Facebook (FB) reported another blowout quarter with growth accelerating. Strength was across the board in all geographies. Earnings estimates for 2021 thru 2023 are moving up substantially. If this sounds like what we wrote for Alphabet and Apple that is a fact. You can add Amazon to the mix with a similar report. It is […]
While reviewing Apple’s (AAPL) 2Q21 earnings report, I mentioned to Tim that I could almost just repost the blog reviewing 1Q21 earnings. Just change the date and tweak it here and there. Tim astutely pointed out that consistency is a sign of a great company; it is also especially valuable in an era when tweets […]
When Sony reported 3Q20 results three months ago, the company sharply raised guidance for the fiscal year that ended in March. 4Q20 results met or slightly exceeded the new higher guidance. In conjunction with the latest report, Sony established a new three-year financial and strategic plan including guidance for the current quarter and fiscal year. […]
Alphabet (GOOG/GOOGL) reported another outstanding quarter with growth in revenues, operating income, and EPS easily beating elevated Wall Street estimates. This is the third straight quarter where GOOG has beaten Wall Street estimates. Importantly, overall revenue growth accelerated to 32% on a constant-currency basis from the impressive 23% growth rate in 4Q20. The string of […]
IBM reported a positive surprise in revenue and earnings per share for its 1Q21, an unusual occurrence over the last several years. Revenue of $17.7 billion was about $300 million ahead of consensus and guidance, the first beat on this metric since 2018. Gross margins, another trouble spot of late, also came in ahead of […]
We are moving from neutral on growth vs. value to all-in on value effective today. We are sticking with mid cap. As a result, for clients using Northlake’s thematic models, we have sold all client positions in the Russell 1000 Growth (IWF) and reinvested the proceeds into the Russell 1000 Value (IWD). There will be […]
Home Depot reported better than expected EPS, sales, and comp store sales, but had a small margin shortfall. The stock has reacted poorly to the results, but we remain bullish on the outlook. HD shares are unchanged since last summer even as quarterly earnings have consistently grown at 20%. This has led to a material […]
Nexstar Media Group (NXST) reported better than expected 4Q20 results despite elevated expectations. More importantly, guidance for free cash flow in the 2021/2022 cycle came in way above estimates. The 21/22 outlook validates the strategy that NXST has followed since we first became familiar with the company back in 2013. NXST management has steadily built […]
Disney (DIS) reported its first quarter under its new reporting structure which is designed to isolate the company’s three main businesses and especially highlights the Direct-To-Consumer (DTC) streaming businesses that are the future of the company’s media businesses. Results in the company’s 1Q21 were better than guidance and analyst expectations but are not a short-term […]
Activision Blizzard (ATVI) reported 4Q20 results roughly in line with Wall Street estimates that were above the company’s own guidance. More importantly, management provided initial 2021 guidance that was above analyst estimates and appears to be based on conservative assumptions. ATVI shares have been fantastic performers for Northlake over the years and had a particularly […]
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