Market Overview

2 Tech Earnings Calls To Watch On Wednesday

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Workday Inc (NYSE: WDAY) and Avago Technologies Ltd (NASDAQ: AVGO) are scheduled to announce quarterly financial results on Wednesday after the bell. Let’s take a look at what the Street and the crowd are expecting from these calls.

Workday

Workday will report its second-quarter financial results on Wednesday, and although estimates point towards no profits, they still imply a year-over-year amelioration in the earnings profile.

In the second quarter last year, the company reported a net loss of ($0.11) per share on revenue of $186.8 million. For this year’s second quarter, the Street is modeling a net loss of ($0.06) per share on revenue of $274.02 million, while the crowd anticipates a net loss of ($0.04) per share on revenue of $275.94 million (Estimize).

It should be noted from the chart above that Workday has a history of beating estimates.

The second chart illustrates the evolution of sentiment over time. Both the Street and the crowd have become more constructive on earnings as the report date loomed. Estimates now stand at their highest point.

Avago Technologies

Avago is expected to deliver one of its best quarters ever. Last quarter, the company reported record earnings of $2.13 per share on revenue of $1.645 billion. For the current quarter, the Street is projecting earnings of $2.13 per share on revenue of $1.742 billion, while the crowd envisions consensus earnings of $2.14 per share on revenue of 1.741 billion (Estimize).

These estimates compare to guidance for revenue of $1.74 billion (for the current quarter), and EPS of $1.26 on sales of $1.287 billion reported a year ago.

Avago has a history of beating estimates.

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