eBay, Chipotle Mexican Grill, and AT&T released their latest earnings reports after closing bell tonight. eBay posted adjusted earnings of 47 cents per share and $2.1 billion in revenue, against the consensus estimates of 44 cents per share in earnings and $2.08 billion in revenue.
Chipotle Mexican Grill reported adjusted losses of 88 cents per share and $834.5 million in revenue, compared to the consensus of 95 cents per share in losses and $880.21 million in revenue. In last years first quarter, the fast casual dining chain reported earnings of $3.88 per share.
AT&T posted adjusted earnings of 72 cents per share and revenue of $40.5 billion, against the consensus of 69 cents per share in earnings and $40.46 billion in revenue. Most of the 24% increase in revenues came from the acquisition of DIRECTV last year.
eBay surges on earnings results
eBay said gross merchandise volume increased 5% on a currency neutral basis to $20.5 billion. GAAP earnings were 41 cents per share. Marketplaces recorded $19.6 billion in gross merchandise volume
eBay management expects second quarter revenue to come in between $2.14 billion and $2.19 billion, which is a growth rate of 4% to 6% on a currency neutral basis and compares to the consensus at $2.14 billion. They expect adjusted earnings of 40 cents to 42 cents per share for the second quarter, against the consensus of 44 cents per share, and GAAP earnings of 32 cents to 34 cents per share. For the full year, they project net revenues of $8.6 billion to $8.8 billion, which is a 3% to 5% currency neutral growth rate. The Street projects full year revenue of $8.73 billion.
eBay stock climbed by as much as 4.12% to $25.50 per share in after-hours trades following tonight’s results.
Chipotle Mexican Grill shares fall after earnings
Chipotle Mexican Grill said comparable restaurant sales plunged 29.7%, while comparable restaurant transactions declined 21.1%. The restaurant level operating margin plunged as well, falling from 27.5% last year to 6.8% this year. Despite the weak sales, Chipotle management said sales are gradually recovering. Food costs amounted to 35.3% of revenue, a 140 basis point increase.
Shares of Chipotle Mexican Grill declined by as much as 2.87% to $433 in after-hours trades after tonight’s report.
AT&T moves higher after earnings
AT&T’s reported earnings were 61 cents per share. The company added 2.3 million wireless subscribers in North America with connected devices being the main driver. It added 712,000 branded phones and recorded a total U.S. churn rate of 1.42% and a postpaid churn rate of 1.1%. AT&T added 328,000 DIRECTV subscribers during the quarter, although total video subscribers fell slightly. Business Solutions revenues edged higher by 0.3%, while wireless revenues increased 2.3%. Strategic business services revenues climbed by almost $250 million to $2.8 billion.
AT&T shares edged higher by 1.47% to $38.65 in after-hours trades following tonight’s report.