Earnings season scorecard

The Olympics aren’t the only make-or-break performance evaluation this week.

Companies across the market are reporting their latest quarterly earnings numbers, and the consequences for their share prices have been swift. Here are a few of the highlights you may have missed in a wild week of earnings news.

Intel had its worst day of trading since 1974 after it reported earnings misses on multiple fronts. Its stock sank 26.06% on Friday.

• Revenue came in at $12.83 billion for the quarter, missing Wall Street expectations of $12.98 billion. Revenue slipped 1% year over year.
• The company’s earnings per share came in over 80% lower than expected, with Intel reporting $0.02 EPS, while Wall Street forecast $0.10 EPS.
• The company also disclosed it was cutting 15% of its workforce, which is about 15,000 employees.

Apple, on the other hand, pleasantly surprised investors.

• It reported $85.78 billion in revenue, beating expectations of $84.38 billion.
• EPS came in at $1.40, beating expectations of $1.34.
• Apple said its iPhone sales comprised 46% of the company’s total sales over the quarter, while it saw the most growth in its iPad business, where sales grew 24% year over year to reach $7.16 billion.

Amazon plummeted 8.78% on Friday after its mixed bag earnings announcement.

• Revenue came in at $147.98 billion, under analyst expectations of $148.76 billion.
• It reported EPS of $1.26, beating expectations of $1.02.
• Amazon grew its advertising business 20% over the quarter, but its $12.8 billion in advertising sales still came in under expectations of $13 billion.

Carvana made a huge comeback, with shares jumping after its earnings on Wednesday.

• Its EPS made a huge splash when it reported $0.39, beating expectations of -$0.12.
• Its revenue came in at $3.41 billion, beating expectations of $3.27 billion and rising 15% from the same period last year.
• The company said it sold 101,000 vehicles over the quarter, up 33% from the same quarter a year ago.

Microsoft ended up in the red today after missing on AI metrics, even though there were bright spots in its earnings call.

• EPS came in at $2.95, similar to expectations of $2.94. During the same period last year, the figure was $2.69.
• Microsoft reported $64.73 billion in revenue, above expectations of $64.44 billion. Last year, the company reported revenue of $56.2 billion during the same period.

However, it missed expectations on its cloud revenue. While its overall cloud revenue was in-line with expectations, its “intelligence” cloud revenue, which is linked to its AI business, came in at $28.5 billion, lower than expectations of $28.7 billion.—LB