Rippers Weekly Recap 2/04: THE BUSIEST WEEK OF EARNINGS THIS QUARTER

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Biggest Earnings from this week

Apple reported earnings Thursday after the market closed, posting numbers of:

• EPS of $1.88, missing expectations of $1.94

• Revenue of $117.2B, missing expectations of $121.B

More than 50% of people that bought an Apple iPad last quarter were new to the product.

Apple expects iPhone YoY sales growth next quarter to accelerate from this past quarter.

Apple CEO Tim Cook said iPhone sales would have grown last quarter if not for the supply issues.

Amazon reported earnings Thursday after the market closed, posting numbers of:

• EPS of $0.03, missing expectations of $0.17

• Revenue of $149.2B, beating expectations of $145.8B

Amazon said it has seen continued slowness in first quarter of the year for AWS.

Amazon said it remains nervous about consumer spending and how people will prioritize budgets moving forward.

Google reported earnings Thursday before the market opened, posting numbers of:

• EPS of $1.05, missing expectations of $1.18

• Revenue of $63.1B, missing expectations of $63.2B

Google said the word "AI" 62 times on its earnings call.

Youtube shorts is now averaging 50B views per day.

Facebook (Meta) reported earnings Wednesday after the market closed, posting numbers of:

• EPS of $1.76, missing expectations of $2.26

• Revenue of $32.17B, beating expectations of $31.65B

Facebook announced a new $40B share buyback.

Facebook reported daily active users of 2B, beating expectations of 1.98B.

SOFI reported earnings Monday before the market opened, posting numbers of:

• EPS of -$0.05, beating expectations of -$0.09

• Revenue of $456.7M, beating expectations of $426M

Exxon Mobil reported earnings Tuesday before the market opened, posting numbers of:

• EPS of $3.40, beating expectations of $3.29

• Revenue of $95.4B, beating expectations of $94.7B

Exxon increased/extended its share-buyback program with up to $35B of cumulative share repurchases in 2023-2024.

Pfizer reported earnings Tuesday before the market opened, posting numbers of:

• EPS of $1.14, beating expectations of $1.05

• Revenue of $24.3B, in line with expectations

Pfizer sees its full year 2023 Adj EPS coming in between $3.25-$3.45, below estimates of $4.44, and Revenue between $67B-$71B, below estimates of $74.13B.

McDonald's reported earnings Tuesday before the market opened, posting numbers of:

• EPS of $2.59, beating expectations of $2.46

• Revenue of $5.93B, beating expectations of $5.69B

McDonald’s global comparable sales increased by 12.6% for the quarter.

UPS reported earnings Tuesday before the market opened, posting numbers of:

• EPS of $3.62, beating expectations of $3.59

• Revenue of $27.03B, missing expectations of $28.09B

UPS authorized a new share buyback program worth up to $5B and raised its quarterly dividend to $1.62 per share, up from $1.52.

Caterpillar reported earnings Tuesday before the market opened, posting numbers of:

• EPS of $3.86, missing expectations of $4.02

• Revenue of $16.6B, beating expectations of $16.04B

Caterpillar said it expects 2023 to be better than 2022 for both revenue and EPS.

General Motors reported earnings Tuesday before the market opened, posting numbers of:

• EPS of $2.12, beating expectations of $1.69

• Revenue of $43.1B, beating expectations of $40.65B

General Motors sees its full-year 2023 adjusted EPS coming in between $6-$7 above consensus estimates of $5.81.

AMD reported earnings Tuesday after the market closed, posting numbers of:

• EPS of $0.69, beating expectations of $0.67

• Revenue of $5.6B, beating expectations of $5.52B

AMD sees its revenue next quarter coming in between $5B to $5.6B compared to analyst expectations of $5.56.

Snapchat reported earnings Tuesday after the market closed, posting numbers of:

• EPS of #0.14, beating expectations of $0.11

• Revenue of $1.30B, missing expectations of $1.31B

Peloton reported earnings Wednesday before the market opened, posting numbers of:

• EPS of -$0.98, missing expectations of -$0.64

• Revenue of $792.7M, beating expectations of $710.5M

Peloton ended the quarter with 3.03M connected fitness subscribers up 10% YoY.

Waste Management reported earnings Wednesday before the market opened, posting numbers of:

• EPS of $1.30, missing expectations of $1.41

• Revenue of $4.93B, missing expectations of $4.97B

Starbucks reported earnings Thursday after the market closed, posting numbers of:

• EPS of $0.75, missing expectations of $0.77

• Revenue of $8.7B, missing expectations of $8.8B

Ford reported earnings Thursday after the market closed, posting numbers of:

• EPS of $0.51, missing expectations of $0.62

• Revenue of $44B, beating expectations of $40.4B

Major Headlines From This Week

• Jerome Powell and the Fed just raised rates by 25 basis points (0.25%) to between 4.50%-4.75% - Fed ...

• Here are my biggest quotes from Jerome Powell’s speech:

  • My forecast and colleagues' forecast is will not be appropriate to cut rates this year

  • We're talking about a couple more rate hikes to get to an appropriately restrictive stance

  • We can now say for first time the ‘disinflationary process has started’

• A lot of companies announced layoffs this week, from PayPal to DraftKings to Rivian and much more. Here’s a website I found that has been tracking all the recent layoffs

• Google is currently testing “Apprentice Bard” - a potential competitor to AI Chatbot ChatGPT and a new search page designs that integrate the chat technology - CNBC

• Microsoft launched a premium version of Teams with features powered by OpenAI’s GPT-3.5 AI language mode - The Verge

• Unemployment in the US during January fell to 3.4% from 3.5% in December - BLS

• Elon Musk defeated the Tesla shareholder lawsuit regarding his 2018 take Tesla private at $420 tweet - Bloomberg

• Bed Bath & Beyond missed an interest payment on its bonds this week - Bloomberg

• Ryan Cohen disclosed a sizable stake in Nordstrom - WSJ

• The IMF revised its growth projections for the global economy in 2023 up to 2.9% up from their 2.7% forecast back in October - IMF

• The US government raised the price cap for the new EV tax credits up to $80K - CNBC

• Microsoft completed the purchase of its ~4.2% stake in the London Stock Exchange Group - SMN

• Tesla China sold 66,051 vehicles from its Shanghai factory in January up 10.4% YoY - CnEVPost

• Tesla reportedly plans to ramp up electric vehicle production at Gigafactory Shanghai to 20,000 units per week - Reuters

• A federal appeals court rejected Johnson & Johnson‘s plan to push about 38,000 talc lawsuits into bankruptcy court - Bloomberg

• Boeing’s CEO said the company is hiring `many' engineers from Amazon as a part of its plan to hire 10,000 new employees this year - SMN

• More than half of workers in major US cities went to the office last week, the first time that return-to-office rates crossed 50% of their pre-pandemic levels - Bloomberg

• OpenAI just introduced a new subscription plan called ChatGPT Plus which will cost $20 per month - OpenAI

• OpenAI released a new tool to help tell when text is written by AI - Tech Crunch

• Rivian is developing an electric bike - Bloomberg

• Twitter is reportedly considering charging brands $1,000 per month to maintain their gold checkmark - Variety

• Ford announced price cuts for its electric Mustang Mach-E - The Verge

Get Prepared For A Very Busy Week Ahead!

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