Airbnb, Palantir, Roblox, and Roku: Stock Market Weekly Digest (13–17 February)
This week, our focus was on Palantir Technologies, Airbnb, Roblox, and Roku. See how their stocks reacted to the latest events.
Palantir report: recorded quarterly profit for the first time
On Monday 13 February, American manufacturer of data analytics software Palantir Technologies Inc. reported Q4 and full-year 2022 earnings. Compared to the same period in 2021, quarterly revenue recorded a 17.5% increase to $508.62 million, and net profit reached $33.49 million and $0.01 per share. A year ago, the company reported a net loss of $156.19 million or $0.08 loss per share.
Full-year revenue increased 23.61% to $1.91 billion, the net loss dropped 28.69% to $371.09 million, and the loss per share decreased 33.33% to $0.18. Palantir Technologies Inc. management expects revenues to reach $503-507 million in the first quarter of 2023 and $2.18-2.23 billion for the full year. Moreover, the company expects to generate its first annual net profit.
The strong report and optimistic outlook led Palantir Technologies Inc. (NYSE:PLTR) shares to rise noticeably: since Monday, they recorded a growth of 29.29% to $9.71.
Airbnb report: quarterly profit grew by 480%
Airbnb Inc. (NASDAQ:ABNB) – the company owning a short-term rentals service of the same name – published its quarterly and yearly reports on Tuesday 14 February. The statistics made its shares grow by 31.58% to $143.25.
In Q4, revenue recorded a growth of 24.15% to $1.91 billion, net profit skyrocketed 480% to $319 million, and EPS 500% to $0.48. The consensus forecast is as follows: revenue $1.86 billion, and EPS $0.26.
For the full year of 2022, Airbnb Inc.’s revenue reached $8.4 billion, net profit $1.89 billion, and EPS $2.79. As you might remember, 2021 revenue was $5.99 billion, net loss was $352 million, and loss per share was $0.57. Experts had expected the revenue in 2022 to reach $3.86 billion and EPS to be $2.59.
Airbnb Inc. expects revenue for the first quarter of 2023 to reach $1.75-1.82 billion, while analysts estimate it to be 1.68 billion.
Roblox report: loss grows slower than experts predicted
Roblox Corp (NYSE:RBLX) gaming company's fourth-quarter and full-year 2022 financial data released on Wednesday 15 February put investors and analysts at ease. On the same day, its stock gained 26.38% to $45.08 per share.
Quarterly revenue recorded a 1.8% rise, reaching $579 million, net loss was up 97.94% to $291.49 million, and loss per share was up 92% to $0.48. Revenue for the year increased by 15.94% to $2.23 billion, and net loss rose 85.54% to $0.93 billion, and loss per share rose 59.8% to $1.55. Experts predicted that loss per share would reach higher levels: $0.52 for the quarter, and $1.62 for the year.
In October - December, the number of Daily Active Users (DAU) was 58.8 million, up 19% from Q4 2021. For the full year, the figure added 23%, reaching 56 million users per day. Users spent 12.8 billion hours on the platform in Q4, and 49.3 billion hours over the year, which statistics were up 18% and 19%, respectively.
Roku report: results exceeded market expectations
Since the beginning of the week, the stock price of Roku Inc. (NASDAQ:ROKU) which owns a streaming platform, produces software and equipment for broadcasting and works with digital and video ads, grew 28.54% to $70.57.
The growth might possibly be explained by the release of quarterly and yearly results that exceeded Wall Street expectations. In October - December last year, revenue increased 0.2% to $867.06 million and net loss reached $237.2 million or $1.7 per share – instead of the expected revenue of $801.7 million and loss per share of $1.73. Over the year, revenue rose 13.1% to $3.13 billion and net loss reached $498 million or $3.62 per share.
The number of active users of the Roku platform increased by 16% to 70 million, or 2% higher than the consensus forecast. The net inflow of active users in Q4 amounted to 4.6 million people.
Roku Inc. Expects its revenue in the first quarter of 2023 to reach $700 million, which is higher than the consensus forecast of $690.6 million. Moreover, the management hopes for its operating costs to slow down from 70% to 40%.
This week, quarterly and yearly reports were presented by Palantir Technologies Inc., Airbnb Inc., Roblox Corp, and Roku Inc. In all four cases, the stock quotes reacted with swift upward movements.