Well, you couldn’t get enough of me. “Two times in one day?” Yes, that is correct, but for very good reasoning. As I finalized my daily post “The close”, new information began creeping into the markets. I’m talking about major earnings reports. So major that it could not be left alone. We also had “investor day” for Disney, $DIS, that shot up the stock price after hours.
The first earnings report I would like to take you all through was Lululemon. Lululemon, $LULU, beat earnings expectations by a very large margin. The athletic company reported third quarter earnings of $1.1 billion, topping estimates. This was also up 22% higher than last year's third quarter report. E-commerce has certainly helped the company topping these estimates, as sales revenue grew by 19% in this quarter in North America. Lululemon also had reported that overall direct consumer revenue increased by 94%, which represents 42.8% of their revenue much higher than last year when it was at 26.9%. A full outlook of the company's 2020 will not be available due to uncertainty. Nevertheless, big demand increases for the products $LULU sells, which shows us this price has room to increase for certain. Oracle on the other hand, reported much slower revenue growth. Oracle, $ORCL, reported an EPS of $1.06 beating estimates by 0.06. Yet, their revenue has slowed. They did beat expectations in that respect, reporting $9.80 billion vs $9.79 billion expectations. The company claims there is demand in the cloud software sector, though they only grew at about 2% this quarter.
Disney, the land of fun, excitement, freedom, and massive growth in Disney+ subscribers? That's how it seems after a very successful showing at their investor day. Disney showed investors that their subscriber growth increased to 86.8 million. The company also indicated that 230-260 million subscribers by 2024. The company also unveiled various new programs and shows on their platforms. The stock ended up hitting an all time high after this news.