Jump to content

US earnings preview: Disney, Uber


MongiIG

Recommended Posts

As earnings for the fourth quarter wind down, two stocks are worth considering, both report on Wednesday and both trade all-sessions: Disney and Uber Tech.

 Jeremy Naylor | Writer, London | Publication date: Monday 06 February 2023

US earnings peak

We've now passed the peak of the US earnings season for the fourth quarter (Q4).

The market is still awaiting a few big numbers to come this week. And let's start first of all, with tomorrow. We've got Hertz Global. Wednesday we've got Walt Disney and Uber Technologies. Thursday, Philip Morris International. PepsiCo and Lyft.

Walt Disney chart

But let's take a look in some detail, a couple of those stocks I wanted to take a look at what's going on with Walt Disney, first of all, at the upcoming results to be published on Wednesday after the US markets closed.

This will mark the first quarter with Bob Iger back at the helm. This is the chart for Disney. The vertical dotted line is the point at which Bob Iger came back into the business and you can see a bit of weakness following on from that. We've seen liftoff since the lows that we had back on 29 December.

It has been a storming start to 2023 for the stock of Disney. And this line here, which is the high that we saw in trade last Thursday at 11360, when it reports earnings on Wednesday that the stock, if it does see some strong earnings coming through, I can easily see this area of resistance being beaten and we'll have to see what happens.

Bob Iger was called back following the immediate dismissal of Bob Chapek. Iger had previously served as CEO of the group from 2005 to 2020. So far as the numbers are concerned, analysts expect earnings of $0.79 a share on revenues of $23.3 billion. Subscription numbers for Disney+, Hulu and ESPN will again be the main focus of the event I suspect.

The Group's Parks and Recreation Services had a big return to growth in 2022 as people came back out after the lockdowns and markets will be looking to see whether the group managed to keep momentum going.

Uber chart

The other chart I think it's worth looking at is that of Uber Technologies and indeed on Friday we have seen this move up that we saw at the back end of last week, the highest intraday print since the 15th of September. And the best close that we've seen in five months for Uber technologies.

Uber recorded a net loss of $1.2 billion, $512 million of which was attributable to revelations of equity investments. However, the company beat estimates for revenue, which grew by 72% year-over-year and reported adjusted EBIDTA exceeded its guidance of $440 million to $470 million. So I think that's a good reason to look positively into these numbers.

As for the fourth quarter, the market expects a loss per share of $0.18 on revenues of almost $8.5 billion. The market will also be closely looking for the number of monthly active users, the number of trips and the number of customers who have subscribed to Uber 1. So some of the data points to watch out for for those two companies reporting earnings on Wednesday.

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • Demo account: Please note that conditions on demo accounts may differ from real accounts. Some brokers may only provide overnight loans on real accounts and not on demo accounts.
    • Swap Rate: Check the swap rates for your open positions. Overnight loans are calculated based on the difference between the interest rates of a currency pair, and if the difference is small or negative, you will not receive a loan.
    • Civic (CVC) emerges as a game-changer in the realm of identity verification, offering a secure and decentralized solution for payment verification between "Identity Verifiers" and "Identity Requesters" within the Civic ecosystem. With its innovative approach and recent developments, Civic is making waves in the cryptocurrency market Payment Verification: Civic's primary use case lies in facilitating payment verification between parties within the Civic ecosystem. By leveraging blockchain technology, Civic provides a secure and transparent method for verifying identities and ensuring trust in transactions.  Integration with Solana Token Extensions: Civic's recent announcement on X revealed that Civic Pass is now integrated with Solana Token Extensions, further enhancing its utility and interoperability within the blockchain ecosystem. This integration opens up new possibilities for Civic's application and adoption.  Civic (CVC) is now listed on Bitget  and other CEX providing users with convenient access to trade and engage with the token. This listing further enhances Civic's visibility and liquidity, attracting new users and investors to the ecosystem. 
×
×
  • Create New...
us