Why Reddit Shares Jumped 45% Today
Reddit hits a new high with its first profitable quarter and strong Q3 growth
Fox Corporation (FOXA) is gearing up to release its earnings report for the quarter ending September 2024 on November 4, 2024. Analysts are optimistic, projecting a year-over-year increase in earnings driven by higher revenues. The upcoming report is crucial as it could significantly influence the stock's performance based on how actual results align with expectations.
Fox is expected to report quarterly earnings of $1.12 per share, which indicates a modest growth of 2.8% year-over-year. This anticipated increase in earnings is attributed to a projected revenue of $3.37 billion, marking a 5.2% rise from the previous year’s quarter. The stability in EPS estimates over the past 30 days suggests that analysts have reassessed their predictions, reflecting a consensus view on the company's performance.
The earnings report is not just a routine update; it holds the potential to sway investor sentiment and stock price. If Fox exceeds the earnings expectations, it could lead to a positive movement in the stock price. Conversely, failing to meet these expectations may result in a decline. Investors are particularly keen on the management's commentary during the earnings call, as it will provide insights into the company's future outlook and business conditions.
To gauge the likelihood of an earnings surprise, analysts often utilize the Zacks Earnings ESP (Expected Surprise Prediction) model. This model compares the Most Accurate Estimate to the Zacks Consensus Estimate. A positive Earnings ESP indicates a higher probability of an earnings beat, especially when combined with a strong Zacks Rank (1-3). Historical data shows that stocks with a positive Earnings ESP and a solid Zacks Rank have a nearly 70% chance of delivering a positive surprise.
As Fox prepares to unveil its earnings next week, all eyes will be on the results and the management's insights. The anticipated growth in earnings and revenue reflects a positive outlook, but the actual performance will ultimately determine the stock's trajectory. Investors should stay tuned for the earnings call, which will shed light on the company's future direction and market conditions.
Reddit hits a new high with its first profitable quarter and strong Q3 growth
Tesla is facing a challenging year, with its upcoming earnings report expected to reflect ongoing struggles, including declining stock performance and profit margins.
Wall Street's main indexes rise as bank earnings exceed expectations, while uncertainty surrounds China's economic stimulus plans.
We're just a bunch of guys mixing up market news with our own brand of banter, giving you the lowdown on stocks with a twist at Walk The Street Capital.