Following the results, the stocks of eBay and Bath & Body Works went up in the green. Despite Booking Holdings’ strong quarterly results, the company’s stock price dropped. Investors may have feared that Russia’s annexation of Crimea would have a negative impact on the global travel industry as a result of the ongoing conflict between Russia and Ukraine. Hertz Global Holdings, Inc. (the car rental company) and Moderna Inc. (the biotechnology firm) both reported third-quarter earnings results as well.
Insider Monkey highlights the 10 companies that topped profit expectations. Thursday, February 24, was a banner day for DigitalOcean Holdings in the stock market after the company surprised investors with a strong fourth-quarter performance. An adjusted profit of 10 cents per share was posted by the cloud infrastructure provider based in New York, exceeding expectations. It’s safe to say that NetApp, Inc.’s fiscal third-quarter earnings were better than expected. However, the company’s profit forecast for the upcoming quarter was lower than anticipated. On Thursday, February 24, its shares dropped to a nearly six-month low after the company issued a weak outlook. Elevated by over 8% on Thursday, Elanco Animal Health Incorporated’s shares for the fourth quarter exceeded expectations. The company’s revenue for the third quarter decreased by 2% year over year to $1.11 billion, but it still exceeded analysts’ expectations. Insulet’s stock rose on Thursday, ending the day higher. Adjusted earnings per share of the Massachusetts-based medical device company were 42 cents. Omnipod, the company’s most popular insulin infusion device, saw a 19.3% increase in revenue to $275.8 million. Adjusted earnings for Moderna, Inc. exceeded expectations by a wide margin. The company’s quarterly revenue soared from $571 million to $7.2 billion. For more details, click the 10 Companies That Topped Profit Expectations.
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