Earnings Candlesticks 🕯

Video game software developer Unity probably wishes it could reload its last saved checkpoint after reporting another quarter of lackluster earnings. 👾

Although revenues of $609 million topped expectations of $451 million, management noted revenue would have been $510 million if its deferred revenues were not released. Meanwhile, the company’s net loss of $0.66 was narrower than last year’s $0.82 but still much higher than analysts’ $0.46 per share expectation. 🔺

Today’s action shows that BJ’s may have a branding problem in the retail investing community. Despite the company’s results topping expectations today, sentiment readings from are community are still weaker than you’d expect. 🤔 

BJ’s Wholesale Club revenues grew 8.70% YoY to $5.357 billion, with adjusted earnings of $1.11 per share. While earnings topped expectations, revenue was slightly below, with executives citing an uncertain macroeconomic environment as the primary driver.

The current market environment has not been kind to renewable energy stocks like electric vehicle makers or solar manufacturers. And that trend continued today with lackluster earnings results. 👎

Rivian kicked it off by saying that it’s laying off 10% of its workforce due to EV pricing pressures. Although it built and shipped more than double the vehicles it did in 2022, its 2023 losses still totaled more than $5.40 billion. 🪫

One of the core themes we’ve been discussing for a long time is the “ad-ification” of everything. No matter where you go or what you do, you’re likely being targeted by some form of advertising. And the reason why is because it’s such a high-margin, profitable business opportunity. 🎯

As a result, it’s no surprise to see America’s largest employer and big-box retailer, Walmart, leaning heavily into that narrative during its earnings call.