Lockheed Martin Missed on Numbers and Twitter Posted Better Results Than Other Social Media Companies 📈

by 27 Oct, 2021

Lockheed Martin Missed on Numbers and Twitter Posted Better Results Than Other Social Media Companies

Lockheed Martin

Lockheed Martin is an industrial company that researches and manufactures technology for the government, including things like missiles and aerospace devices. As the US government is one of their main clients, they are in the nation’s capital, and they have a market cap of $91.911 billion.

On Tuesday morning, Lockheed Martin announced their third quarter results. They reported an earnings per share of $2.21, which beat analyst expectations by a decent margin. However, the dark spot was sales, with Lockheed reporting only $16 billion in revenue compared to analyst expectations of $17 billion. Sales were down in all 4 of their segments, and they warned that it would accelerate further in the next quarter. Investors were mainly focused on the sales number, so Lockheed Martin fell to $331.91, down 11.80%    

Twitter

Twitter is one of the tech giants in the social media space, led by none other than Jack Dorsey. It’s one of the most used social media apps in the world along with Facebook, Instagram, and Snapchat, and they have a market cap of $49.019 billion.

Twitter reported their quarterly earnings after the bell on Tuesday, and many were awaiting it as other social media companies have struggled. They met the expectation on earnings per share with a 54-cent loss and met the expectation on revenue with $1.285 billion. Seems average, right? The other social media companies reported further losses due to Apple’s privacy policy, but Twitter said that it had little to no effect on the company’s cash flow, which was very encouraging to investors. As a result, Twitter rose to $63.55 after hours, up 3.45%.

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.

 

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