SoFi Technologies, Inc., Confluent, Inc. Class A Common Stock, Franklin Resources Inc and other stocks published their quarterly earnings, check out this rundown of reports and how they turned out.
Leading equity indices in the US declined as after dropping 1.96%, Nasdaq closed at 11,400. S&P 500 closed at 4,017.77, a 1.3% change.
What is an earnings report?
An earnings report is an official statement of a company's profitability over a certain period of time. These reports are typically announced once a quarter, and their timing is considered when making predictions about the market due to the large impact they have on it.
Markets were down, stocks have released their quarterly earnings reports. Have a look at this rundown.
SoFi Technologies: mixed results
SoFi Technologies, Inc. reported earnings results yesterday, with EPS at -0.15 and revenues at $456.68 million; these results are mixed when compared to a consensus of -0.09 Earnings Per Share and $426 million revenue. Since the release of its earnings report, SoFi Technologies, Inc. gained 12.46%.
After ending Friday's session at $5.94, SoFi Technologies went up to $7 yesterday only to fall back and close at $6.68. Daily trading volume (164.18 million shares) increased, making up 382% of the 21-day average (42.95 million).
Confluent: mixed results
Confluent reported ambiguous earnings results yesterday, with revenue at $168.67 million, compared to a consensus of $144.81 million. Since the release of its earnings report, Confluent lost 1.96%.
After ending Friday at $23.49, Confluent declined to $22.14 yesterday before closing at $23.03, thereby losing 1.96% in total.
Over the past 11 months, the US software company has retreated 68.66% from a noteworthy peak of $74.95. So far this year, it has been under-performing the Nasdaq by 0.86%. The company is currently trading with a market cap of $6.60 billion with an average daily trading volume of 3.61 million shares.
Franklin Templeton | Extends 54 cents since strong earnings report yesterday
Franklin Templeton released its quarterly earnings report yesterday, beating analysts estimates. The company reported earnings of 1.08 per share on revenue of $1.97 billion, topping estimates of 0.54 per share on revenue of $1.92 billion. Since the release of its earnings report, Franklin Templeton gained 1.76%.
After ending Friday at $30.72, the US holding company spiked to $31.81 and closed yesterday at $31.26 — gaining 1.76% overall. Daily trading volume (8.21 million shares) increased, making up 228% of the 21-day average (3.60 million).