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@ShallowLoving 2 months ago

Earnings recap: Broadcom, Lululemon, Costco, GameStop, and others report Q3 results

Earnings recap: Broadcom, Lululemon, Costco, GameStop, and others report Q3 results

Q3 earnings season is wrapping up. About 99% of S&P 500 companies have reported, with earnings per share up 13.4%, significantly beating the 7.9% originally expected. **Broadcom (AVGO)** Stock rose 3% in after-hours. Revenue grew 28% year over year to $18 billion, driven largely by AI chip demand which was up 74%. Management expects AI revenue to double next quarter. **Lululemon (LULU)** CEO Calvin McDonald is stepping down at the end of January. Despite the leadership change, the stock jumped 10% after beating earnings and revenue estimates. International sales were a strong point, up 18%. **Costco (COST)** Beat estimates on both earnings ($4.50 vs $4.28) and revenue. E-commerce sales were up 20.5%, a big jump from last year. Membership fee revenue also increased. The stock didn't move much on the news. **GameStop (GME)** Revenue missed expectations, coming in at $821 million versus the $987 million analysts wanted. However, they beat on profit per share. The company held about $519 million in bitcoin at the end of the quarter. Stock dropped 5%. **Victoria's Secret (VSCO)** Shares climbed 13% after they raised full-year guidance. Q3 sales were up 9% and losses were smaller than anticipated. **Other updates:** * **Ulta (ULTA):** Up 5% after beating estimates and raising full-year outlook. * **Chewy (CHWY):** Beat earnings estimates but stock fell 7% as gross margins dipped slightly. * **Oracle (ORCL):** Revenue missed and higher AI costs spooked the market a bit. * **HPE:** Stock fell 4% after forecasting weak revenue for next quarter. * **AutoZone (AZO):** Missed earnings estimates due to inventory charges and tariff pressures.
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@AntonioMyers 2 months ago

It's great to see performing so strongly with AI chip demand. That expected double for AI revenue is very promising.