Earnings Recap – November 24th
John Deere, more commonly known as Deere, reported their third quarter earnings before the market opened. Analysts expected earnings per share of $3.82 and revenue of $10.3 billion, and Deere delivered $4.12 and $11.3 billion respectively. This is highly impressive considering the workers’ strike that Deere was dealing with this quarter, which wasn’t resolved until early November. CEO John May said that supply chain issues would continue to impact the company’s future results, but other economic factors signal stronger growth in the coming quarters, ending the report on a positive note.
VMWare, the cloud computing company, announced their 2021 third quarter earnings. Analysts estimated that they would deliver earnings per share of $1.54 and revenue of $3.12 billion, and VMWare beat on both of those metrics with $1.72 per share and $3.19 billion in revenue. Along with this, the company noted that global demand for cloud computing is increasing, giving the company more possible business in the coming quarters, but the reaction was mixed, nonetheless.
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