Whew. It's earnings season and we're in the thick of it.
Jim Cramer is still out today, with plans to return before the end of the week. So, once again, Action Alerts PLUS senior portfolio analyst Jeff Marks has some big shoes to fill when it comes down to breaking down earnings.
Speaking of earnings...where to even start?
Jeff Marks, senior analyst for Jim Cramer’s Action Alerts PLUS charitable portfolio joins Katherine Ross talks GameStop (GME) - Get GameStop Corporation Report, Apple, Facebook, Tesla (TSLA) - Get Tesla Inc. Report, American Airlines, McDonald's and more:
Apple reported earnings of $1.68 per share, up 34.4% from the same period last year and well ahead of the Street consensus forecast of $1.41. Group revenues, Apple said, rose 21% from last year to a record $111.44 billion, again topping analysts' estimates of a $103.3 billion tally.
“This quarter for Apple wouldn’t have been possible without the tireless and innovative work of every Apple team member worldwide,” said CEO Tim Cook. “We’re gratified by the enthusiastic customer response to the unmatched line of cutting-edge products that we delivered across a historic holiday season."
Facebook reported fourth-quarter revenue of $28.07 billion with earnings of $3.88 per share. Analysts were expecting revenue of $26.4 billion with earnings of $3.22 per share
"We had a strong end to the year as people and businesses continued to use our services during these challenging times," said Mark Zuckerberg, Facebook founder and CEO. "I'm excited about our product roadmap for 2021 as we build new and meaningful ways to create economic opportunity, build community and help people just have fun."
McDonald's reported earnings of $1.84 per share, down 6.6% from the same period last year but 6 cents ahead of the Street consensus forecast. Stripping away a 14 cents per share benefit linked to the group's operations in Japan, the headline earnings figure was $1.70 per share. Group revenues, McDonalds said, fell 5.5% to $5.31 billion, just shy of analysts' estimates of a $5.37 billion tally.
"2020 will be remembered as one of McDonald's most challenging, yet inspiring, moments in our long history. The resilience of the McDonald's System was on display – making safety and service a priority, putting our customers and people first, and running great restaurants," said CEO Chris Kempczinski.
American Airlines reported an adjusted loss for the three months ending in December was pegged at $3.86 per share, down from a profit of $1.15 over the same period last year but inside Wall Street forecasts of -$4.11. Group revenues also topped analysts' estimates at $4 billion
“Our fourth-quarter financial results close out the most challenging year in our company’s history,” said CEO Doug Parker. “However, we couldn’t be prouder of the American Airlines team and the great things they accomplished last year. Through collaboration, resourcefulness and hard work, our team did its part to keep the economy moving. The American team flew more customers than any other airline in 2020, and they did so safely and with the utmost care.
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