Domino’s Pizza, Inc. (DPZ) released its fourth quarter and full year earnings report on Monday, February 24. The pizza chain reported lower-than-expected earnings, causing its stock to fall by over 6% following the release of the report.

Revenue came in at $1.44 billion during the fourth quarter, up from $1.40 billion reported last year, but missed analysts’ expectations of $1.48 billion. Full-year revenue came in at $4.71 billion, up from revenue of $4.48 billion in the year prior.

“Domino’s 2024 results demonstrated that our Hungry for MORE strategy can drive strong order count growth, even in the face of a challenging global macroeconomic environment,” said Domino’s CEO, Russell Weiner. “As we look ahead to 2025, I remain confident that Domino’s will continue to win and grow market share. This will increase our advantage as the #1 pizza company in the world, driving best in class results and long-term value creation for franchisees and shareholders.”

Domino’s reported net income of $169.44 million or $4.89 per adjusted share. This was up from $157.29 million in net income or $4.48 per adjusted share last year at this time. For the full year, Domino’s reported a net income of $584.17 million.

The pizza company primarily credited its net income increase to higher supply chain and U.S. franchise advertising revenues. The company’s domestic same-store sales were up 0.4% from the same quarter last year, missing expectations of 1.5% growth. Internationally, same-store sales increased by 2.7% from the year prior. Additionally, the company reported a net increase of 87 stores in the U.S. and 308 new stores abroad, ending the quarter with 21,366 total stores globally. Domino’s declared a dividend of $1.74 per share of common stock, payable on March 28, 2025, to the stockholders of record on March 14, 2025.

Domino's Pizza, Inc. (DPZ) shares ended the week at $489.71, up 11% for the week.

Zoom Posts Earnings

Zoom Communications, Inc. (ZM) released its fourth quarter and full year earnings report on Monday, February 24. While the company beat revenue expectations for the quarter, shares dipped 3.5% following the release.

The video conferencing technology company reported revenue of $1.18 billion for the quarter, up 3.3% from $1.15 billion during the same quarter last year, and was in line with analysts’ expectations. Full-year revenue came in at $4.67 billion, up 3.1% from $4.53 billion the previous year.

“In FY25, Zoom AI Companion emerged as the driving force behind our transformation into an AI-first company, enabling our customers to discover enhanced productivity opportunities,” said Zoom CEO, Eric S. Yuan. “As Zoom AI Companion becomes increasingly agentic, we look forward to continuing to help our customers fully realize the benefits of AI and discover what is possible with AI agents.”

Zoom posted net income of $367.87 million for the quarter or $1.16 per adjusted share. This was an improvement from net income of $298.83 million or $0.95 per adjusted share during the same quarter last year. For the full year, Zoom reported net income of $1.01 billion.

Zoom’s Enterprise customers, those who subscribe directly through Zoom’s sales team or partners, now have approximately 192,600, a decrease from 220,400 one year ago. The number of customers spending more than $100,000 increased to 4,088, a 7% increase compared to the same quarter last year. At the end of the fourth quarter, the percentage of total online Monthly Recurring Revenue (MRR) from Online customers with a continuous service term of at least 16 months stood at 75.1%, an increase of 90 basis points year-over-year.

Zoom Communications, Inc. (ZM) shares ended the week at $73.70, down 10% for the week.

Home Depot Reports Earnings

The Home Depot, Inc. (HD) released its fourth quarter and full year earnings report on Tuesday, February 25. The home improvement retailer reported sales that topped analysts’ expectations for the quarter, causing its shares to rise nearly 3% following the report’s release.

Home Depot reported fourth quarter revenue of $39.70 billion, up 14.1% from $34.79 billion during the same quarter last year. Analysts’ expected revenue of $39.16 billion for the quarter. Revenue for the full year came in at $159.51 billion.

“Our fourth quarter results exceeded our expectations as we saw greater engagement in home improvement spend, despite ongoing pressure on large remodeling projects,” said Home Depot CEO, Ted Decker. “Throughout the year, we remained steadfast in our investments across our strategic initiatives to position ourselves for continued success, despite uncertain macroeconomic conditions and a higher interest rate environment that impacted home improvement demand. I would like to thank our associates for all that they do to serve our customers and communities.”

Home Depot reported quarterly net earnings of $3.00 billion or $3.02 per adjusted share. This was an increase from net earnings of $2.80 billion or $2.82 per adjusted share during the same quarter last year. For the full year, net income reached $14.81 billion.

The Atlanta, Georgia-based home improvement retailer reported that its U.S. comparable store sales increased 1.3% during the fourth quarter. Home Depot also reported an increase of 7.6% in customer transactions during the quarter, and the average ticket rose to $89.11. At the end of the fourth quarter the company had a total of 2,347 retail stores and expects approximately 13 new stores in fiscal 2025. Home Depot approved a 2.2% increase in its quarterly dividend to $2.30 per share, bringing the total annual payout to $9.20 per share. The dividend will be payable on March 27, 2025, to shareholders of record as of March 13, 2025.

The Home Depot, Inc. (HD) shares ended the week at $396.60, up 3% for the week.

The Dow started the week of 2/24 at 43,493 and closed at 43,841 on 2/28. The S&P 500 started the week at 6,027 and closed at 5,955. The NASDAQ started the week at 19,591 and closed at 18,847.

Treasury yields fell throughout the week as the markets analyzed economic data indicating signs of a slowdown. Yields remained lower towards the end of the week despite initial jobless claims remaining relatively steady.

On Thursday, the U.S. Commerce Department’s Bureau of Economic Analysis (BEA) announced that the revised estimate for Gross Domestic Product (GDP), a monetary measure of the market value of all goods and services produced in a specific time period, increased at a 2.3% annualized rate in the fourth quarter of 2024. This was in line with economists’ expectations and lower than the 3.1% growth achieved in the third quarter of 2024.

“Real GDP was revised up by less than 0.1% from the advance estimate released last month, primarily reflecting upward revisions to government spending and exports that were partly offset by downward revisions to consumer spending and investment,” noted the BEA in its report.

The benchmark 10-year Treasury note yield opened the week of February 24 at 4.43% and traded as low as 4.25% on Wednesday. The 30-year Treasury bond opened the week at 4.68% and traded as low as 4.51% on Wednesday.

On Thursday, the U.S. Department of Labor reported that initial claims for unemployment increased by 22,000 to 242,000 for the week ending February 22. This was above economists’ estimates of 225,000. Continuing claims fell by 5,000 to 1.86 million.

“This report showed a healthy gain, but not the first ripples of what likely will be a major wave of unemployment claims, both from layoffs in the federal workforce and at companies such as Starbucks and Southwest,” said corporate economist at Navy Federal Credit Union, Robert Frick.

The 10-year Treasury note yield finished the week of February 24 at 4.22% while the 30-year Treasury note yield finished the week at 4.51%.

Freddie Mac released its latest Primary Mortgage Market Survey on Thursday, February 27. The survey showed another consecutive drop in the 30-year fixed mortgage rates.

This week, the 30-year fixed mortgage rate averaged 6.76%, down from last week’s average of 6.85%. Last year at this time, the 30-year fixed mortgage rate averaged 6.94%.

The 15-year fixed mortgage rate averaged 5.94% this week, down from last week’s average of 6.04%. During the same week last year, the 15-year fixed mortgage rate averaged 6.26%.

"This week, mortgage rates decreased to their lowest level in over two months,” said Freddie Mac’s Chief Economist, Sam Khater. "The drop in mortgage rates, combined with modestly improving inventory, is an encouraging sign for consumers in the market to buy a home.”

Based on published national averages, the savings rate was 0.41% as of 2/18. The one-year CD averaged 1.80%.

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