News

Hospitality and casino entertainment company MGM Resorts (NYSE:MGM) reported Q4 CY2024 results exceeding the market’s revenue expectations, but sales were flat year on year at $4.35 billion. Its non-GAAP profit of $0.45 per share was 33% above analysts’ consensus estimates.

Online community and discussion platform Reddit (NYSE:RDDT) reported Q4 CY2024 results topping the market’s revenue expectations, with sales up 71.3% year on year to $427.7 million. Guidance for next quarter’s revenue was better than expected at $365 million at the midpoint, 1.3% above analysts’ estimates. Its GAAP profit of $0.36 per share was 44.3% above analysts’ consensus estimates.

Cybersecurity software maker Rapid7 (NASDAQ:RPD) reported Q4 CY2024 results topping the market’s revenue expectations, with sales up 5.4% year on year to $216.3 million. On the other hand, next quarter’s revenue guidance of $208 million was less impressive, coming in 2.8% below analysts’ estimates. Its non-GAAP profit of $0.48 per share was 3.4% below analysts’ consensus estimates.

Coffee chain Dutch Bros (NYSE:BROS) reported Q4 CY2024 results topping the market’s revenue expectations, with sales up 34.9% year on year to $342.8 million. The company’s full-year revenue guidance of $1.57 billion at the midpoint came in 2.3% above analysts’ estimates. Its non-GAAP profit of $0.07 per share was significantly above analysts’ consensus estimates.

Manufacturing equipment and systems provider Advanced Energy (NASDAQ:AEIS) reported Q4 CY2024 results exceeding the market’s revenue expectations, with sales up 2.5% year on year to $415.4 million. Guidance for next quarter’s revenue was optimistic at $392 million at the midpoint, 2.3% above analysts’ estimates. Its non-GAAP profit of $1.30 per share was 18% above analysts’ consensus estimates.

Content delivery company Fastly (NYSE:FSLY) reported revenue ahead of Wall Street’s expectations in Q4 CY2024, with sales up 2% year on year to $140.6 million. Guidance for next quarter’s revenue was better than expected at $138 million at the midpoint, 0.8% above analysts’ estimates. Its non-GAAP loss of $0.03 per share was $0.03 below analysts’ consensus estimates.

Shares of Alibaba Group listed in the U.S. extended their rally into Wednesday after reports that the Chinese tech and e-commerce giant is partnering with Apple to create artificial intelligence features for Apple products in China.

Financial services company Robinhood (NASDAQ:HOOD) announced better-than-expected revenue in Q4 CY2024, with sales up 115% year on year to $1.01 billion. Its GAAP profit of $1.01 per share was significantly above analysts’ consensus estimates.

Advertising software maker The Trade Desk (NASDAQ:TTD) missed Wall Street’s revenue expectations in Q4 CY2024, but sales rose 22.3% year on year to $741 million. Next quarter’s revenue guidance of $575 million underwhelmed, coming in 1.2% below analysts’ estimates. Its non-GAAP profit of $0.59 per share was 3.6% above analysts’ consensus estimates.

Over two days of testimony this week before Congress, Federal Reserve Chairman Jerome Powell indicated there's no imminent end to the central bank's balance sheet wind down process, as some banks have moved to push back their own end date for a process commonly referred to as quantitative tightening. “I think we have a ways to go” on reducing the size of central bank bond holdings and there are no signs yet that market liquidity has shrunk enough to affect the Fed's reduction in holdings of Treasury and mortgage bonds, Powell told a House panel Wednesday. Powell's observations on quantitative tightening, or QT, comes as the Fed has shed just over $2 trillion from its holdings.