🗞 6 Best Earnings Reports of the Week

Happy Sunday! 👋 

More than 3,000 companies globally reported earnings this week including many of the world’s largest. Today, we’re taking a look at the 6 best charts we found!

Let’s dive in!

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6 Best Earnings Reports of the Week

More than 3,000 companies reported earnings this week, and as always, that meant the Fiscal AI team was hard at work bringing our clients the latest numbers in real-time.

From all those reports, our research team found several standout charts.

Here are the 6 best:

1. Google - Quarterly Cloud Backlog Growth

The narrative around the search giant has completely transformed from “AI loser” to “AI leader” in the span of 6 months.

This AI leadership is especially showing up in Google’s Cloud demand. This quarter, Google added $50 billion to its cloud backlog, reaching a total of $158 billion. 

CEO Sundar Pichai added some color on the conference call:

“The number of new GCP customers increased by nearly 34% YoY… We have signed more deals over $1 billion through Q3 this year than we did in the previous two years combined.”

On top of the robust demand, Google Cloud also reported a 24% operating margin this quarter — the highest in the company’s history.

2. Twilio - Active Customers

Twilio provides the building blocks (APIs) that enable businesses to embed real-time communications into their applications. This includes mediums like text messaging, voice, video conferencing, and more.

While many investors wrote the business off as dead after shares dropped 90% from highs and the Co-Founder/CEO decided to step down, there’s been a remarkable improvement in the company’s financial results over the last two years.

This quarter, Twilio added just over 43,000 new customers. That’s 3x more than any quarter in their history. The stock is now up 211% off of its 2022 lows.

3. Roblox - Bookings Growth

On Thursday, Roblox reported its strongest quarter ever in terms of total bookings growth.

The mobile gaming platform added 40 million new Daily Active Users this quarter, which helped drive a massive acceleration in bookings growth. To put some numbers on it, Roblox delivered $1.92 billion in total Bookings for the quarter, which was up 70% compared to the same period a year ago. 

That’s the fastest bookings growth rate the company has reported since the pandemic.

4. Amazon - AWS Re-acceleration

It wasn’t too long ago that investors believed AWS was falling behind.

However, Amazon erased many doubts this quarter with AWS reaching $132 billion in annual recurring revenue and reaccelerating growth to 20%. 

CEO Andy Jassy pulled no punches either when talking about AWS’ performance compared to their cloud peers:

“AWS is growing at a pace we haven't seen since 2022... It's worth remembering that YoY percentage growth is a relative term. It's very different having 20% YoY growth on a $132 billion annualized run rate than to have a higher percentage growth rate on a meaningfully smaller annual revenue, which is the case with our competitors.”

5. CoStar Group - Revenue Growth

CoStar Group maintains the largest and most comprehensive database of commercial property information in the world. Despite operating in a somewhat cyclical end market (commercial real estate), they’ve done a remarkable job growing revenue at a consistent pace over the last decade.

In fact, CoStar’s Q3 report on Tuesday marked their 58th consecutive quarter of double-digit revenue growth!

While the business continues to grapple with profitability concerns, 14+ years of double-digit revenue growth is the dream for most SaaS businesses.

6. SoFi Technologies - Total Members

SoFi is one of the fastest growing online banks in the US.

The financial app which got its start in student loan refinancing has quickly become a full-fledged banking solution for its customers.

This product innovation has helped drive rapid membership growth (up 10x over the last ~5 years), and they don’t seem to be slowing down either. SoFi has set records for new member additions in each of the last 4 quarters.

This isn’t just eyeballs growth either, their members are keeping their money on SoFi as well. Since receiving its banking charter in 2022, SoFi has added $33 billion in customer deposits, while competitors like Ally Financial have seen little to no growth over the last several years.

That’s going to do it for this week! If we missed any charts or great reports, feel free to respond to this email with the best ones you found.

If you’re curious which companies report next week, check out our free earnings calendar here.