BYND Ridiculous? Breaking Down Amazon, Alphabet Earnings and Beyond Meat
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Happy Fri-yay!
Jim Cramer has the morning off.
So Real Money's Kevin Curran will be filling in. And, if you caught TheStreet's Facebook Live show Thursday morning, it's Curran's final day at TheStreet so, not only does he get to call Cramer "Jim" instead of "Mr. Cramer," he is also getting to fill Cramer's shoes.
At least for a day.
Curran's going to be weighing in on the earnings that the market received after the bell last night from Amazon (AMZN) - Get Report , Alphabet (GOOGL) - Get Report , and Starbucks (SBUX) - Get Report . And, of course, and there seems to be no stopping Beyond Meat (BYND) - Get Report .
Let's Start With Google
Real Money Alphabet's earnings impressed the Street last night.
The company reported second-quarter earnings of $14.21 a share, smashing estimates of $11.30. Revenue came in at $38.9 billion, which topped Wall Street forecasts of $38.15 billion.
And there was a little bit of a surprise when Google CEO Sundar Pichai disclosed that Google Cloud has an annual run rate of $8 billion. The metric is not one that the company normally discloses, however, the company has been talking about the Cloud Platform's progress in more qualitative terms.
The disclosure from Alphabet, which is usually more ambiguous on quarterly earnings calls, was applauded by analysts eager for more details on the breakdown of Alphabet's business performance.
Should analysts start expecting the annual run rate for Google Cloud?
And Then There Was Amazon...
Amazon didn't earn any outright applause for its quarter.
The company reported a profit loss for the first time in eight quarters, or two years.
The company reported second-quarter earnings-per-share of $5.22, falling short of expectations of $5.57 a share. Revenue came in at $63.4 billion, beating expectations of $62.5 billion.
And Amazon Web Services--Amazon's cloud service--reported revenues of $8.38 billion, which fell short of expectations of $8.5 billion.
Amazon CFO Brian Olsavsky on the earnings call stressed how the whiff was caused by 1-day shipping.
Following this profit miss, is Amazon's focus on 1-day shipping signaling that it is diving back into investing mode? Here's what Curran thinks.
Is Beyond Meat Getting BYND Ridiculous?
The company reported earlier this week that it was teaming up with Dunkin' Brands (DNKN) - Get Report to bring customers in Manhattan meat-free sausage, egg and cheese sandwiches.
But the company now has a market cap of $13.4 billion dollars. And it's up over 700% since it IPO'd in May.
It's set to report earnings on Monday, July 29.
Would Curran get into the Beyond craze?
About today's co-host:
Related. Alphabet Shares Soar After Excellent Earnings Results
This article has been updated to clarify that the $8 billion run rate announced by Google CEO Sundar Pichai encompasses the entirety of Google Cloud.