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Major companies, including Zoom (ZM), Best Buy (BBY), Dick's Sporting Goods (DKS), Nordstrom (JWN), Abercrombie & Fitch (ANF), and most notably, Nvidia (NVDA), reported third-quarter earnings on Tuesday. Yahoo Finance spoke to experts across the industry to discuss everything investors need to know, including the winners and losers from this week's results. Nvidia (00:00:25) Nvidia reported adjusted earnings of $4.02 per share, well above the expected $3.36. Moor Insights and Strategy CEO and Chief Analyst Patrick Moorhead said, "They can name their price. And it's in a supply constrained environment. I think Nvidia could have done even better." Zoom (00:00:48) Zoom reported adjusted earnings of $1.29 per share compared to estimates of $1.10, and raised its 2024 outlook. "In our online segment, we announced 3.0% trim, which is the lowest we've ever reported," Zoom CFO Kelly Steckelberg said. "We're really excited about the progress that we're making there and look forward to ongoing stabilization in our online segment." Dick's Sporting Goods (00:01:21) Dick's Sporting Goods reported a third-quarter earnings beat and raised its full-year outlook. Wells Fargo Equity Research Analyst Will Gaertner said, "They clearly have momentum going into the holiday. We'll see what happens in the holiday, obviously the most important quarter for them." Best Buy (00:01:42) Best Buy reported a fall in comparable sales for the eighth straight quarter. Wedbush Securities Managing Director Seth Basham said, "It's simply a case of consumers spending less on big ticket discretionary items. We saw this trend accelerate after Labor Day, and Best Buy is right in the throes of that." Nordstrom (00:02:03) Nordstrom reported mixed third-quarter results, with adjusted earnings of $0.25 per share compared to estimates of $0.12. However, net sales of $3.20 billion fell short of the expected $3.36 billion. "Clearly Nordstrom sales are quite weak. A sales decline of 7% is quite weak," Morningstar Analyst David Swartz said. "So Nordstrom sales were pretty weak even compared to pretty low expectations." Abercrombie & Fitch (00:02:17) Abercrombie & Fitch reported a revenue of $1.06 billion, up 20% over the same period last year. Shares of the company are up over 211% year-to-date. Abercrombie & Fitch CEO Fran Horowitz said, "Abercrombie adults, super super exciting, the 11th consecutive quarter of growth. I think that's a testament to a lot of things. The fact that we've expanded our age cohort, we've expanded our category offerings, we're seeing success around the world." Video highlights: 00:00:03 - Yahoo Finance Reporter Josh Schafer 00:00:25 - Moor Insights and Strategy CEO and Chief Analyst Patrick Moorhead 00:00:48 - Zoom CFO Kelly Steckelberg 00:01:21 - Wells Fargo Equity Research Analyst Will Gaertner 00:01:42 - Wedbush Securities Managing Director Seth Basham 00:02:03 - Morningstar Analyst David Swartz 00:02:17 - Abercrombie & Fitch CEO Fran Horowitz

Best Buy Co., Inc. (NYSE:BBY) Q3 2024 Earnings Call Transcript

Early holiday shopping trends show deal-focused consumers this season

Q3 2024 Best Buy Co Inc Earnings Call

Best Buy (BBY) Q3 2024 Earnings Call Transcript