“The most shocking earnings report since the pandemic began.”
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 27 August 2020
⏱️ 18 minutes
🧾️ Download transcript
Summary
Shares of Salesforce.com rise 26% after 2nd-quarter profits double Wall Street’s expectations. Digital sales in Dick’s Sporting Goods’ 2nd quarter rise 194%. Urban Outfitters reports a profit in the 2nd quarter sending the stock up more than 20%. Emily Flippen analyzes those stories and shares which one is the most surprising.
Transcript
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| 0:00.0 | It's Wednesday, August 26th. |
| 0:04.4 | Welcome to Market Fullery. |
| 0:05.6 | I'm Chris Hill with me today. |
| 0:07.8 | Once again, back by popular demand, Emily Flipping. |
| 0:11.2 | Thanks for being here. Thanks for having me. To the extent there |
| 0:14.6 | is a theme about the companies we're going to talk about today, it is they are |
| 0:20.0 | all out with earnings reports and all three of these stocks are up at least 15% today. |
| 0:27.0 | And I would say, well, I won't speak for you. |
| 0:31.0 | I'm surprised. I'm not surprised that they're up I'm surprised that they're up to |
| 0:35.8 | the extent that they're up so we'll get to them one by one and we'll start with |
| 0:39.7 | salesforce.com second quarter profits were more than double what Wall Street was expecting. |
| 0:46.5 | Sales Force's revenue year over year was up 29 percent. |
| 0:51.8 | That continues sort of the revenue growth that we saw the previous quarter |
| 0:56.8 | shares are up 26 percent right now and I was saying to you right before we started |
| 1:02.4 | I'm not I'm not surprised that it would be up. |
| 1:06.4 | I'm not surprised if it was up 10 to 15 percent. |
| 1:09.2 | This is a very large company. |
| 1:11.3 | Going into this report, this is a $200 billion company, it's now a $245 billion company. |
| 1:17.9 | We'll come back to the stock. |
| 1:21.8 | We'll come back to the stock. I'm sort of getting ahead of myself. |
| 1:24.4 | What did you think of the report itself? |
| 1:27.6 | The report itself was outstanding. As you mentioned, revenue grew nearly 30% year of a year to 5.15 billion dollars in the quarter. |
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