Next Week’s Earnings Report Preview (03 – 07 September 2018)
- Best Buy’s reported better than expected comparable sales growth of 6.2%
- Salesforce.com raised its FY19 revenue guidance to $13.175 billion
- Hewlett Packard Enterprise’s net revenue enjoyed 4% y/y growth
- Next week reporting Manchester United PLC, Marvell Technology Group Ltd and more
Source: Pexels.com | Photographer: Nicolas Postiglioni
Best Buy Co. Inc. (Q2 2019)
The Minnesota-based consumer electronics retailer reported a boost in comparable sales growth of 6.2%. Most of this growth came from the home theatre, computing, appliances, gaming, mobile phones, and smart home buyer categories.
However, this growth was somewhat stifled by the declining interest in digital imaging technology and tablets. Best Buy’s GAAP (Generally Accepted Accounting Principles) EPS amounted to $0.86, or a 28% increase compared to the previous quarter.
The company adjusted its original guidance for the full year of 2019 by raising its expected comparable sales growth from a flat 2.0% to between 3.5% and 4.5%, while it predicts non-GAAP EPS to range between $4.95 and $5.10.
“We are happy to report strong top- and bottom-line results for the second quarter that exceeded our expectations,” said Hubert Joly, Best Buy’s chairman and CEO. “We are particularly encouraged with the continued progress of our Net Promoter Scores and our continued market share gains. We are excited about the progress we are making on the implementation of our Best Buy 2020 strategy and the opportunities in front of us.”
Salesforce.com Inc. (Q2 2019)
The popular cloud computing company announced second quarter revenue of $3.28 billion—a growth of 27% on a year over year basis. Out of this number, subscription and support revenues amounted to $3.06 billion, while professional services & other revenues—to $221 million.
Salesforce.com also reported GAAP diluted EPS of $0.39 and operating cash flow of $458 million (up 38% compared to last year). Due to this strong performance the company raised its full year expectations to $13.175 billion in revenue from the originally projected $13.125 billion and predicts GAAP EPS to now range between $0.97 and $0.99.
Hewlett Packard Enterprise Co. (Q3 2018)
$7.8 billion in net revenue—this is what the multinational information technology company shared in its quarterly earnings report released on August 28. According to HP Enterprise, that number exceeded the net revenue achieved for the same period last year by 4%.
GAAP diluted EPS was $0.29, or about $0.10 more than what the company initially expected. For the period, HP Enterprise also raised quarterly cash dividend per share by 50% and returned $1.1 billion to shareholders in the form of share repurchases and dividends.
“HPE has delivered a strong Q3 and our results prove we have the right strategy to deliver in the areas of highest value for our customers.” spoke Antonio Neri, President and CEO of HPE. “Solid execution across each of our business segments, combined with market momentum, will enable us to deliver FY18 revenue and earnings well beyond our original outlook provided at our Securities Analyst Meeting last year.
Expected announcements
The week ahead lacks the enthusiasm of the previous month, sporting only a handful of companies. Among these you will no doubt notice GameSpot, which has rescheduled its earnings report once again from this Friday to next Thursday.
Monday, 03 September 2018
| Country | Company Name | Period |
|---|---|---|
| GB | Manchester United PLC | Q4 2018 |
Tuesday, 04 September 2018
| Country | Company Name | Period |
|---|---|---|
| GB | WPP PLC | Half Year 2018 |
| NL | OCI NV | Half Year 2018 |
Wednesday, 05 September 2018
| Country | Company Name | Period |
|---|---|---|
| DE | Bayer AG | Q2 2018 |
| GB | Barratt Developments PLC | Full Year 2018 |
Thursday, 06 September 2018
| Country | Company Name | Period |
|---|---|---|
| FR | Safran SA | Half Year 2018 |
| GB | Go-Ahead Group PLC | Full Year 2017 |
| US | Broadcom Inc | Q3 2018 |
| US | Palo Alto Networks Inc | Q4 2018 |
| US | ABM Industries Inc | Q3 2018 |
| US | GameStop Corp | Q2 2018 |
| BM | Marvell Technology Group Ltd | Q2 2019 |
Friday, 07 September 2018
| Country | Company Name | Period |
|---|---|---|
| GB | Ashmore Group PLC | Full Year 2018 |
In case you’ve missed our last report, you can view it here.