PepsiCo & Costco are the ones to read about today.
Markets are mixed with Nasdaq slipping 0.43% and closing at 10,381. Dow Jones up 0.17%, trading at 29,300.
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.
Though markets were flat, mega cap stocks have released their quarterly earnings reports. Take a look.
PepsiCo: better than estimations
PepsiCo released its quarterly earnings today, beating analysts estimates. The company reported earnings of 1.97 per share on revenue of $21.97 billion, topping estimates of 1.84 per share on revenue of $20.78 billion.
After closing the previous trading day at $162.59, PepsiCo is up to $168.65, which makes for a move of 3.73%/$6.06 today.
After closing the previous trading day at $472, Costco is up to $476.05, which makes for a move of 0.85%/$4.05 today.
Approximately 6 months ago, the wholesale giant reached a significant high of $608.05 but has struggled to hold onto its gains and declined 22.37% since then. The Nasdaq has been doing worse in 2022, it has been passing it by 35.15%. Costco's market cap currently stands at $210.70 billion with an average daily trading volume of 2.47 million shares.