@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.
finance.yahoo.com
| Earnings live: Broadcom gives upbeat forecast for AI demand, Lululemon stock pops, Costco dips
@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.