The first week of Earnings season is finished. Income reports generally start with companies, as from the current season. The following week, the reports were from several those banking giants that were digital, Pepsi and Netflix drawn several investors’ interest. In this review, we will see what happened.
Pepsi was. After lockdown restrictions increased from the second half of the quarter, making a crisis for several companies, it was used by some as an opportunity — drink makers were one of themand this comprised Pepsi. Because individuals stayed home, they had sales during the epidemic as more folks were drinking, eating and watching films. Precisely the identical reason that assisted Netflix, the online movie stage. The second quarter was slightly different.
Netflix reported that a 15.77 million increase in paid subscribers globally for Q1, as restrictions eased and reopening’s enhanced, while Pepsi managed to maintain its market share and boost revenue. For Netflix, which seems to mean expectations for new readers, especially for the next half of this year.
Date
Company
Forecast
Actual Results
EPS ($)
EPS $
Revenue ($)
PROFIT ($)
13. July
PepsiCo Inc.
1.25
1.32
15.95B
1.65B
14. July
Wells Fargo & Co.
-0.2
-0.66
8.3B
-2.38B
14. July
JPMorgan Chase & Co.
1.04
1.38
22.51B
4.69B
15. July
Goldman Sachs
3.78
6.26
11.71B
2.42B
16. July
Netflix Inc.
1.81
1.59
6.15B
720.2M
16. July
Bank of America Corp.
0.27
0.37
17.21B
3.53B
16. July
Johnson & Johnson
1.49
1.67
18.34B
3.63B
16. July
Morgan Stanley
1.12
1.96
13.41B
3.2B
The banks are the principal players in government stimulus packages. Like the authorities, they always think their aims as more significant than ones that are short-term, and so they expected to make especially following the Fed cut interest rates sharply overnight. Net income fell by $5 billion billion (10%) in the leading US banks, according to Reuters.
On the flip side, as mentioned in the case of short-term and long term earnings, that which we’ve been facing lately has been forcing individuals to have short-term deposits and even more in the form of money in the bank, this is not in the interest of the banks since they can not make long-term investments with their liquidity, and in the short term, it is deadly for them, and this one of the reasons why banks’ shares fell, although the majority of them fulfilled expectations, as you can see from the chart. Because fears and worries subside, banks have been changing some of the capital. So generally nothing has changed, only the path has shifted a bit.
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Ahura Chalki
Market Analyst
HotForex
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