Coty Inc (COTY) saw a blazing surge of 22 percent on Wall Street on Friday as its quarterly income exceeded consensus. The designer of beauty goods posted online revenues for the first fiscal quarter ended September, down 13 percent to $1.69 billion. At 61.8 percent, the adjusted gross margin was little changed. Compared to $126 million a year ago, net income was $79 million. Net income was $201 million including one-time tax gains. Compared to $50 million a year ago, adjusted net income was $84 million. Adjusted EPS remained came at 11 cents per share up from 7 cents per share a year ago.
Square Inc (SQ) was up 13 percent as the San Francisco-based company involved in mobile payments, largely beat the consensus for the third quarter. Earnings per share were 34 cents, up 36% year on year, compared to a consensus of 16 cents. In total, revenue was $3.03 billion, up by 140% performance with the Cash App. There was a consensus of $2.1 billion. The gross payment amount rose to $31.7 billion from last year by 12.4 percent. With a 174 percent rise excluding bitcoin, the mobile payment service Cash App posted impressive sales of and $435 million. The Cash App’s revenue from bitcoin grew “Tenfold”. As a result, with these bitcoin transactions totaling $1.63 billion, Cash App’s overall sales hit $2.07 billion with a gross profit of $32 million.
T-Mobile US Inc (TMUS) was up 5.3% after beating market expectations for the third quarter that helped it climb to Wall Street on the day. Compared with a forecast of 51 cents, the U.S. telecom operator posted earnings per share of $1.17. Reported income also increased marginally year-on-year. In the September quarter, sales were $19.3 billion, 6 percent above consensus which was $11.1 billion a year-ago quarter.
Xerox Holding Corporation (XRX) added 0.63 percent on the day while activist investor Carl Icahn raised his interest in the printer specialist to 14.4 percent. The stake buildup came after his backing of HP’s unsuccessful takeover bid to acquire Xerox.