3 Stocks to Watch on Wednesday: Apple Inc. (AAPL), Electronic Arts Inc. (EA) and Match Group Inc (MTCH)

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Tuesday proved to be yet another weak day for U.S. equities, including a 0.9% from industrials, while gold surged 1.3%. The S&P 500 Index fell 0.1%, the Dow Jones Industrial Average posted a 0.5% loss and the Nasdaq Composite gained a fraction of a percentage.

3 Stocks to Watch on Wednesday: Apple Inc. (AAPL), Electronic Arts Inc. (EA) and Match Group Inc (MTCH)Several companies reported their quarterly earnings data Tuesday, including Apple Inc. (NASDAQ:AAPL), Electronic Arts Inc. (NASDAQ:EA) and Match Group Inc (NASDAQ:MTCH).

Here’s what you should know:

Apple Inc. (AAPL)

Apple posted an impressive report regarding the company’s latest financial period.

The cold did not seem to affect the tech giant as the three winter months amounted to revenue of $78.4 billion, topping the $77.38 billion that analysts were expecting. The figure marked a 3.3% rise year-over-year.

The strong statistic was fueled in part by Apple’s iPhone 7 sales, which were especially strong, topping the total from the previous month. The company sold 78.29 million iPhones in its fourth quarter.

The figure was nearly 5% higher than the previous year, or about 4 million more than it sold in 2015’s fourth quarter. The company’s iPhone business makes up about 69% of its revenue for the quarter.

iPad sales were weaker for Apple to end fiscal 2016, falling by 22% to $5.5 billion, which suggests that the newer iPad Pro models are not as hot as the company hoped they would be.

Mac computers were 7% higher over the same quarter of 2015, amounting to $7.24 billion.

AAPL stock boomed 3% after hours.

Electronic Arts Inc. (EA)

Electronic Arts continues to be among the leaders of the video game industry, with earnings coming in ahead of expectations.

In the holiday quarter, the company revealed a revenue gain of 7% compared to the same period in 2015. Adjusted revenue came in at $2.07 billion, which was a 15% rise.

Earnings for the company amounted to $2.48 a share on an adjusted basis, which was 36% stronger than the same figure in 2015.

The continuing success of the FIFA franchise was a bright spot for EA, but Battlefield 1 and Titanfall 2 were among the most touted games of the period and they brought in mixed results.

Battlefield 1 was the strong point of the period for the company, while Titanfall 2 sales missed the mark. Revenue from FIFA’s Ultimate Team feature was 22% higher year-over-year.

Revenue for the current quarter is expected to come in at $1.48 billion, while earnings are slated to be in the range of $1.64 per share.

EA shares fell 1.7% after Tuesday’s market close.

Match Group Inc (MTCH)

Match Group shares were lower on the company’s fourth-quarter data.

In its three months that ended the fiscal year 2016, the company saw revenue rise 19.5% year-over-year to $319.7 million, resulting in earnings of 29 cents per share.

Analysts were calling for revenue $320.8 million and 24 cents per share. The “paid member count” (PMC) of Match Group was 23% higher year-over-year to 5.7 million. Revenue per paid user was flat at 53 cents, surging 1% in North America but falling 1% elsewhere.

In fiscal 2017, the company is hoping to see revenue in the range of $1.26 billion to $1.305 billion, weaker than the consensus estimate of $1.408 billion.

MTCH stock slipped 5.6% after the bell yesterday.

As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2017/02/wednesday-apple-inc-aapl-electronic-arts-inc-ea-match-group-inc-mtch/.

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