3 Stocks to Watch on Wednesday: CarGurus Inc (CARG), MACOM Technology Solutions Holdings Inc (MTSI) and YY Inc (ADR) (YY)

CARG has strong initial quarter, MTSI guidance disappoints and YY revenue tops estimates

Most major indices posted slight losses on a meek day for energy stocks, which fell 1.2%, while utilities gained 1.6%. The S&P 500 Index fell 0.2%, the Dow Jones Industrial Average declined 0.1% and the Nasdaq Composite slipped 0.3%.

3 Stocks to Watch on Wednesday: CarGurus Inc (CARG), MACOM Technology Solutions Holdings Inc (MTSI) and YY Inc (ADR) (YY)In Tuesday’s after-hours earnings news, CarGurus Inc (NASDAQ:CARG), MACOM Technology Solutions Holdings Inc (NASDAQ:MTSI) and YY Inc (ADR) (NASDAQ:YY) all reported their latest results.

Here’s how they did:

CarGurus Inc (CARG)

It was CarGurus first earnings report since going public, and the company impressed.

The company said that its third-quarter earnings came in at two cents per share, beating analysts’ projections, according to data compiled by Thomson Reuters and surging year-over-year.

Revenue was also a strong point for CarGurus as the company raked in $83 million, topping the average analyst guidance of $79.2 million. It was a 56% increase year-over-year.

“We are very pleased with our third-quarter results, which are highlighted by robust top line growth and ongoing profitability,” Langley Steinert, CarGurus’ founder and CEO, said in a prepared statement.

CarGurus also updated its guidance for the fourth quarter, unveiling expectations in the range of a penny to two cents per share, compared with the Thomson Reuters projection of a penny per share.

On the revenue front, the company sees its outlook as being between $85 million and $86 million, ahead of the revenue forecast of $82.48 million.

CARG stock skyrocketed 10.5% after hours.

MACOM Technology Solutions Holdings Inc (MTSI)

MACOM Technology Solutions unveiled its latest results late yesterday.

It was not a good period for the company as it posted adjusted earnings of 46 cents per share, which was in line with analysts’ expectations. However, the company foresees the quarter as a turning point.

During its fourth quarter, MACOM Technology Solutions raked in $166.4 million in revenue, below the $170.3 million that the consensus estimate called for. The figure rose 9% year-over-year.

For the current quarter, the fiber optics solutions provider sees revenue in the range of $130 million to $136 million, missing the guidance of $171.3 million by quite a margin.

Earnings are slated to come in between 10 cents and 16 cents per share, compared to the Wall Street outlook of 46 cents per share.

“We expect the December quarter will be the bottom of the down-cycle in network infrastructure, which appears to be on the verge of turning,” declared CEO John Croteau.

MTSI stock dipped 5.1% after the bell Tuesday.

YY Inc (ADR) (YY)

YY shares were rising after the company reported its latest quarterly results.

For its third quarter, the social media platform used for streaming live content posted earnings of $1.59 per share on an adjusted basis. The figure beat analysts’ projection of $1.45 per share, and rising 41% year-over-year.

Revenue was also positive for YY as the company raked in $464.8 million, well ahead of the Wall Street consensus estimate of $423 million, according to Zacks Investment Research.

Its live streaming revenue gained 60.4%, its online games revenue fell 18.4% and its membership declined by 48% year-over-year. Its mobile live streaming monthly active user count soared 36.6%.

For its fourth quarter, YY sees revenue growing to $512.4 million to $527.5 million, above the Wall Street guidance of $498 million, and rising 45% year-over-year at the midpoint.

YY stock gained 2.9% after Tuesday’s market close.

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/2017/11/stocks-watch-wednesday-cargurus-inc-carg-macom-technology-solutions-holdings-inc-mtsi-yy-inc-adr-yy/.

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