Internet Stocks Earnings Preview: AYA, BLIN, ASUR & LIVE
Zacks Investment Research | Aug 10, 2016 09:31PM ET
The second quarter earnings reporting cycle is drawing to a close. We have results from 454 S&P 500 companies (or 92.1% of the index’s total market capitalization) as of Aug 10. The numbers are bleak with total earnings down 3.7% from the same period last year on 0.7% lower revenues.
It is now clear that Q2 is headed to be the fifth consecutive quarter of earnings decline. Notably, the rate of decline has slowed down slightly from the previous quarter.
The technology sector has performed better-than-expected with giants like Facebook (NASDAQ:FB) and Alphabet (NASDAQ:GOOGL) beating expectations and registering strong growth on a year-over-year basis. We have earnings from over 88.4% of the sector’s total market cap in the index. Total earnings of these tech companies are down 1.2% from the same period last year in spite of 2.5% higher revenues.
Overall, tech sector earnings are expected to be down 0.2% in spite of 2.7% higher revenues, compared with the sector’s 4.5% earnings decline irrespective of 0.4% higher revenues in the last reported earnings cycle.
Going ahead, we will have results from Amaya, Inc. (TO:AYA) on Aug 12 while Bridgeline Digital, Inc. (NASDAQ:BLIN) , Asure Software, Inc. (NASDAQ:ASUR) and Live Ventures Incorporated (NASDAQ:LIVE) will report on Aug 15.
Canada based Amaya, Inc offers technology-based products and services in the gaming industry. The company's gaming solution includes online casino gaming systems, Ongame poker software and network solutions, Game Office player management software platform, Mosino hospitality platform; land-based gaming solutions and lottery solutions.
Amaya carries a Zacks Rank #3 (Hold) and has an Original post
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