Qualcomm, Alibaba, Aphira, Expedia Surged After Quarterly Results

The quarter ended with the rebound in travel spending, with Expedia was up +4.8 percent on Thursday beating consensus. Revenue fall 58% year-on-year to $1.5 billion, but the Seattle-based online tour operator is doing better than consensus, which stood at $1.39 billion. Gross bookings rose 68 percent to 8.6 billion dollars. The group, which withdrew its annual guidance in March as a result of the pandemic, announced an adjusted EBITDA of $304 million in the quarter, down 67%, with an adjusted per share loss of 22 cents. The consensus was a loss per share of 84 cents.

Aphria (+10.8 percent) announced the $300 million acquisition of artisanal brewer SweetWater Brewing, expanding its U.S. business to become the first manufacturer of cannabis to enter the market for alcoholic drinks.

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Qualcomm (+13 percent) expects revenue beyond expectations, with sales growth likely to hit more than half a billion units next year for 5G-enabled smartphones. So the chip designer is expected to be blazing out on Wall Street today. Qualcomm posted sales of $6.5 billion up 35 percent for the September quarter after the market close, up 86 percent to $1.45 for adjusted earnings per share. The company expects revenues to range from $7.8 billion to $8.6 billion for the December quarter, with adjusted EPS ranging from $1.95 to $2.15. There was a consensus of $7.14 billion in sales and $1.69 in EPS. Guidance suggests a revenue rise of 62 per cent and a doubling of earnings.

The Chinese e-commerce giant Alibaba (-2.3 percent), which recently suffered from the postponement of the Ant Group IPO, today posted a profit above estimates for the closed quarter. In the fiscal second quarter company’s revenue rose 30 percent year-on-year, with sales in China at $22.84 billion that came in line with industry consensus. Net quarterly profit was 28.8 billion yuan, 10.48 yuan per ADS, up from the previous year’s 72.54 billion yuan. On an adjustment basis, against a FactSet consensus of 13.82 yuan, EPS increased to 17.97 yuan per share. 757 million annual active users are claimed by Alibaba.

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