3 Stocks to Buy Following Positive Earnings Results

The beats keep coming in the current earnings season, injecting a dose of optimism into the market atmosphere. With over 400 S&P 500 companies delivering their financial updates, a pattern of positivity is emerging.

This season has seen a 5.0% growth in total earnings for the reporting S&P 500 members compared to the same period last year, with revenues climbing 4.2%. This accelerated growth pace paints a rosy picture amidst the financial landscape.

Projections for the upcoming 2024 Q2 cycle are on an upward trajectory, indicating a wave of optimism among industry analysts. Furthermore, full-year 2024 estimates suggest a robust 9% recovery from the previous year’s slump.

Apple recently stole the show with its stellar earnings report, surpassing market expectations. The tech juggernaut outperformed the Zacks Consensus EPS estimate by 1.3% and reported sales 1% above projections.

In a jaw-dropping move, Apple unveiled a monumental $110 billion buyback program, snatching headlines and investor attention. Additionally, the company added gloss to its performance by raising quarterly dividends by 4%, marking a 12^th consecutive year of increased payouts.

The positive vibes reverberated further, with analysts revising earnings expectations upwards post the announcement, reflecting a confident outlook on Apple’s future.

Texas Instruments hit all the right chords in its recent earnings report, surpassing expectations by a substantial 13% in EPS and nudging revenue 1.5% higher than anticipated – its first dual outperformance in a while.

The company’s sweet melody continued with a remarkable $6.3 billion in cash flow over the last twelve months. After treading water for some time, Texas Instruments now seems poised to break out following its buoyant quarterly results.

Crocs danced to success in its earnings performance, dazzling investors with a whopping 34% beat on EPS and a 6% surge in sales above forecasts. The company’s consistency in surpassing consensus estimates, averaging a 17% beat across the last four quarters, is indeed notable.

The Q1 revenue milestone of $939 million, showcasing a 6% year-over-year growth and a record-breaking quarter, added another feather to Crocs’ cap. With an optimistic uptick in adjusted EPS guidance, the company is evidently striding confidently into the future.

The earnings season’s symphony plays on, with companies of diverse stripes stepping into the spotlight over the past week.

What’s consistent across the board is the buying spree post-earnings, with industry giants like Apple, Texas Instruments, and Crocs basking in the afterglow of their positive quarterly results.