Top Companies to Report Earnings this Week | November 21st – 25th

Third quarter earnings season for 2022 isn’t quite finished — ahead are expected releases from such giants as HP, VMware, Zoom, and others.

This will be an important indicator because more than 90% of companies have already reported earnings. The results so far are very mixed… Hopefully, the new reports will clarify the market situation.

So, earnings highlights to look out for 👇

Tuesday, November 22nd

• VMware Inc ($VMW.N) – the company is slated to release its third-quarter fiscal results on Tuesday, November 22. The estimate for quarterly earnings has been unchanged over the past 30 days at $1.60 EPS, suggesting a 6.98% decline from the figure reported in the year-ago quarter. Further, the consensus mark for revenues is pegged at $3.38 billion, indicating a 5.95% increase from the year-ago reported number.
• Zoom Video Communications Inc (ZM.OQ) – the company is scheduled to announce Q3 earnings results on Tuesday, November 22nd, after market close. The consensus EPS is $0.84 (-24.3%) and the consensus revenue is $1.1 billion (+4.8%). Zoom lowered its fiscal year earnings and revenue forecast at the close of its second quarter, with the midpoint of its earning outlook implying a 27% decline from a year ago.

Wednesday, November 23rd

• HP Inc ($HPQ.N) – the company will report earnings after Wednesday’s close, with analysts forecasting $0.84 cents EPS (-10.6%) and revenue of $14.7 billion (-12.0%). In its fiscal third-quarter earnings call in August, HP warned of a “challenging macro and demand environment, including inflation, logistics constraints and pricing dynamics” that will impact its fiscal fourth-quarter and full-year results.
• Best Buy Co Inc ($BBY.N) – the company will report earnings ahead of Wednesday’s opening. Analysts, on average, expect the consumer electronics retailer to report earnings per share (EPS) of $1.03, down 50.5% year-over-year (YoY), and revenue of $10.3 billion (-13.4%). Although Best Buy said back-to-school sales came in ahead of its expectations, it likely experienced a slowdown in store traffic in October. As a result, most analysts remain on the sidelines ahead of BBY’s report.
• Autodesk Inc ($ADSK.OQ) – the company will be posting its quarterly earnings results after the market closes on Wednesday, November 23rd. Analysts expect its Q3 guidance at $1.66-1.72 EPS and its FY23 guidance at $6.52-6.71 EPS. Overall, this is a positive result, exceeding last year’s values. Therefore, analysts are optimistic about the likely release.

*Please note that dates and/or times of the release are subject to change.