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Thursday, August 6, 2020

====Uber (UBER) reported earnings on Thur 6 Aug 20 (a/h)


  • Aug.3: #20, 29; vol. 17M  -->  +11%



Uber (UBER) reported second-quarter earnings late Thursday that missed estimates by a wide margin, though revenue beat. Uber stock fell.

The company reported an adjusted loss of $1.02 per share on revenue of $2.24 billion. Wall Street expected a loss of 81 cents on revenue of $2.08 billion. The provider of ride-sharing and food delivery services has yet to show a profit. Revenue fell 29% from the year-ago period.

Uber stock initially fell 4.4%, then recovered some ground. It was down 2.5%, near 33.85, during after-hours action on the stock market today.

Gross bookings fell 35% from the year-ago period to $10.2 billion. Wall Street expected gross bookings of $10.5 billion.

Gross bookings of its Uber Eats food-delivery service jumped 106% to $6.96 billion. That beat estimates of $6.57 billion.

Gross bookings at its ride-sharing unit plunged 75% to $3.05 billion. That was below estimates of $3.47 billion, as the pandemic continued to limit people's travel and commuting.

It was the first time Uber Eats outperformed its ride-sharing business. That's due to changes in consumer patterns amid the pandemic.

Ride-Sharing Comes To Screeching Halt
In July, Uber said gross bookings for its ride-share business plunged 75% during the second quarter from the year-ago period. Ride-sharing came to a screeching halt for both Uber and its rival Lyft (LYFT) as the global lockdown went into effect in early March.

Both companies slashed payrolls. Lyft announced plans to cut nearly 17% of its workforce, along with salary cuts for executives. Uber cut 14% of its workforce. Meanwhile, Uber Chief Executive Dara Khosrowshahi agreed to waive his base salary for the rest of the year.

Axon (AAXN) reported earnings on Thur 6 Aug 20 (a/h)

** charts before earnings **



 





** charts after earnings **




Axon misses by $0.17, beats on revs; guides Q3 revs below consensus

  • Reports Q2 (Jun) loss of $0.01 per share, $0.17 worse than the S&P Capital IQ Consensus of $0.16; revenues rose 25.7% year/year to $141.26 mln vs the $133.36 mln S&P Capital IQ Consensus.
  • Co issues downside guidance for Q3, sees Q3 revs of about +15% yr/yr or $150.46 mln vs. $151.34 mln S&P Capital IQ Consensus.
  • Editas Medicine (EDIT) reported earnings on Thu 6 Aug 20 (a/h)

    ** charts before earnings **

    a) Aug. 3: vol. 1.1M $31 -->  +20%


     








    ** charts after earnings **


    Editas Medicine beats by $0.39, beats on revs; provides update; Regains full control of ocular medicines under new agreement with AbbVie
    Reports Q2 (Jun) loss of $0.43 per share, $0.39 better than the S&P Capital IQ Consensus of ($0.82); revenues rose 361.3% year/year to $10.75 mln vs the $6.34 mln S&P Capital IQ Consensus.
    • Regained full control of ocular medicines under new agreement with AbbVie (ABBV).
    • BRILLIANCE trial for EDIT-101 on track to dose at least three patients by end of 2020.
    • Plan to file IND for EDIT-301 for sickle cell disease by end of 2020.
    Editas Medicine regains full global rights to research, develop, manufacture, and commercialize its ocular medicines, including EDIT-101 for the treatment of Leber congenital amaurosis 10
    • These medicines were previously shared within a strategic research and development alliance with Allergan, which has since been acquired by AbbVie. Editas Medicine and AbbVie have terminated the original agreement and entered into a new agreement.
    • J.P. Morgan Securities LLC is serving as exclusive financial advisor to Editas Medicine.

    -=Alteryx (AYX) reported earnings on Thur 6 Aug 20 (a/h)



    Alteryx beats by $0.16, beats on revs; guides Q3 EPS in-line, revs below consensus; guides FY20 revs below consensus
  • Reports Q2 (Jun) earnings of $0.02 per share, excluding non-recurring items, $0.16 better than the S&P Capital IQ Consensus of ($0.14); revenues rose 17.3% year/year to $96.2 mln vs the $94.11 mln S&P Capital IQ Consensus.
  • Co issues guidance for Q3, sees EPS of $0.09-0.14, excluding non-recurring items, vs. $0.13 S&P Capital IQ Consensus; sees Q3 revs of $111-115 mln vs. $119.30 mln S&P Capital IQ Consensus.
  • Co issues downside guidance for FY20, sees FY20 revs of $460-465 mln vs. $505.14 mln S&P Capital IQ Consensus.

  • -=Conduent (CNDT) reported earnings on Thur 6 Aug 20 (a/h)



    Conduent beats by $0.17, beats on revs; guides Q3 revs mostly above consensus
  • Reports Q2 (Jun) earnings of $0.12 per share, excluding non-recurring items, $0.17 better than the S&P Capital IQ Consensus of ($0.05); revenues fell 8.6% year/year to $1.02 bln vs the $925.5 mln S&P Capital IQ Consensus.
  • Co issues in-line guidance for Q3, sees Q3 revs of $0.960-1.01 bln vs. $962.50 mln S&P Capital IQ Consensus. Sees Adjusted EBITDA margin of between 10.0% and 11.5%.