Top earnings to watch this week: ZM, INTU, BBY, NVDA & BABA

Highlights:

• Zoom Video Communications, Inc. will report its fiscal quarter ending April 2022 earnings on Monday after market close.
• Intuit Inc. shares traded at US$369.29 at 1:56 PM ET on May 23.
• As per market estimates NVIDIA Corporation’s (Nasdaq:NVDA) EPS forecast for the quarter is US$1.09.

While rising fuel and freight costs have negatively impacted company profits, Wall Street's steep losses in recent days have shocked many market observers. If retail giants like Walmart and Target have blamed the high operating costs for weak quarterly earnings, tech companies blamed the supply limitations for the poor or mixed results. US stocks had to bear the brunt of their biggest daily drop since 2020 this May.

Here, we look at some top earnings this week:

Zoom Video Communications, Inc. (Nasdaq:ZM):

Zoom Video Communications, Inc. will report its fiscal quarter ending April 2022 earnings on Monday after market close. The San Jose, California-based communications technology company provides videotelephony and online chat services with the help of cloud-based peer-to-peer software.

ZM shares traded at US$89.58 at 12:38 PM ET on May 23, a decrease of 0.17% from its previous closing price on May 20. Its stock value diminished 51.3% YTD.

The firm has a market cap of US$26.67 billion, a P/E ratio of 19.85, and a forward one-year P/E ratio of 65.03. Its EPS is US$4.48.

The 52-week highest and lowest stock prices were US$406.48 and US$79.03, respectively. Its trading volume was 4,741,373 on May 20.

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Intuit Inc. (Nasdaq:INTU):

Intuit Inc. (Nasdaq:INTU) will report its earnings for the fiscal quarter ending April 2022 on May 24, Tuesday after market close.

Intuit Inc. is a business software company. Mountain View, California-based Intuit’s main offering is financial software. A few key products from Intuit include- products include the tax preparation application TurboTax, the Mint (personal finance app), QuickBooks (the small business accounting program), Credit Karma (credit monitoring service), and the email marketing platform Mailchimp.

The shares of the company traded at US$369.29 at 1:56 PM ET on May 23, 2022. Its closing price was US$367.78 on May 20. Its stock value decreased by 41.51% YTD.

The firm has a market cap of US$104.33 billion, a P/E ratio of 47.05, and a forward one-year P/E ratio of 45.18. Its EPS is US$7.84.

The 52-week highest and lowest stock prices were US$716.86 and US$339.36, respectively. Its trading volume was 1,921,565 on May 2o.

Best Buy Co., Inc. (NYSE:BBY):

Best Buy Co., Inc., (NYSE:BBY) will report its earnings for the fiscal quarter ending in April 2022 on May 24 before the first bell. The EPS market forecast of the company is US$1.6, while the reported EPS of the year-ago quarter was US$2.23.

Headquartered in Richfield, Minnesota, Best Buy is a US multinational electronics retailer, and its original name was Sound of Music. The company sells cellular phones from Verizon Wireless, AT&T Mobility, and Sprint Corporation in the US.

The shares of the company traded at US$72.605 at 2:24 PM ET on May 23, 2022. Its closing price was US$72.36 on May 20. Its stock value decreased by 40.65% YTD.

The firm has a market cap of US$16.27 billion, a P/E ratio of 7.35, and a forward one-year P/E ratio of 8.16. Its EPS is US$9.84.

The 52-week highest and lowest stock prices were US$141.97 and US$72.36, respectively. Its trading volume was 4,858,606 on May 2o.

NVIDIA Corporation (Nasdaq:NVDA):

NVIDIA Corporation (Nasdaq:NVDA) will report its fiscal quarter ending April 2022 earnings on May 25, Wednesday after market close. As per market estimates its EPS forecast for the quarter is US$1.09. The EPS of the year-ago quarter was US$0.78.

NVIDIA Corporation is a US multinational software and fabless company based in Santa Clara, California. The company designs GPUs, and APIs for data science and is a global market leader in artificial intelligence, and hardware & software from edge to cloud computing.

The shares of the company traded at US$168.705 at 2:43 PM ET on May 23, 2022. Its closing price was US$166.94 on May 20. Its stock value decreased by 43.99% YTD.

The firm has a market cap of US$421.25 billion, a P/E ratio of 43.72, and a forward one-year P/E ratio of 35.44. Its EPS is US$3.85.

The 52-week highest and lowest stock prices were US$346.47 and US$142.71, respectively. Its trading volume was 73,910,530 on May 2o.

Alibaba Group Holding Limited (NYSE:BABA):

Alibaba Group Holding Limited (NYSE:BABA) will report the fiscal quarter ending March 2022 earnings on May 26, Thursday before the first bell. According to market estimates Alibaba’s EPS forecast for the quarter is US$0.67. The reported EPS for the year-ago quarter was US$1.1.

Alibaba Group Holding Limited, popularly known as Alibaba is a Chinese multinational technology company. It deals in e-commerce, retail, internet, and technology. Alibaba is one of the world's largest e-commerce companies.

When Alibaba went public on 19 September 2014, on New York Stock Exchange it raised US$25 billion and was the largest IPO in world history.

The shares of the company traded at US$87.04 at 3:05 PM ET on May 23, 2022. Its closing price was US$86.79 on May 20. Its stock value decreased by 27.69% YTD.

The firm has a market cap of US$233.14 billion, a P/E ratio of 23.26, and a forward one-year P/E ratio of 13.41. Its EPS is US$3.73.

The 52-week highest and lowest stock prices were US$230.89 and US$73.28, respectively. Its trading volume was 21,020,830 on May 2o.

Bottom line:

Rising costs, supply chain disruptions, Fed rate hikes, and the threat of a looming recession have dominated the concerns on Wall Street. Shares of top companies, ranging from retail to technology, have fallen while facing a host of headwinds mentioned.