Microsoft and Procter & Gamble and other mega cap stocks published their quarterly earnings. Here's what you need to know.
Markets completed a mixed session yesterday while Dow Jones ended the session at 33,734 after a 0.31% gain. Nasdaq lost 0.27% and ended the session at 11,334.
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 are flat and mega cap stocks have released their quarterly earnings reports. Here is an update on what to look out for.
Microsoft: mixed results
The company reported earnings results yesterday; with EPS at 2.48 and revenues at $52.75 billion, these results are mixed compared to a consensus of 2.27 Earnings Per Share and $52.96 billion revenue. Since the release of its earnings report, Microsoft lost 0.22%.
Without a clear direction, Microsoft closed at $242.04 while ranging between $240.45 and $243.93. Daily trading volume (40.23 million shares) increased, making up 139% of the 21-day average (28.95 million).
Procter & Gamble | better than expected earnings Thursday
Procter & Gamble released its quarterly earnings Thursday, beating analysts estimates. The company reported earnings of 1.59 per share on revenue of $20.77 billion, topping estimates of 1.58 per share on revenue of $20.73 billion. Since the release of its earnings report, Procter & Gamble lost 3.14%.
An influx of buyers helped the consumer goods company to end the session higher around $141.82, while establishing a $139.81 to $142.38 session range yesterday. The volume of trade was 6.77 million shares, close to the daily average of 6.72 million shares.