— Cintas Corporation (NASDAQ: CTAS) reported its third-quarter 2020 adjusted earnings of $2.16 per share versus $2.02 per share expected.
— Revenue rose by 8% to $1.81 billion versus $1.8 billion expected. The organic revenue growth rate, which adjusts for the impacts of acquisitions, foreign currency exchange rate fluctuations, and workdays difference, was 5.7%.
— The Uniform Rental and Facility Services segment registered a 4.8% organic sales growth, while First Aid and Safety Services recorded a 12.5% gain.
— Gross margin grew to 45.5% from 44.9% in the previous year quarter.
— Uniform Rental and Facility Services segment gross margin improved 90 basis points, while other gross margin declined 50 basis points.
— Due to the uncertainty, including the severity and duration of the pandemic, the company is not providing guidance for the fourth quarter of fiscal 2020 at this time and withdrawing its full fiscal year guidance.
— Although visibility to near-term financial results is currently diminished, the company remains focused on the safety and well-being of its employee-partners and the care of its customers.
The IPO market witnessed a boom in 2020, despite the pandemic weakening the macro environment. Many tech companies have witnessed a blockbuster listing this year and few more tech firms
Micron Technology Inc. (NASDAQ: MU) reported strong earnings and revenue growth for the fourth quarter of 2020, benefitting from the pandemic-driven digital transformation spree. However, the company's stock dropped during
Mobile game company Zynga Inc. (NASDAQ: ZNGA) has seen its stock gain 49% since the beginning of this year. The company registered strong results in the first half of 2020