Earnings Recap – November 18th
Macy’s, the retail department store, reported their third quarter earnings. They blew out the estimate of 31 cents per share with a profit of $1.23 per share, and slightly edged revenue estimates of $5.2 billion with $5.4 billion, up 36 percent. This makes up for a great quarter financially, but that wasn’t it. Macy’s announced their decision to hire consulting firm Alix Partners to review and reconstruct their e-commerce and digital business, which encouraged investors, too. Macy’s saw a major intraday rise in their share price because of this earnings report.
Intuit announced their 2021 third quarter earnings after the bell on Thursday. They witnessed a massive beat on earnings per share with $1.53, beating the expectation of 97 cents per share. Additionally, they had sales of $2.01 billion, edging out the expectation of $1.81 billion. CEO Sasan Goodarzi said that Intuit expects to see more growth in the coming quarters, increasing their guidance, and their acquisition of Mailchimp looks to be a major factor. Intuit looks like a great long-term hold with these recent quarters, but some might believe that the stock might be too expensive.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.