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Omar Venerio
Omar Venerio
Articles (1319) 

3 Winning Stocks on Friday

Financial results positively impacted stock prices

February 02, 2018 | About:

In Friday premarket trading, shares of Viavi Solutions Inc. (NASDAQ:VIAV) jumped in premarket trading after the company reported second-quarter earnings of 9 cents per share on $201.8 million in revenue, beating earnings estimates by two cents  and  revenue expectations by $16 million. Revenue, however, declined 2.3% year over year.

Moreover, the GAAP operating margin was 1.8%, down 140 basis points year over year. The non-GAAP operating margin was 12.6%, down 40 basis points year over year.

President and CEO Oleg Khaykin “anticipate[s] continued strength in network test spending and broader 3D Sensing product adoption in calendar 2018."

Shares of Tableau Software Inc. (NYSE:DATA) gained more than 10% after the company reported fourth-quarter earnings of 12 cents on $249.4 million in revenue, which was down from $250.7 million in the prior-year quarter.The company beat earnings estimates by 9 cents per share and revenue expectations by $8.72 million.

Moreover, the company repurchased 284,851 shares for a total of $20 million. At the end of the year, it had $100 million remaining under its previously authorized repurchase program.

For the year, the company reported total revenue of $877.1 million, up from $826.9 million in 2016. Total annual recurring revenue increased 45% to $596.2 million, and subscription annual recurring revenue increased 235% to $195.5 million. The GAAP operating loss was $191.0 million, compared to a loss of $139.6 million in 2016. GAAP net loss for 2017 was $185.6 million, or $2.35 per diluted common share, compared to a GAAP net loss of $144.4 million, or $1.92 per diluted common share, for the previous year.

Shares of GoPro Inc. (NASDAQ:GPRO) gained on Friday despite falling short of estimates. The company reported a fourth-quarter loss of 30 cents on revenue of $334.8 million. Shares initially traded lower before reversing upward.

"The fourth quarter demonstrated there is significant demand for GoPro products at the right price," founder and CEO Nicholas Woodman said. "Our opportunity in 2018 is to marry consumer demand for GoPro with new, higher margin cameras launching in the second half that will appeal to existing and new consumers. We are also focused on growing GoPro's subscription service, Plus, and launching new initiatives as subscription becomes an increasingly important focus for our business."

Further, the company strengthened its balance sheet. GoPro ended the year with $247 million in cash and marketable securities.

For the current year, the company expects non-GAAP operating expenses below $400 million, which represents a reduction of more than $300 million since 2016.

Disclosure: The author holds no positions in any stocks mentioned.

About the author:

Omar Venerio
Omar Venerio is a capital markets, derivatives, corporate finance and financial management professor. He is passionate about the stock market and providing independent fundamental research and hedge fund and insider trading-focused investigation.

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