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Samsara Stock Surges 15% After Earnings Beat, MongoDB Faces 8% Decline Amid Gloomy Forecast

Fernanda T
Latest News
March 08 2024 6:21AM

Samsara (NYSE:IOT) – The Internet of Things company saw a 14.87% increase in pre-market trading after reporting fourth-quarter revenue of $276 million, surpassing LSEG analyst expectations of $258 million. This represented a 48% increase, well above the company’s guidance range. The adjusted profit was four cents per share, while the consensus estimate was for an adjusted profit of three cents per share.

MongoDB (NASDAQ:MDB) – The database software manufacturer provided a disheartening outlook for both the first quarter and the full year. The company surpassed expectations in the fourth quarter, reporting an adjusted profit of 86 cents per share and revenue of $458 million, compared to analysts’ forecast of a profit of 47 cents per share and revenue of $433 million. Shares dropped -9.5% in pre-market trading.

DocuSign (NASDAQ:DOCU) – The electronic signature product company exceeded expectations and provided an optimistic forecast for the first quarter. In the fourth quarter, the company reported an adjusted profit of 76 cents per share on revenue of $712 million. Analysts had predicted a profit of 64 cents per share on revenue of $699 million, according to LSEG. Shares are up 9.5% in pre-market trading.

Gap (NYSE:GPS) – The apparel retailer reported earnings that exceeded analyst expectations for the last quarter. Gap reported earnings per share of 49 cents on revenue of $4.3 billion, beating analysts surveyed by LSEG who expected earnings of 23 cents per share on revenue of $4.22 billion. The company’s Old Navy brand experienced growth for the first time in over a year, contributing to the overall increase in Gap’s gross margin. Shares are up 5% in pre-market trading on Friday.

Costco Wholesale (NASDAQ:COST) – Share value dropped 4% after the retailer slightly missed revenue expectations for the second fiscal quarter. Costco reported revenue of $58.44 billion, while analysts expected $59.16 billion, as reported by LSEG. Net income rose to $1.74 billion, or $3.92 per share, compared to $1.47 billion, or $3.30 per share in the same period last year. E-commerce comparable sales for the period increased over 18%. Shares are down -3.8% in pre-market trading.

Broadcom (NASDAQ:AVGO) – Broadcom issued a revenue forecast for the year, in line with analyst expectations as reported by LSEG. In the first fiscal quarter, the company reported an adjusted earnings per share of $10.99, surpassing expectations of $10.29 per share. Revenue reached $11.96 billion, also beating the forecast of $11.72 billion. Shares are down -3.3% in pre-market trading.

Marvell Technology (NASDAQ:MRVL) – Marvell issued a weaker-than-expected revenue forecast for the first quarter, estimating $1.15 billion, while analysts surveyed by LSEG expected $1.37 billion. Moreover, Marvell also communicated a weaker adjusted earnings projection for the same period. In the fourth quarter, the company earned 46 cents adjusted per share on sales of $1.43 billion. Analysts surveyed by FactSet expected earnings of 46 cents per share on sales of $1.42 billion. Shares are down -6.9% in pre-market trading.

BigBear.ai (NYSE:BBAI) – BigBear.ai shares are down 17% to $3.12 after reporting fourth-quarter revenue of $40.6 million, below the forecast of $42.8 million. The company projects 2024 revenues between $195 million and $215 million following the acquisition of Pangiam. BigBear recorded a net loss for the quarter of $21.3 million, or 14 cents per share, and an adjusted EBITDA of $3.7 million.