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Earnings Calendar (Feb. 22 – 26, 2021): Airbnb, Nvidia, Moderna, and Canadian Banks

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Airbnb – Despite travel restrictions and economic lockdown, new Airbnb hosts have earned $1 billion during the pandemic, according to the company’s latest report [1]. The gross booking has recovered to pre-pandemic levels because people use Airbnb rental for work and studying to avoid distraction at home. In 2019, the company reported $38 billion in gross booking with an estimated total addressable market of $3.4 trillion.

DoorDash – The online food delivery company was one of the most sought-after IPOs in 2020 as demand has grown rapidly due to restaurant closures during the pandemic. Meanwhile, DoorDash is facing strong competition from Uber and Grubhub due to competitive pricing and weak differentiation. However, the total gross order value has grown significantly from $2.8 billion in 2018, $8 billion in 2019 and expects to hit $24 billion in 2020.

Square – The stock has gained nearly 600% since the market hit bottom in March 2020 and surpassed its digital payment rival Mastercard. Its Cash App now included the Bitcoin trading function and accounted for half of the revenue. The company added $50 million worth of Bitcoin in Oct. 2020 into its balance sheet. The timing was great as Bitcoin now reached $1 trillion in market capitalization.

Salesforce – The cloud-based customer relationship management (CRM) company has doubled its sales over three years with $10.4 billion of revenue in 2018 and $20.2 billion for the nine months of 2020. The company has a strong track record in smart acquisitions, including Tableau for $15.7 billion and Slack for $27.7 billion. Based on the latest management update, the company projects annual revenue of $50 billion in 2026.

Nvidia – The demand for GPU (Graphics Processing Unit) for gaming and bitcoin mining was skyrocketing and caused a market shortage. It has resulted in production delays for game consoles like Sony PlayStation 5 and Microsoft Xbox. The company plans to ramp up production on its older graphic cards to mitigate shortage issues.

Moderna – The biotechnology company has spent the last couple of months producing the long-awaited coronavirus vaccine. The company will deliver 18 million doses to the US government and 150 million doses to the European Union for $15 per dose. The coronavirus vaccine will contribute about $11.7 billion in revenue.

Etsy – The e-commerce company managed to find a niche in the online shopping market for artisan products and craftsmanship. Nearly 3.7 million small business merchants use the website and attract almost 70 million buyers. The platform thrives during the pandemic as it provides cost-saving, convenience, and new markets for small business owners to sell their unique products. However, the intense competition from Amazon and Shopify will hinder its future growth.

Intuit – The financial software company that operates Turbo Tax, Mint, and QuickBooks, reported $6.8 billion in revenue last year. The company has expanded into cloud-based analytics, payroll services, and small business accounting through acquisitions. The stock gained nearly 40% over a year ago and performed better than S&P 500 index.

Wayfair – The home furnishing e-commerce platform reported strong performance during the pandemic with $10.5 billion of sales in the nine months of 2020, compared to $6.6 billion the previous years. The company projects a strong earning in the fourth quarter with an estimation of $3.74 billion.

Draft Kings – The stock jumped 16% in January following a massive rally in 2020. The sports betting operator secured more markets in the Mid-Western US and East Coast, bringing the overall presence to 12 US States. The company raises its earnings outlook to $560 million in revenue in 2020 and up to $850 million in 2021.

Home Depot – The low-interest rate and working from home have motivated many people to start home improvement during the pandemic. Home Depot reported a 23% sales increase in the third quarter with a total of $18 billion in revenue for the first nine months in 2020. The company has the highest operating margin among its peers, including Lowe’s, Wayfair, and Target.

Li Auto – The Chinese electric carmaker’s stock jumped nearly 12% in January after reporting healthy vehicle deliveries. However, the competition remains strong against Chinese rivals like NIO, Xpeng, and global players like Tesla, GM, and Ford. The company focuses on product diversification to attract a wider audience.

RBC – The largest Canadian bank reported a 21% earnings decline in personal and commercial banking, as well as a 15% drop in profit for its wealth management business. The pandemic has put significant pressure on the banking sector as corporate clients struggle to survive and more people use fewer banking services.

TD – The stock is paying a 4.2% dividend yield, the highest among Canadian banks. TD has a better position than other banks amid the challenging macro-environment conditions driven by the Coronavirus crisis.

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Written by Hivelr News
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