Earnings Reports

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Consumer electronics giant Apple reported better than expected September quarter earnings Thursday. Revenue from iPhones dissppointed. $AAPL did not other guidance given the COVID-related supply chain and consumer disruptions. Sales in Greater China were weak, down 28% on the year.

Etsy reported better than expected third-quarter earnings after the market Wednesday. Revenues came in over $400 million with the marketplace platform expected to have sustained momentum during the coronavirus lockdown with orders and customer relationships becoming more developed.

Software giant Microsoft reported better than expected September quarter earnings Tuesday after the close. The Azure public cloud for hosting applications and websites grew 48%, accelerating from 47% in the prior quarter, faster than the 44% growth. Server products and cloud services revenue advanced 22%.

Social media company Snap, owner of Snapchat reported better than expected third quarter earnings expectations with revenues up 52% year-over-year and a adjusted EPS of $0.01 versus a loss of $0.04 last year. Daily active users rose by 18% year-over-year to 249 million.

Texas Instruments reported better than expected quarter earnings Tuesday and guided higher for the second quarter. $TXN's earnings report ahead of other chipmakers Advanced Micro Devices $AMD, Qualcomm $QCOM and Intel $INTC.

Citigroup posted better than expected results before the market as equity and fixed interest revenue helped overcome lockdown related credit-loss losses. $C reported after other money center banks JPMorgan Chase $JPM, Wells Fargo $WFC.

JPMorgan Chase, America's largest bank reported better than expected Q3 earnings Wednesday before the open. $JPM Investment banking revenue rose 12% to $2.1 billion on higher stock and bond underwriting fees. Citbank and Wells Fargo also reported Tuesday.

KB Homes reported better than expected Q3 earnings after the market Tuesday.  The stock jumped 3% after it had been bid up over 4% with other homebuilders after a robust existing housing sales number before the report. A rise in homesales since the COVID lockdown has suprised many experts..  

Machine data analytics specialist Splunk reported mixed second quarter earnings, missed on revenue but beat on earnings. In a mirror of last quarter $SPLK traded sharply down initially but bounced after the conference call focused on the successful shift to a SaaS model accelerating with cloud driving.

Occidental Petroleum reported for the second quarter on Monday a loss of $8.13 billionn including impairment charges of $6.6 billion.  $OXY is  the biggest Permian Basin producer is living on a knife edge. ExxonMobil , Chevron and Diamondback reported a much sounder position.

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