Visa Inc., NVIDIA, Walmart and other mega cap stocks have published their quarterly earnings.
Leading equity indices in the US declined as Nasdaq slipped 1.54% and closed at 11,184. S&P 500 shed 0.83% and closed at 3,958.79.
What is an earnings report?
An earnings report is an official statement of a company's profitability over a certain period of time. Usually, these reports are released four times a year (quarterly reports) and have a significant impact on the market. These announcements are typically taken into consideration when making predictions.
Markets were down, mega cap stocks have released their quarterly earnings reports. Have a look at this rundown.
Visa Inc.: EPS of 1.93, Revenue of $7.79 billion
Visa Inc. trades at $210.14 after the company released its quarterly results.
A quiet day for Visa Inc. as it remained range-bound within a $208.22 – $210.89 range before closing at $210.14.
The multinational financial services company is now trading 18.2% above the significant low ($177.65) it slumped to a month ago. So far in 2022, it has been outperforming the Dow by 3.92%. The company's market cap is $343.58 billion with an average daily trading volume of 7.95 million shares.
Visa Inc.: EPS of 1.93, Revenue of $7.79 billion
Visa Inc. trades at $210.14 after the company released its quarterly results.
A quiet day for Visa Inc. as it remained range-bound within a $208.22 – $210.89 range before closing at $210.14.
The multinational financial services company is now trading 18.2% above the significant low ($177.65) it slumped to a month ago. So far in 2022, it has been outperforming the Dow by 3.92%. The company's market cap is $343.58 billion with an average daily trading volume of 7.95 million shares.
Walmart | Extends $10.11 since strong earnings report Tuesday
Walmart released its quarterly earnings report Tuesday, beating analysts estimates. The company reported earnings of 1.5 per share on revenue of $152.81 billion, topping estimates of 1.32 per share on revenue of $147.75 billion. Since the release of its earnings report, Walmart gained 7.31%.
Pronounced bullish sentiment in the market helped the warehouse stores chain company to make a notable 0.72% gain yesterday, rising $1.06 and ultimately closing at $148.5.
Having set a significant high of $159.87 5 months ago, the discount department and warehouse stores chain is trading 24.64% lower. So far in 2022, it has performed better than the Dow by 11.7%. Walmart's market cap is currently $403 billion with an average daily volume of 6.71 million shares.
Home Depot | Extends $8 since strong earnings report Tuesday
Home Depot released its quarterly earnings report Tuesday, beating analysts estimates. The company reported earnings of 4.24 per share on revenue of $38.87 billion, topping estimates of 4.11 per share on revenue of $37.96 billion. Since the release of its earnings report, Home Depot gained 2.6%.
An influx of buyers helped the home improvement retailer to end the session higher around $314.91, while establishing a $304.51 to $316.41 session range yesterday.
The home improvement retailer has recovered 17% since descending to a significant low of $266.58 around a month ago. So far in 2022, it has been doing worse than the Dow Jones by 14.09%. Home Depot is currently trading with a market cap of $322.38 billion with an average daily volume of 4.31 million shares.