Walt Disney, Palantir, Matterport, and Vaalco: Weekly Digest (8 August – 12 August)
This week, quarterly reports were presented by Palantir Technologies, Walt Disney, Matterport, and VAALCO Energy. Admittedly, not all the companies managed to please their investors and shareholders with the results of the previous quarter. Find more information about this, below.
Palantir Technologies report: losses rise 29%
On Monday 8 August, the American developer of software for data analysis published its report for Q2 2022. Earnings from April to June, compared to the results of the same months of last year, grew 26% to $473 million, the net profit increased 29.4% to $179.3 million, and the loss per share rose 28.6% to $0.09.
On the next day, several Wall Street analysts decreased the target price of the shares of the tech company. For example, Deutsche Bank expert Brad Zelnick dropped the target price of Palantir Technologies shares from $11 to $8.
After the quarterly report was published, the stock quotes of Palantir Technologies Inc. (NYSE:PLTR) plummeted 14.24% to $9.82. The next trading session ended with another decline of 5.8% to $9.25.
Walt Disney surpassed Netflix in the number of subscribers
On Wednesday 10 August, a report for Q3 2022 was presented by Walt Disney Company, one of the world’s largest makers of entertainment and media content. Earnings from April to June recorded 26% growth to $21.5 billion, net profit increased 53% to $1.4 billion, and EPS rose 36% to $1.09.
The number of Disney+ subscribers grew 31% to reach 151.2 million users, ESPN+ subscribers increased 53% to 22.8 million users, and Hulu subscribers grew 8% to 46.2 million users. For the first time, Disney got ahead of Netflix in terms of the client base: 221.1 million users against 220.7 million.
On Wednesday, the shares of Walt Disney Company (NYSE:DIS) reacted positively to the report, growing 3.98% to $112.43. On Thursday, trades closed with 4.68% more growth at $117.69.
Matterport shares grew 26% over two days
On 10 August, the results of Q2 2022 were presented by Matterport, the developer of hardware and software for 3D digitalising of the environment. The company reported a decline in earnings by 3.5% to $28.5 million. The result turned below Wall Street forecasts by almost 4%.
The net loss skyrocketed 941% to $64.6 million, and the loss per share rose 53.3% to $0.23. Meanwhile, earnings from subscriptions increased 20.3% to $18.4 million, exceeding the forecasts of analysts who had expected $18.1 million.
The management of the company changed the supposed estimation of the yearly earnings and losses, forecasting some improvements in the supply of accessories. Earnings are expected to reach $132-138 million, and losses per share $0.46-0.5. Previously, the forecast was $128.4 million and $0.52, respectively.
Regardless of the serious rise in the net loss, the shares of Matterport Inc. (NASDAQ:MTTR) reacted to the quarterly statistics by growth of 9.49% to $5.19. The positive trend remained the next day: the stock quotes rose 15.22% to $5.98.
VAALCO Energy report: earnings skyrocketed 157%
The shares of VAALCO Energy Inc. (NYSE:EGY), a company that explores, develops, and mines raw oil and natural gas, have been demonstrating positive dynamics for five sessions in a row, recording a 12.6% rise in total and reaching $5.2.
The growth of the shares was attributed to the results of the positive quarterly report for Q2 2022. Earnings skyrocketed 136% to $111 million, net profit increased 156.7% to $15.1 million, and EPS rose 150% to $0.25. Over the last four quarters, VAALCO Energy exceeded the consensus estimations of earnings four times, while the EPS forecast was exceeded three times.
This week, quarterly reports were presented by Palantir Technologies, Walt Disney, Matterport, and VAALCO Energy. The positive quarterly statistics sent the shares of Walt Disney Company up 4%, Matterport surged 9%, and VAALCO Energy rose 3%. The shares of Palantir Technologies lost 3%.