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Square Inc – Reported its quarterly earnings doubled analyst expectations amid booming demand for crypto assets. Refinitiv had predicted Square would see earnings of 16 cents per share in Q1 but the company reported earnings of 41 cents per share. Square saw $5.06 billion in revenue, although $3.5b of that came from gains in Bitcoin trading, still an impressive 1,000% increase YoY. Square’s quarterly gross profit also surged 79% year-over-year to tag $964 million. More than half of the firm’s profits can be attributed to its crypto-friendly payment application, Cash App, which drove $495 million in gross profits — a 171% increase when compared to Q1 2020.
Peloton Interactive Inc – Reversed initial declines following results to rally sharply as the company said its expects $165m in revenue hit in Q2 from the recent recall of its Tread and Tread+ products. The company also said it has postponed the official launch of the Tread in the US. PTON reported a loss of $0.03/share in its third quarter lower than analysts estimates but a significant improvement from the $0.20/share loss it reported in the same period a year ago. The company reported revenue of $ 1.26 billion , which is higher than the estimated $1.11 billion.
Roku Inc – Solidly higher in premarket trading following its latest results, ROKU reported quarterly adjusted earnings of 54 cents per share for the quarter, well above an expected loss of 13 cents per share. Revenue rose 79% to $574.18 million from a year ago; analysts expected $491.95 million. The company reported quarterly net income of $76.3 million.
Beyond Meat – Trading sharply lower this morning after reporting a wider quarterly loss than expected, as the plant-based meat maker incurred higher freight costs, spent heavily on testing new product launches, and sold less to pandemic-hit restaurants. Shares of the California-based company fell nearly 7% in extended trading. The company, which sells faux meat in over 100,000 outlets worldwide, last year benefited from consumers stockpiling their freezers with bulk packages of its “burgers” during stay-at-home orders across the United States. The company also guided lower saying it expects second-quarter revenue in the range of $135 million to $150 million, a rise of 19% to 32%. Analysts had forecast revenue of $142.8 million.
DraftKings Inc – Reported revenue of $312 million, an increase of 253% compared to $89 million during the same period in 2020. DKNG said Average Revenue Per Monthly Unique Paying Customer was $61 in Q1 up 48% YoY. The company also raised its fiscal year 2021 revenue guidance from a range of $900 million to $1 billion to a range of $1.05 billion to $1.15 billion. (Webcast call at 8:30EST)
Datadog Inc – Up sharply following better than expected results, the monitoring and security platform for cloud applications reported revenue of $198.5 million in its latest quarter, an increase of 51% year-over-year. GAAP operating loss was $(12.8) million while its EPS of $.06 beat expectations of $0.02/share. The company also raised its Q2 revenue and EPS estimates.
Tilray Inc – Up nearly 8% in premarket trading bouncing back from Thursday’s tumble, the company reports earnings May 18th for the first time since the Aphria acquisition. Jefferies analysts double upgrade on the stock today to “Buy” from “Underperform” with a $23 PT.
Twitter Inc – In a further effort to maximize and introduce new monetization efforts of creators, Twitter announced the launch of “Tip jar” aftermarket yesterday. Currently, a limited number of users can add the ‘Tip Jar’ feature to their respective accounts. User will know an account’s Tip Jar is enabled if a Tip Jar icon is visible next to the Follow button on their profile page. You can tap the icon to see a list of payment services or platforms that the account has enabled. The services currently available through which you can send and receive tips include Bandcamp, Cash App, Patreon, PayPal and Venmo. On Android, tips can also be sent within Spaces. Twitter further notes that it doesn’t take any cut in the tips sent to the account.
BioNTech SE – Along with covid-19 vaccine partner PFE plan to begin the process of seeking full FDA approval for its vaccine in the US. Currently the PFE/BNTX vaccine is being distributed under a emergency use authorization. The pair also submitted for expanded EUA approval for individuals 12-15 years in age.
Ibio Inc – Said its COVID-19 vaccine candidate, IBIO-201, showed no adverse effects in recently completed preclinical toxicology studies. The studies were conducted to evaluate potential toxicity risks prior to human studies and to estimate starting doses for clinical trials. IBIO is also developing IBIO-202, a next-generation vaccine candidate that targets the nucleocapsid protein of SARS-CoV-2, which may help in providing protection against variants.
Ocugen Inc – Updated its current quarter financials saying it now expects to report a loss per share of $0.04 worse than the $0.02/share analysts had currently expected. The company also said it continues to make progress toward EUA from the FDA for its joint COVAXIN covid-19 vaccine.