- Foot Locker warns of supply chain disruptions ahead of the holiday season
- The Buckle offers weak guidance for Q4 2021
- Goldman Sachs analyst upgrades Intuit in better than anticipated Q1 2022 results
Different equities plunged on Friday after announcing quarterly results as investors negatively reacted to the earnings results.
Workday drops despite beating Q3 estimates
Workday Inc. (NASDAQ: WDAY) shares dropped 3.59% despite the company reporting better than anticipated Q3 2021 results. The company topped consensus estimates by posting non-GAAP EPS for Q3 of $1.1 while GAAP EPS was $0.17 per share, beating estimates of a loss of $0.17. In addition, the company’s revenue was up 19.8% YoY to $1.33 billion, topping Wall Street analysts’ projections by $10 million.
Foot Locker warns supply chain disruptions
Foot Locker Inc. (NYSE: FL) shares plunged 13% on Friday despite beating consensus analysts’ estimates for earnings and revenue. The company reported non-GAAP earnings of $1.93 topping estimates of $1.37 while GAAP EPS was $1.52 beating analysts’ projections of $1.4 per share. In addition, Foot Locker had revenue of $2.18 billion, up 3.3% YoY and beating estimates by $40 billion. However, the company warned that it is facing supply chain disruption ahead of the holiday season, likely affecting business.
Fartech’s Third Party Initiatives generated 83% of GMV
Also, leading luxury fashion items platform Fartech Ltd. (NYSE: FTCH) dipped 15% in pre-market trading on Friday after the company reported its Q3 2021 results. FarTech’s Third-party initiative generated around 83% of Digital Platform Gross Merchandise Value at a take rate of 30.1% during the quarter. Additionally, its two-year growth was up to 97% from 89%. Interestingly first Party transactions were up 29% YoY supported by First-Party Original.
The Buckle offers weak guidance for Q4 2021
The Buckle Inc. (NYSE: BKE) shares dropped 10% on Friday after the company offered weaker guidance for the holiday quarter despite topping estimates in Q3. Net income in Q3 2021 was $62.2 million or $1.26 per share, increasing from last year’s net income of $41.6 million or $0.85 per share. In addition, the company reported revenue of $319.4 million, representing an annualized growth of 27%.
Intuit upgraded to “Buy”
Intuit Inc. (NASDAQ: INTU) shares jumped 9% on Friday after the company announced its fiscal Q1 2022 financial results. The company reported non-GAAP EPS of $1.53, topping estimates of $0.97 per share, while its GAAP earnings of $0.82 per share surpassed estimates of $0.14. In addition, the company posted revenue of $2.01 billion, representing a YoY increase of 52.3%. following the impressive results, Goldman Sachs upgraded the stock from “Hold” to “Buy.”
