Fast Money Blog- 2/26/21

Although it was a slow week on Wall Street two Wealthy Investor stocks posted outstanding earnings. 

On Monday, Feb. 22nd Home Depot, Inc. (HD) released its Q4 2020 earnings.  Top line revenue for the quarter was reported at $32.2 billion, up 25% year-over -year.  Comparable sales for the fourth quarter of fiscal 2020 increased 24.5%, and comparable sales in the U.S. increased 25%.

During the pandemic Home Depot has benefited from keeping their brick and mortar stores open as essential retailers.  The company said the value of a customer’s average purchase rose nearly 11% from a year earlier.  This increase is attributed to people gravitating toward do-it-yourself projects and purchasing patio furniture and grills to extend the outdoor season. 

The Company also announced that its board of directors approved an increase in its quarterly dividend by 10%.

Square, Inc. (SQ) posted its quarterly earnings data on Tuesday, February 23rd.  The firm reported revenue of $3.03 billion, up 139.6% on a year-over-year basis.

Cash App, the mobile payment service developed by Square, had more than 36 million monthly transacting active customers, up more than 50% year-over-year.

Cash App generated $344 million of subscription and services-based revenue during the fourth quarter, up 113% year over year. For the full year of 2020, Cash App subscription and services revenue was $1.16 billion, an increase of 125% compared to the full year of 2019.

Based on their year-over-year HD and SQ are great dates. I strongly recommend you maintain these stocks as long-term holds. 

Stay Open!  Stay Positive!

Tyrone Jackson, The Wealthy Investor