Best Buy, Dick’s Sporting Goods, Zoom Video
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 23 November 2021
⏱️ 21 minutes
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Summary
Best Buy, Dick’s Sporting Goods, and Zoom Video all issue 3rd-quarter earnings reports with a similar pattern: better-than-expected results followed by shares falling. Asit Sharma analyzes all three and shares why he believes the short-term pain for shareholders should be buoyed by the strength of each business.
Transcript
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| 0:00.0 | It's Tuesday and November 23rd, welcome to Marketfoolery. |
| 0:05.6 | I'm Chris Hill with me today, our man in North Carolina, Osir Charma. |
| 0:10.3 | Good to see you. |
| 0:11.5 | Chris, good to see you, my friends. |
| 0:13.5 | I am so happy to be here in this great week right before Thanksgiving holiday with you. |
| 0:20.6 | Likewise, and selfishly, I like that earning season doesn't slow down just because we're |
| 0:26.8 | less than 48 hours from Thanksgiving. |
| 0:28.8 | We've got a trio of third quarter earnings reports. |
| 0:32.1 | We're going to start with Best Buy. |
| 0:34.8 | Profits in revenue were higher than expected, but shipping costs are on the rise. |
| 0:39.6 | Shares of Best Buy falling 16% this morning, although this is falling from an all-time high. |
| 0:48.1 | So I get that if you're a Best Buy shareholder, it's never good to see that amount of red. |
| 0:54.3 | Maybe the fact that a day ago, the stock was at an all-time high, it takes a little bit |
| 0:58.4 | of this thing out of it. |
| 1:01.8 | Chris, I am with you there at the same time. |
| 1:06.7 | Should we invoke the name of Rodney Dangerfield here? |
| 1:09.4 | I feel that Best Buy just doesn't get enough respect. |
| 1:13.9 | This is a company that now after today's fall in the stock prices trading at about 12 times |
| 1:20.0 | forward earnings. |
| 1:21.8 | The last time that you and I talked about Best Buy, this might have even been the last |
| 1:25.7 | quarter. |
| 1:26.7 | It's praising the way their business model has adapted. |
... |
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