Quarterly earnings reports for notable companies are expected this week, particularly on Wednesday, August 6. Among them, Disney (DIS), Fortinet (FTNT), and Shopify (SHOP) have received favorable Zacks Rank ratings.
Disney (DIS)
Disney is set to report its fiscal third quarter, with its stock having risen over 30% in the last year, hitting a 52-week high of $124. The company anticipates 2% growth in revenue and 6% growth in net income for Q3, supported by successful film releases and streaming platforms profitability. The forward earnings multiple stands at 20.1.
Fortinet (FTNT)
Fortinet, ranked Zacks #2 (Buy), is projected to report Q2 revenue of $1.62 billion, a 13% increase year-over-year. Expected earnings per share (EPS) for this quarter is $0.59, marking a 3% rise. The company has exceeded earnings expectations for 29 consecutive quarters, with stock gains exceeding 70% over the past year.
Shopify (SHOP)
Shopify is expected to report a 24% increase in Q2 sales to $2.54 billion and an 8% rise in EPS to $0.28. The company has experienced stock gains of 140% over the past year, aided by strategic partnerships and the introduction of AI-powered tools. Analysts anticipate Gross Merchandise Volume (GMV) to reach $81 billion, maintaining a streak of seven consecutive quarters of over 20% GMV growth.
Overall, Disney, Fortinet, and Shopify are poised for potential growth as their quarterly results are released.
