Quarterly earnings season is in full swing, with several big name companies putting out earnings reports this week. While many businesses are hurting during COVID-19, the pandemic and stay-at-home orders have seemingly created opportunity for others. Below we’ve compiled a list of several companies who have seen a positive impact on earnings over the last quarter as their businesses became invaluable to consumers stuck at home.
“Peloton has proven to be one of the few public stocks to find an opportunity in the COVID-19 pandemic, as user growth surges due to gym closures and shelter-in-place orders. Peloton aimed to seize on the opportunity, boosting sales and marketing expenses by 53%, to $154.8 million in Q3.”
“The world has kind of moved from physical to digital, and digital payments have gone from a nice to have capability to a must-have service,” Schulman said in an interview. “That’s the story that came out of April.”
“PayPal said it sees sales growth of about 13% in the current period and an increase of as much 20% in adjusted earnings per share. Wall Street had been forecasting a revenue increase of 7% and a 2% bump in profit, according to data compiled by Bloomberg.”
“Shopify, which belongs to the Zacks Internet – Services industry, posted revenues of $470 million for the quarter ended March 2020, surpassing the Zacks Consensus Estimate by 5.94%. This compares to year-ago revenues of $320.48 million. The company has topped consensus revenue estimates four times over the last four quarters.”
“Our goal to connect the world through epic entertainment is more important to our players than ever before,” said CEO Bobby Kotick in a statement.
“We delivered strong financial results for the first quarter, and are raising our full-year outlook. I have been awestruck by the strength of our employees and their families during this difficult time.”
“We believe that AMZN is perhaps the only company that can service customers this well with scale & effectiveness during the crisis,” wrote Anmuth. JPMorgan also thinks these costs will ease going forward, to $2 billion in the third quarter and $1 billion in the fourth quarter.
What other companies do you think will see increased revenues due to a COVID-19 surge on their services? Let us know in the comments below.