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Q1 Reports for Great Reopening Stocks: UBER, PYPL & More

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Market indexes finished this trading day mixed, with the blue-chip Dow 30 hitting a new record-high close on its third-straight up day, +0.29%, while the tech-heavy Nasdaq dipped a fourth consecutive session, -0.37%. The S&P 500 hovered around breakeven and finished up 0.07% while the small-cap Russell 2000 dropped 0.34% on the day. After the closing bell, we see fresh new earnings results from companies transitioning to the Great Reopening:

Uber UBER posted mixed results in its Q1 release this afternoon, with losses on the bottom line coming in much better than expected: -6 cents per share versus -$0.56 in the Zacks consensus, on a top-line miss: $2.90 billion versus $3.24 billion anticipated. However, this was due to a one-time charge in the U.K. whereby the company’s drivers were reclassified. Gross Bookings came in at an all-time high, $19.5 billion, +24% year over year — much better than expected.

As the economy reopens, Uber is expected to be a net gainer as its ride-sharing businesses returns. The good news in the quarter is that Uber’s delivery business (Uber Eats) stayed hot, even as the reopening progressed. Shares of Uber rose 1.3% immediately on the news, breaking a losing streak of three straight quarters missing earnings estimate consensus.

Booking.com BKNG also surpassed estimates on its bottom line, posting -$5.26 per share versus expectations of -$726 per share. Revenues were narrowly higher than consensus: $1.14 billion versus $1.12 billion. Improving booking trends i  travel destinations — especially internationally, where Booking.com tends to excel — look to assist the company as it carters to pent-up travel demand.

Etsy ETSY shares are falling more than 8%, even as the e-commerce site beat expectations on both top and bottom lines: $1.00 per share topped the Zacks consensus by 16 cents, while $551 million in quarterly sales surpassed the $531.5 million analysts were looking for. Consolidated Gross Merchandise Sales (GMS) rose 132% year over year to $3.1 billion. New Q2 revenue guidance of between $493-596 million moves up from the previous Zacks consensus $494 million.

Zacks Rank #2 (Buy)-rated PayPal PYPL posted its best quarter in history after the closing bell, with earnings of $1.22 per share taking out the $1.01 expected, +84% year over year, on $6.03 billion surging past the $5.90 billion expected, up 31% from a year ago. Guidance for both Q2 and full year revenues were raised, as the company counted 14.5 million net new active users, bringing its total to just under 400 million.

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Etsy, Inc. (ETSY) : Free Stock Analysis Report
 
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