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Dell Shares Drop 15% in Pre-Market; Gap Soars 24% on Surprising Quarterly Profits, and More in Earnings

Fernanda T
Latest News
May 31 2024 7:50AM

Gap (NYSE:GPS) – Gap reported quarterly earnings of 41 cents per share, along with revenues of $3.39 billion in the first quarter. Analysts surveyed by LSEG had forecasted earnings of 14 cents per share and revenue of $3.29 billion. Shares rose 23.5% in pre-market trading.

Dell Technologies (NYSE:DELL) – Dell reported adjusted earnings of $1.27 per share in the first quarter while analysts surveyed by LSEG expected earnings per share of $1.26. Revenue of $22.24 billion grew 6% year over year and surpassed expectations of $21.64 billion. Dell’s net income was $955 million, an increase year over year. Shares fell -15.1% in pre-market trading.

Nordstrom (NYSE:JWN) – In the first quarter, the luxury department store company reported a loss per share of 24 cents, exceeding analysts’ expectations from LSEG, who had forecasted a loss of 8 cents per share. However, the period’s revenue positively surprised, reaching $3.34 billion, surpassing the consensus estimate of $3.20 billion. Shares fell 7.4% in pre-market trading.

Ulta Beauty (NASDAQ:ULTA) – In the first quarter, the cosmetics and beauty products retailer reported net income of $313.1 million, or $6.47 per share, compared to $347.1 million, or $6.88 per share, in the same period last year. Revenue of $2.73 billion slightly exceeded estimates of $2.72 billion. Ulta Beauty lowered its projections for the fiscal year, expecting net sales between $11.5 billion and $11.6 billion, with comparable sales growth of 2% to 3%, and a downward revision of earnings per share guidance to $25.20 to $26. Shares rose 7% in pre-market trading.

Costco Wholesale (NASDAQ:COST) – Costco Wholesale reported earnings of $3.78 per share on revenue of $57.4 billion. Analysts surveyed by LSEG had forecasted earnings per share of $3.70 and revenue of $58.07 billion. Same-store sales in the US increased 6%, in line with expectations. Revenue, although below estimates, grew 9.1% year over year. Additionally, investors may have been disappointed by the lack of announcement regarding the company’s annual membership fee increase, which has remained unchanged since 2017.

PagerDuty (NYSE:PD) – PagerDuty shares rose 10.9% in pre-market trading after reporting mixed results in the last quarter, with revenue exceeding expectations. In the first fiscal quarter, revenue was $111.2 million, within the company’s guidance, but slightly below consensus. Adjusted earnings were 17 cents per share, surpassing expectations. Additionally, the company announced its first share buyback program, worth $100 million.

Marvell Technology (NASDAQ:MRVL) – In the first quarter, the semiconductor and storage solutions company reported adjusted earnings of 24 cents per share on revenue of $1.16 billion. Analysts surveyed by LSEG estimated earnings per share of 25 cents and revenue of $1.17 billion. Shares fell -5.0% in pre-market trading.

SentinelOne (NYSE:S) – In the first quarter, the endpoint protection cybersecurity company reported an adjusted loss per share of one cent, above the expected loss of five cents per share by analysts. Revenue saw a significant increase of 40% from the previous year, reaching $186.4 million, surpassing the consensus estimate of $181.11 million. However, SentinelOne shares fell -14.0% in pre-market trading after projecting revenues between $808 million and $815 million for the year, below LSEG’s estimate of $817 million.

Zscaler (NASDAQ:ZS) – Zscaler achieved adjusted earnings of 88 cents per share during the quarter, while analysts surveyed by LSEG expected earnings per share of 66 cents. Revenue of $553.2 million increased by 32% from the previous year, surpassing analysts’ estimates of $536 million. For the next quarter, the cloud security company is projecting revenue of $565 million to $567 million, with adjusted earnings of 69 to 70 cents per share. Analyst consensus was revenue of $565 million and earnings of 68 cents per share. Zscaler shares rose 17.3% in pre-market trading on Friday.

MongoDB (NASDAQ:MDB) – In the last quarter, MongoDB reported a net loss of $80.6 million, equivalent to $1.10 per share, compared to a loss of $54.2 million, or 77 cents per share, in the same period last year. Adjusted results revealed earnings per share of 51 cents, surpassing expectations of 40 cents. Additionally, the company recorded revenue of $450.6 million, representing a 22% annual growth, compared to expectations of $439.7 million. The shares of the database software company fell -24.5% in pre-market trading.

Ambarella (NASDAQ:AMBA) – The semiconductor development and video processing solutions company reported an adjusted loss in the first quarter of 26 cents per share, lower than expected. Revenue was in line with expectations, reaching $54 million. Additionally, Ambarella expressed optimism about revenue growth throughout fiscal year 2025, driven by increasing demand for AI products.

NetApp (NASDAQ:NTAP) – In the fourth quarter, the data storage and management company reported adjusted earnings of $1.80 per share and revenue of $1.67 billion. Analysts surveyed by LSEG expected earnings per share of $1.79 on revenue of $1.66 billion. Shares rose 1.7% in pre-market trading.