Fast Money Blog- 2/23/24
It was an incredible week on Wall Street, as The Home Depot, Inc. (HD), Walmart, Inc. (WMT) and Nvidia Corporation (NVDA) reported their Q4 2023 earnings.
On Tuesday, February 20th, Home Depot reported Q4 2023 earnings with top-line revenue of $34.7 billion.
Although sales did fall, the company still beat earnings and revenue estimates as they saw a return to more normal spending patterns post-Covid.
HD expects sales to rise in 2024 and anticipates opening about a dozen new stores this year. They also announced that they were boosting its quarterly dividend 7.7% to $2.25 per share.
Home Depot is still a great long-term hold.
Walmart reported outstanding Q4 2023 earnings across the board on Tuesday, Feb. 20th.
Not only is their stock splitting 3 for 1 on Wednesday, February 26th, but here are the other factors that make Walmart a winner:
The company posted quarterly top-line revenue of $173.4 billion, up 5.7% year-over-year.
Global eCommerce quarterly sales were up 23% year-over-year.
Walmart’s global quarterly advertising business grew approximately 33% year-over-year, showing the strength of Walmart’s Partner Connect Network. This platform was created to provide advertising opportunities to other companies, with search and display ads on Walmart’s website, and digitals screens and sampling in Walmart’s physical stores.
Walmart also announced that they had agreed to buy VIZIO HOLDING CORP. to further accelerate Walmart Connect in the U.S.
The company raised their annual dividend to $2.28 per share, marking 50th consecutive year of dividend increases.
I highly recommend Walmart as a long-term hold in your Wealthy Investor portfolio.
On Wednesday, Feb. 21st, Nvidia Corporation (NVDA), posted off-the-charts Q4 2023 earnings.
Highlights include:
Record quarterly revenue of $22.1 billion, up 265% from a year ago.
Record quarterly Data Center revenue of $18.4 billion, up up 409% from year ago.
Record full-year revenue of $60.9 billion, up 126% year-over-year.
In addition, NVDA reported a 769% annual gain in fourth-quarter profit and a 580% jump in full-year profits from the year earlier.
Based on these earnings I now recommend Nvidia as a long-term hold in your Wealthy Investor portfolio.
As a wealth investor student you are in for a very exciting ride as I see the stock market advancing significantly over the next 24 months.
As always, stay open and stay positive.
The best is yet to come!
Tyrone Jackson
The Wealthy Investor