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Friday Earnings Roundup

Earnings from T-Mobile, Uber, Zillow and more.
(Roman Tiraspolsky)
(Roman Tiraspolsky)
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A slew of earnings caps off Election Week.

T-Mobile continued to add customers (689,000 postpaid phone subscribers and 56,000 prepaid subscribers) in Q3 and said its recent merger with Sprint will result in $1.2 billion in savings next year.

  • T-Mobile’s revenue increased by 74% to $19.27 billion, and its profit rose nearly 44% to $1.25 billion.

Uber reported another big loss as Covid-19 continues to decimate its core ride-hailing business. However, its stock continued to rise for the second consecutive day after a critical regulatory win in California.

  • Gross bookings dropped 53% year-over-year, revenue dipped 18% to $3.13 billion, and net loss decreased to $1.09 billion compared to $1.16 billion a year earlier.

Zillow posted its largest quarterly profit on record, as the pandemic continues to drive real estate demand and push services online.

  • Zillow’s revenue fell roughly 12% percent from a year ago to $656.7 million. But it was well above the company’s $581 million guidance. Net profit improved to $39.6 million.

Square’s third-quarter earnings “smashed” Wall Street’s predictions as its merchant business continues to come back and its Cash App segment continues to pick up momentum.

  • Q3 revenue more than doubled to $3.03 billion, while gross profit rose around 59% to $794 million.

Peloton surpassed expectations, reporting quarterly sales growth of 232%, as consumers continue to turn to in-home fitness equipment and classes at home through the pandemic.

  • Revenue more than tripled in Q3 to $757.9 million, bringing the company’s total revenue expectation to $3.9 billion in the year.

CVS Health’s Q3 earnings proved better than expected as its plan to remake the drugstore chain into a health service company continues.

  • Revenue for the quarter increased by 3.5% to $67.06 billion compared to a year ago. Net income on an unadjusted basis fell to $1.22 billion against $1.53 billion a year earlier.

Justin Oh:

Many of these names have been top picks on the ROIC Big Board, so today is a celebratory day for those in our community that has built positions in them! But let’s not linger on past successes. Over the next quarter, we’ll be reassessing our favorite stocks and potentially shedding some and adding new ones. Onto the next inning of a multi-decade game.

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