Top Earnings Movers| NOK, T & PM Missed Estimates on EPS/Revenue

During Earnings Season, many companies released their reports. Some companies experienced roller coaster ride after the earnings release. 

You can find the stocks that rose or fell most in "Movers & Shakers" on Tiger Trade app.

In this article, we gonna brief four companies missed expectations: $AT&T Inc(T)$, $Nokia Oyj(NOK)$ , $Philip Morris(PM)$ and $American Express(AXP)$

1. $Nokia Oyj(NOK)$ -14.98% after EPS missed estimates

Finnish telecoms firm Nokia was down 15% after its EPS missed expectations despite its revenue did beat.

Adjusted EPS: $0.05 vs. $0.08

Revenue: $6.4bln vs.$6.2 bln

Disappointment came from its technology licensing business, but that it was close to a significant deal with Samsung and has ongoing litigation with smartphone makers OPPO and Vivo.

In its results, the company said it was seeing a slowdown in areas of customer spending.

Lundmark said there had been a slowdown in North America but strong growth in India, which accounted 15% of first-quarter sales versus 5% in 2022.

2. $AT&T Inc(T)$ -11.75% missed on revenue and postpaid subscribers

Shares of the telecommunications giant slid 11% after it posted a beat on adjusted earnings but missed on revenue. The company was able to grow its subscribers, adding 424,000 postpaid phone plans, which matched Wall Street’s expectations.

Adjusted EPS: 60 cents vs. 59 cents expected. It was down nearly 5% from a year earlier.

Revenue: $30.1 bln vs. $30.2 bln

AT&T added 691,000 postpaid phone subscribers in the year-earlier period. Subscriber growth is expected to slow for T-Mobile US (TMUS) and Verizon Communications (VZ) as well.

 Analysts’ ratings:

27 analysts gave an average rating for $AT&T Inc(T)$ of $21.3.

3. $Philip Morris(PM)$ -4.73% as revenue missed expectations

Philip Morris International PM was falling in Thursday trading after first-quarter revenue missed expectations.

Adjusted EPS: $1.38 vs. $1.34

Revenue: $8 bln vs. $8.1 bln.

The maker of Marlboro cigarettes reported adjusted earnings per share of $1.38, compared with the $1.34 consensus among analysts polled by FactSet. But revenue came in at $8 billion, below estimates for $8.1 billion.

 Analysts’ ratings:

19 analysts gave an average rating for $Philip Morris(PM)$ of $113.22. (its current stock price was $96, below the analysts average target price)

4. $American Express(AXP)$ fell 1% after EPS fell short

The credit card company’s shares fell 1% after the firm reported an earnings miss. American Express first-quarter earnings disappointed as the company braced for debt struggles among credit card holders, even as revenue soared to an all-time high.

Adjusted EPS: $2.40 vs. $2.66 

Revenue: $14.28 bln vs. $$13.98 bln

American Express posted earnings per share of $2.40 for the first quarter, below an estimate of $2.66, per Refinitiv. It was also down from $2.73 a year ago.

Revenue did beat expectations, however, was $14.28 billion, up from 11.74 billion in the first quarter of 2022. It beated the expectations of $13.98 bln.

 Analysts’ ratings:

27 analysts gave an average rating for $American Express(AXP)$ of $180. (its current stock price was $163, also below the analysts average target price)

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