sectors.”   —  Revenue of $1.509 billion, an increase of 3.5% compared to the second      quarter of 2023, and an increase of 28.3% from the third quarter of      2022.   —  GAAP gross margin of 62.4%, compared to GAAP gross margin of 60.6% in      the second quarter of 2023 and 60.3% in the third quarter of 2022.   —  Non-GAAP gross margin

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McDONALD’S REPORTS THIRD QUARTER 2023 RESULTS

/ / Consumer Discretionary /

McDONALD’S REPORTS THIRD QUARTER 2023 RESULTS PR Newswire CHICAGO, Oct. 30, 2023 — Global Systemwide sales* increased 11% for the quarter, with global comparable sales of nearly 9% and strong growth across each segment — Digital Systemwide sales in our top six markets were nearly $9 billion for the quarter, representing over 40% of their Systemwide sales CHICAGO, Oct. 30, 2023 /PRNewswire/ — McDonald’s Corporation today announced results for the third quarter ended September 30, 2023. “With global Systemwide sales growth of 11%, our third quarter results reflect our position of strength as the industry leader,” said McDonald’s President and Chief Executive Officer, Chris Kempczinski. “The macroeconomic environment is unfolding in line with our expectations for the year, and we continued to deliver convenience and value for our customers. Thanks to the entire McDonald’s System’s outstanding execution of Accelerating the Arches, we remain confident in our future and the strategic

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McDonald’s Q3 Non-GAAP Earnings, Revenue Rise

/ / Consumer Discretionary /

McDonald’s (MCD) reported Q3 non-GAAP earnings Monday of $3.19 per diluted share, up from $2.68 a year earlier. Analysts polled by Capital IQ expected $2.99. Revenue for the quarter ended Sept. 30 was $6.69 billion, compared with $5.87 billion a year earlier. Analysts surveyed by Capital IQ expected $6.55 billion. Global comparable sales were up 8.8% during the quarter, the company said. Analysts polled by Capital IQ expected a nearly 8% growth rate.

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ON Semiconductor Q3 Adj EPS $1.39 Beats $1.34 Estimate, Sales $2.18B Beat $2.15B Estimate

/ / Technology /

ON Semiconductor (NASDAQ:ON) reported quarterly earnings of $1.39 per share which beat the analyst consensus estimate of $1.34 by 3.73 percent. This is a 4.14 percent decrease over earnings of $1.45 per share from the same period last year. The company reported quarterly sales of $2.18 billion which beat the analyst consensus estimate of $2.15 billion by 1.43 percent. This is a 0.54 percent decrease over sales of $2.19 billion the same period last year.

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ON Semiconductor Third Quarter 2023 Results Exceed Expectations

/ / Technology /

onsemi Third Quarter 2023 Results Exceed Expectations Achieves record revenue in automotive and industrial end markets SCOTTSDALE, Ariz.—-October 30, 2023– onsemi (the “Company”) (Nasdaq: ON) today announced results for the third quarter of 2023 with the following highlights: — Revenue of $2,180.8 million; GAAP and non-GAAP gross margin of 47.3% — GAAP operating margin and non-GAAP operating margin of 31.5% and 32.6%, respectively — GAAP diluted earnings per share and non-GAAP diluted earnings per share of $1.29 and $1.39, respectively — Record automotive revenue of $1.2 billion, and increased 33% year-over-year — Record industrial revenue of $616 million, up slightly year-over-year “Our disciplined approach and execution resulted in another solid quarter, demonstrating the resilience in our business amid market softness,” said Hassane El-Khoury, president and chief executive officer of onsemi. “We continue to drive structural improvements and efficiencies, most notably in our silicon carbide operation, with the completed expansion of

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Western Digital Reports Fiscal First Quarter 2024 Financial Results

/ / Technology /

Western Digital Reports Fiscal First Quarter 2024 Financial Results News Summary — First quarter revenue was $2.75 billion, up 3% sequentially (QoQ). Cloud revenue decreased 12% (QoQ), Client revenue increased 11% (QoQ) and Consumer revenue increased 14% (QoQ). — First quarter GAAP earnings per share (EPS) was $(2.17) and Non-GAAP EPS was $(1.76), which includes $225 million of underutilization-related charges in Flash and HDD. — Expect fiscal second quarter 2024 revenue to be in the range of $2.85 billion to $3.05 billion. — Expect Non-GAAP EPS in the range of $(1.35) to $(1.05), which includes $110 to $130 million of underutilization-related charges in Flash and HDD. SAN JOSE, Calif.–(BUSINESS WIRE)–October 30, 2023– Western Digital Corp. (Nasdaq: WDC) today reported fiscal first quarter 2024 financial results. “Western Digital’s fiscal first quarter results exceeded our expectations as the team’s efforts to bolster business agility and develop differentiated and innovative products across a

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