Akamai Technologies (NASDAQ:AKAM) – Akamai shares fell 10.8% in pre-market, influenced by a disappointing projection for the second quarter. The company estimated adjusted earnings between $1.51 and $1.56 per share, with revenues expected between $967 million and $986 million. In contrast, analysts surveyed by LSEG had expected earnings of $1.63 per share and revenue of $1 billion. In the first quarter, Akamai posted revenue of $987 million, marking an 8% increase from the previous year. Its adjusted earnings reached $1.64 per share, at the upper end of the company’s guidance range of $1.59 to $1.64 per share.
JFrog (NASDAQ:FROG) – JFrog shares fell 12.3% in pre-market despite exceeding analysts’ expectations in earnings and revenues in the first quarter. JFrog reported quarterly earnings of $0.16 per share and revenue of $100.31 million, surpassing the consensus estimate of $0.14 per share, while revenue grew from the previous year when it recorded $79.82 million. The software development company forecasts revenue between $103 million and $104 million, with adjusted earnings between 13 and 15 cents per share in the second quarter.
Sweetgreen (NYSE:SG) – Shares rose 16.7% in pre-market after Sweetgreen reported revenue of $158 million in the first quarter, surpassing the consensus estimate from LSEG of $152 million. Sweetgreen reported an EPS of $0.23, worse than the $0.18 estimate. Sweetgreen sees revenue for fiscal year 2024 of $660-675 million, against the consensus of $667 million.
Array Technologies (NASDAQ:ARRY) – Array Technologies shares rose 15% in pre-market after reporting adjusted earnings of 6 cents per share in the first quarter, with revenue totaling $153.4 million. Analysts surveyed by FactSet had forecast a loss of 4 cents per share on revenue of $141.2 million.
Dropbox (NASDAQ:DBX) – Dropbox shares rose 1.6% in pre-market after reporting adjusted earnings of 58 cents per share and revenue of $631 million. Analysts surveyed by LSEG had expected earnings per share of 50 cents on revenues of $629 million.
Unity Software (NYSE:U) – Unity Software shares fell 1.1% in pre-market. In the first quarter, the company reported a loss of 75 cents per share, exceeding analysts’ forecast surveyed by LSEG, which was a loss of 63 cents per share. However, the company’s revenue reached $460 million, surpassing the consensus estimate of $432 million.
SoundHound (NASDAQ:SOUN) – SoundHound shares rose 14.5% in pre-market after exceeding revenue estimates, although it still recorded a loss. The voice and speech recognition AI company reported a net loss of $19.9 million, or 12 cents per share. On an adjusted basis, it earned 7 cents per share. Revenue increased to $11.6 million, up from $6.7 million the previous year. The company projects revenues of $65 million to $77 million for the full year.
Gen Digital (NASDAQ:GEN) – Gen Digital shares are stable in pre-market after the company reported adjusted earnings of 53 cents in the fourth fiscal quarter, showing a 15% increase compared to the same period last year. Additionally, revenue reached $967 million, representing a 2% increase.
Yelp (NYSE:YELP) – Yelp shares fell 7.1% in pre-market after announcing a slight downward revision of revenue projections for the second quarter. Although the company reported earnings of 20 cents per share in the first quarter, surpassing analysts’ predictions of 6 cents per share. The revenue for the period remained in line with expectations, totaling $333 million.
Insulet (NASDAQ:PODD) – Insulet shares are stable in pre-market. The company reported earnings of 23 cents per share, below the consensus forecast from FactSet, which was 40 cents per share. However, Insulet’s revenue reached $441.7 million, surpassing expectations of $424.1 million and representing a 23.3% increase from the same quarter last year. For the second quarter, the company projects revenue growth between 15% and 18%, maintaining an expected gross margin between 68% and 69%, while projections for the operating margin were adjusted to about 13.5%.
Victoria’s Secret (NYSE:VSCO) – Victoria’s Secret reported that its preliminary sales and adjusted earnings for the first quarter met or exceeded its previous projections, despite a 3% to 4% drop in net sales, better than expected, driven by robust online performance and positive reception to new products. The company announced adjusted earnings per share in the range of $0.07 to $0.12, surpassing the consensus estimate of -$0.03. CEO Martin Waters highlighted that although sales trends are improving, the U.S. retail market remains challenging, with increased discounting and competition. The company maintained its annual projection.
Honda Motor (NYSE:HMC) – Honda Motor achieved a Return on Invested Capital (ROIC) of 9.1% and a Return on Equity (ROE) of 9.3%. Its operating profit reached a record high of $1.96 billion. Honda projects an increase in operating profit for the full year, estimated at $9.13 billion, with an operating profit margin of 7%.
Marathon Digital (NASDAQ:MARA) – Marathon Digital shares rose 1.2% in pre-market trading after announcing record net income in the first quarter, reaching $337.2 million, or $1.26 per share, compared to $118.7 million, or 72 cents per share, in the previous year. Despite operational challenges, revenue rose to $165.2 million. The company’s HODL strategy, holding large amounts of Bitcoin, contributed to the positive results.
Bloom Energy Corp. (NYSE:BE) – Bloom Energy shares rose 5.3% in pre-market despite a larger quarterly loss and lower revenues. In the first quarter, Bloom Energy recorded a loss of $57.5 million, or 25 cents per share, compared to a loss of $71.6 million, or 35 cents per share, in the same period last year. Revenue fell 15% to $235.3 million. Product and service revenues totaled $209.8 million, a drop of 11%. The company announced a deal with Intel (NASDAQ:INTC) for the largest fuel cell-powered data center in Silicon Valley. The outlook for 2024 remains unchanged, with revenues between $1.4 billion and $1.6 billion.
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