Earnings Previews: Berkshire Hathaway, Enterprise Products, ON Semiconductor

After markets closed on Wednesday, Meta Platforms lit a fire under the tech heavyweights following the release of its earnings report. The company reversed the prior quarter’s loss of active users, adding a million to lift its total to 1.96 billion. Revenue rose 6.6%, lower than analysts were expecting, but enough to help boost the shares by nearly 18% in after-hours trading. The stock traded up about 16.5% in Thursday’s premarket.

Here is a brief rundown of some of the other firms that reported Wednesday night or Thursday morning.

Ford beat the on both the top and bottom lines, after launching its all-electric F-150 pickup earlier in the day. The stock traded up nearly 3% Thursday morning.

Casino operator Las Vegas Sands missed estimates on the top and bottom lines, blaming pandemic-related travel restrictions. Shares traded essentially flat.

PayPal met earnings estimates but beat on revenue. The company also lowered second-quarter guidance and withdrew its medium-term guidance. Shares traded up almost 3%.

Qualcomm traded up more than 7% in the premarket after beating the consensus profit estimate by 10% and the revenue estimate by about 6%. The company also noted that demand for its products is outrunning supply. Qualcomm expects “incremental improvement” to its production volume over the course of the year.

Marlboro cigarette maker Altria beat on profit but missed the revenue estimate. Shares traded up about 0.2%.

Caterpillar stock traded down about 1.6% after beating both the profit and revenue estimates. Margins slipped and dealer inventories rose.

McDonald’s reported better-than-expected results and the shares traded up about 1.6%. U.S. same-store sales rose 3.5% year over year.

Coal miner Peabody Energy traded down more than 12% in Thursday’s premarket, after posting a loss when analysts were looking for a profit. The loss was blamed on a $301 million hedging charge. Shipment volume also declined sequentially, and prices dropped by 25%.

Southwest Airlines posted a worse-than-expected loss and slightly better-than-expected revenue. The company said it expects to be profitable for the rest of the year and for the fiscal year as a whole. Shares traded up more than 3% in premarket action.

We already have previewed results due Thursday afternoon from Amazon, Apple and Robinhood, as well as Intel, Roku and U.S. Steel. Before markets open on Friday, Chevron, Exxon Mobil, Phillips 66 and Weyerhaeuser are expected to post quarterly results.

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