Earnings Updates From Last Week

Pandora Earnings

On the earnings front, the last week saw disappointing quarterly numbers from three companies, which announced results during the last week. Pandora (NYSE:P), reported its quarterly results on August 22nd after market hours. Although the company reported a 55% increase in revenues on a YoY basis, the company failed to make any profits. The company increased its third quarter revenue guidance by $20 million and decreased its earnings estimate, a move which did not go down well with investors. The Pandora stock fell by 13% in the regular trading session on Friday.

21Vianet Earnings

Adding to the disappointing numbers of the last week was 21Vianet (NASDAQ:VNET), the largest carrier-neutral data center services provider in China. Although the company reported a revenue increase of 29% YoY, the margins dipped and earnings saw a steep fall of 55%. The 21Vianet stock has fallen by 6% in the 3 days following its earnings announcement.

21Vianet Stock Price

VNET stock chart
Source: 21Vianet stock chart by Amigobulls

Velti Plc. Earnings

Another company to declare its results during the last week was Velti (NASDAQ:VELT), a provider of mobile marketing and advertising solutions. The company continued to bleed losses reporting a 47%Y/Y fall in revenues and a loss of $1.56 per share compared to the year ago loss of 28 cents per share. The Velti stock has plunged 66% in the three days following the earnings announcement, and the Velti stock plunge best sums up the company’s quarterly performance.

Other stock market news:

Baidu launches 'Total View'

Blucora completes Monoprice acquisition

STock market updates: The week that went by

Read our Newsletter here: Google goes patent shopping again

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Neither Amigobulls, nor any members of its staff hold positions in any of the stocks discussed in this post. The author may not be a certified/registered investment advisor, and the opinions expressed should not be treated as investment advice. Buying and selling of securities carries the risk of monetary losses. Readers/Viewers are advised to carry out their own due diligence and consult their investment advisors before making any investment decisions. Neither Amigobulls, nor the author have any business relationship with any of the companies covered in this post.

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