Earnings Previews: Barrick Gold, Datadog, Li Auto, UPS

After U.S. markets closed on Thursday, Apple beat consensus estimates for both earnings per share (EPS) and revenue, but revenue dipped by 1.4% year over year, the third consecutive quarter to see an annual dip in sales. Despite that, the company said that its installed base of iPhones and other devices reached an all-time high. For Apple’s fourth quarter ending in September, the company guided revenue down again year over year, while iPhone and services revenue will rise. In late morning action, shares traded down 2.8%.

Amazon hammered EPS forecasts by about 85%, and revenue beat the forecast by 2.2% and rose nearly 11% year over year. Revenue at the company’s cloud-computing division, AWS, nearly doubled compared to last year. Shares traded up 11.2%.

Airbnb also beat estimates on both the top and bottom lines. Revenue rose 18.1% year over year. The company issued in-line EPS guidance for the current quarter and said it expects full-year adjusted EBITDA margin to be somewhat higher than in 2022. The stock traded up 1.4%.

Block beat Wall Street’s top-line and bottom-line estimates on the strength of its Cash App business. Net revenue was up 26% year over year, but the outlook for adjusted EBITDA disappointed investors. Shares traded down about 12.2%.

Coinbase Global also topped estimated EPS and revenue totals, but revenue fell by more than 12% year over year. That likely is due to an SEC lawsuit filed in June alleging that the company is trading unregistered securities (crypto tokens). Shares traded essentially flat.

Livent beat the consensus EPS estimate by 8.5% but missed on revenue, even though revenue rose by nearly 8% year over year. The company reiterated fiscal year revenue guidance in a range of $1.025 billion to $1.125 billion. Shares traded up 3.8%.

No notable reports are due out Friday afternoon or Monday morning. Lucid, Palantir and Paramount Global are on deck to report quarterly results after U.S. markets close Monday.

Here is a preview of what to expect from four companies scheduled to report earnings before U.S. markets open on Tuesday.

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Barrick Gold

Over the past 12 months, the price of gold has risen by about 9.6%. Canada-based Barrick Gold Corp. (NYSE: GOLD) has seen its share price improve by around 8.7% over the same period. For the second quarter of the year, spot gold prices improved by about 4.5%. Year over year, demand from the spot market was up 44%, while demand from central banks fell by 35% and demand by the jewelry industry rose slightly. Jewelry accounts for just over half of global demand for the yellow metal.

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