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Highlights:
- Mobileye Global Inc. posted revenue of US$ 450 million in Q3 2022.
- Ansys, Inc.’s net income in Q3 2022 was US$ 96 million.
- Oracle posted Q2 2023 revenue of US$ 12.3 billion.
Tech stocks, including artificial intelligence (AI) and related services companies have always been an integral part of the equity market. However, volatility had set in over the past year due to macroeconomic reasons.
With the fastest inflation in decades, the Fed Reserve’s steep interest rate hikes and a slowing economy affected the stock market immensely.
However, people might be hoping for some positivity in 2023. Given the volatility factor in mind, nothing can be predicted and investors must do their research before placing their bets.
In this article, we look at three US AI stocks and analyze their performances in their latest quarters:
Mobileye Global Inc. (NASDAQ: MBLY)
Mobileye Global Inc. is a company that develops autonomous driving technologies and ADAS (advanced driver-assistance systems). These systems include computer chips, cameras, and software.
In its third quarter 0f 2022, Mobileye clocked revenue of US$ 450 million, up 38 per cent year-over-year (YoY).
The gross profit of Mobileye in Q3 2022 was US$ 217 million compared to US$ 153 million in Q3 2021.
Mobileye mentioned that its operating cash flow was US$ 395 million for the nine months that ended October 1, 2022. The company purchased property and equipment worth US$ 79 million in the same period. The MBLY stock rose 1.3 per cent year-to-date (YTD) as of writing.
ANSYS Inc. (NASDAQ: ANSS)
ANSYS Inc. is a US multinational company engaged in developing and marketing simulation software for product testing, design, and operation to customers across the globe. The Canonsburg, Pennsylvania-based company has an EPS of 5.34 and a P/E ratio of 48.
ANSYS’ revenue in Q3 2022 jumped seven per cent YoY to US$ 472.5 million. Meanwhile, the company’s net income jumped to US$ 96 million, representing an increase of 12 per cent YoY.
The operating margin was reported at 26.1 per cent in the reported quarter of 2022 against 24.4 per cent in the same quarter a year earlier. The ANSS stock returned 6.6 per cent YTD.
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Oracle Corporation (NYSE: ORCL)
Oracle is a provider of database technology, ERP (enterprise resource planning), and other software to companies worldwide.
Oracle has a dividend of 1.467 per cent and paid a quarterly dividend of US$ 0.32 per share. The Q2 GAAP earnings per share (EPS) in Q2 2023 was US$ 0.63 compared to a GAAP loss per share of US$ 0.46.
Oracle’s total revenue in the second quarter of 2023 grew by 18 per cent YoY to US$ 12.3 billion. The net income of the company was US$ 1,741 million, compared to a net loss of US$ 1,247 million in Q2 2022.
The ORCL stock soared 5.9 per cent YTD.
Bottom line
As an investor, keep yourself updated about the latest market trends and do not take hasty decisions as the market is volatile. You can wait for the market to come to normal, and till then, you might adopt a long-term strategy.