The corporate earnings disclosure season continues and oil is stable

2022-02-10T18:26:26
earnings Oil shares of Uber Walt Disney
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The corporate earnings disclosure season: Traders are following the performance of US companies as they announce their financial results,
amid geopolitical tensions affecting the stock market significantly. 

Evest follows market developments in the following report.

 

Topics:

Uber stock incurs losses less than expected in 2021″

Record revenue for Walt Disney in the first fiscal quarter of 2022, and the stock jumps 8% in a day

The motion picture segment

Brent is steady above $91.5 and West Texas is near $90

 

Uber stock incurs losses less than expected in 2021

In 2021, Uber, which provides taxi and food delivery services, recorded a net loss of $496 million, or $0.29 per stock, with a revenue of $17.45 billion.

Analysts projected a loss of US $1.04 per stock in revenue of US $17.13 billion, and cumulative annual demands of US $90.42 billion, above expectations of US $90.19 billion.

From October to December 2021, Uber reported a net income of $892 million, or $0.44 per stock,
compared to a loss of $968 million, or $0.54 per stock, for the same period last year. 

Net income includes pre-tax returns from Asia’s Grab investments of $1.4 billion,
a food delivery service operator, and Aurora Technologies, which develops autonomous driving techniques.

Uber’s adjusted profit before interest, taxes, depreciation and amortization (EBITDA), a key measure of the company’s profitability,
was $86 million, compared with the loss of $454 million in the same period the previous year.

Analysts surveyed by FactSet projected an average adjusted EBITDA of $67 million.

Uber’s quarterly revenue rose by 83% to $5.778 billion from $3.165 billion the previous year. Experts surveyed by FactSet projected an average of $5.35 billion.

The number of users of Uber platforms (account activity at least once a month) increased by 27% in the last quarter, to 118 million.

The total volume of company orders increased by 51% to $25.9 billion (consensus forecast – $25.6 billion).

Uber expects $100-130 million in adjusted EBITDA for the current quarter and $25-26 billion in total orders.

Uber provides its services in more than 900 cities in 70 countries.

Record revenue for Walt Disney in the first quarter of 2022 .. and the stock jumps 8 percent in a day

The Walt Disney Company, the world’s largest entertainment and media company, ended the first quarter of the fiscal year 2022 with record revenue and over $1 billion in net income, driven by a strong performance of its streaming business and recreational parks.

The company stated in a previous press release that net income for the quarter ending January 1 was $ 1.15 billion or 63 cents per stock compared to $ 29 million or two years per stock for the corresponding period of the year.

Adjusted profits rose to $1.06 per stock from 32 cents the previous year.

Revenue rose to $21.82 billion from $16.25 billion.

Analysts surveyed by FactSet, on average, projected the company to report adjusted average earnings of 74 cents per share on average revenue of $20.27 billion.

Revenue for the media and entertainment division rose by 15% to $14.59 billion, just ahead of the consensus.

Growth has generated a strong influx of new users of video services: The number of Disney + subscribers grew by 11.8 million in the quarter and reached 129.8 million by the end of the first financial quarter.

The total number of subscribers to all of the company’s streaming platforms, including ESPN + and Hulu, reached 196.4 million.

Analysts surveyed by FactSet projected 124.7 million Disney + subscribers for a total of 191.1 million.

The motion picture segment

In the motion picture segment, revenue was $2.43 billion versus a forecast of $2.27 billion.

Revenue was supported by the box office success of “Spider-Man: No Way Home,” co-produced with Sony.

Recreational parks, cruise ships and the Consumer Products division and Video Games more than doubled their revenue in this quarter to $7.23 billion, a record in the company’s history and surpassing the unanimous estimate of $6.36 billion.

This dramatic increase is due to the reopening of recreational parks after the end of the closures introduced to contain the pandemic.

Walt Disney stocks rose 8 percent in additional trading on Thursday.

The company’s capitalization has fallen by 8% since the beginning of the year, while the Dow Jones Industrial Index lost 2% during this period.

Brent is stable above $91.5 .. and West Texas Intermediate is close to $90

Oil prices did not change in practice during Thursday trading, with investors assessing data on US fuel reserves.

The cost of Brent crude futures for April on the London Futures Exchange on Thursday is $91.55 per barrel,
which corresponds to prices at the close of the previous session.

As a result of Wednesday’s trading, these futures increased by $0.77 (0.9%).

The price of West Texas Intermediate crude futures for March in electronic trading on the New York Mercantile Exchange (NYMEX) is $89.73 per barrel,
$0.07 (0.08%) higher than the final value of Wednesday’s session.

The day before, these futures rose by $0.30 (0.3%) to $90.58 per barrel.

Department of Energy data released yesterday showed US oil reserves declined in the week ending February 4 by 4.76 million barrels.

In the meantime, experts surveyed by Bloomberg predicted an increase of 1.5 million barrels.

Gasoline inventories fell by 1.64 million barrels and distillates by 930 thousand barrels.

In the meantime, quantities at the Cushing terminal, where oil traded on the New York Stock Exchange is stored, fell by 2.8 million barrels.

The United States oil production rose by 100 thousand barrels per day to 11.6 million barrels per day.

The DOE report indicates that US oil production and refining was not affected by the severe cold that hit Texas and the Midwest,
DTN chief analyst Troy Vincennes said in an interview with MarketWatch. 

He added that the decrease in net imports by more than 1.4 million barrels per day was the main reason for the process of removing the inventory.

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