3 Tech Stocks That Crushed Earnings Estimates This Season

It’s been a great Q3 earnings season throughout Wall Street, and we’ve seen tech stocks—the market’s chosen darlings of 2017—dominate the headlines as marquee company after marquee company has posted solid results.

One thing investors are always looking for during reporting season is a plethora of earnings beats. Strong growth and positive consumer trends are always great, but investors want to see companies exceed expectations and post surprises.

So far this earnings season, about 73% of S&P 500 companies have surpassed earnings estimates, while 67% have beaten revenue estimates. Not surprisingly, the red-hot tech sector has contributed several of these positive surprises, and a few notable companies have emerged as significant over-performers.

Today, we’ve decided to highlight a few of these great tech earnings reports. Check out these three tech stocks that recently crushed earnings estimates:

1. Twitter, Inc. ( (NYSE:TWTR) )

After struggling to generate much positive momentum for years, Twitter is finally starting to show signs of a full-fledged turnaround. The social media company recently reported earnings of 10 cents per share, comfortably beating our consensus estimate of 6 cents. Management noted that its investments in livestreaming and original content are starting to pay off, and investors seem to be responding appropriately. Twitter shares have gained more than 15% since its earnings announcement. The stock is currently a Zacks Rank #2 (Buy).

2. Advanced Micro Devices ( (NASDAQ:AMD) )

2017 has been the year of the tech stock, but more specifically, it’s been the year of the trendy chipmaker. One of the most noteworthy of this bunch is, of course, AMD. The oft-unpredictable stock has gained just 3% this year, but a strong earnings report, coupled with an encouraging outlook, has helped earn it a Zacks Rank #2 (Buy). In its latest quarter, AMD reported earnings of 10 cents per share, beating our consensus estimate of 8 cents and soaring more than 230% year-over-year.

3. BlackBerry Limited ( (NYSE:BB) )

In a year that has seen the Backstreet Boys embark on a nationwide tour, the once-iconic mobile phone brand BlackBerry has also been declared “back.” Brothers, sisters, everybody sing: BlackBerry is relevant again. The company has ditched its phone manufacturing business and shifted towards a software-first focus, and things are finally starting to pick back up again. In its most recent quarter, this Zacks Rank #2 (Buy) posted a surprise profit of 5 cents per share, crushing our consensus estimate that called for a loss of a penny. BlackBerry shares are now up over 55% year-to-date.

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