Dell Technologies (NYSE:DELL) – The computer and technology solutions company beat estimates with total revenue of $25 billion (+9% YOY), above the expected $24.1 billion. Net income was $841 million, or $1.17 per share, compared to $455 million, or $0.63 per share last year. The infrastructure group’s revenue grew 38% to $11.64 billion, beating the $10.79 billion forecast, driven by an 80% increase in server sales, especially for AI. For the quarter, Dell projects adjusted earnings of $2.00 per share, below the expected $2.19. The company also expects $24.5 billion in revenue at the midpoint, while analysts expected $24.6 billion. Dell said it spent $1 billion in the quarter on share buybacks and dividends. Shares are up 6.2% pre-market, after closing down 0.7% on Thursday.
Elastic (NYSE:ESTC) – The data search and analytics company reported adjusted earnings of $0.35 per share and revenue of $347 million in the first fiscal quarter, beating estimates of $0.25 and $344.66 million, respectively. The company projects second-quarter earnings of $0.37 to $0.39 per share and revenue of $353 to $355 million, below expectations of $0.34 and $360.8 million. For the fiscal year, the forecast is adjusted earnings of $1.52 to $1.56 per share and revenue of $1.436 to $1.444 billion, lower than the consensus of $1.42 and $1.478 billion. Shares are down 26.7% pre-market, after closing up 0.6% on Thursday.
Lululemon Athletica (NASDAQ:LULU) – The sportswear and accessories company reported revenue of $2.37 billion, below the expected $2.41 billion. Net income was $393 million, or $3.15 per share, beating the $2.93 expected. The company reduced its annual revenue forecast to $10.38-10.48 billion and expects adjusted earnings of $13.95 to $14.15 per share, down from previous guidance. After criticism of its “Breezethrough” leggings, Lululemon Athletica pulled the product from shelves. The company promised to quickly launch new popular styles and accelerate the offering of sports and office wear in 2025. Shares are up 4.6% pre-market, after closing up 0.1% on Thursday.
Ulta Beauty (NASDAQ:ULTA) – The beauty and cosmetics company reported second-quarter revenue of $2.55 billion and earnings per share of $5.30, below expectations of $2.61 billion and $5.46, respectively. Comparable sales fell 1.2%. The company revised its annual revenue forecast to $11-11.2 billion and earnings per share to $22.60-23.50, below previous forecasts. Shares are down 6.7% pre-market, after closing up 0.2% on Thursday.
Marvell Technology (NASDAQ:MRVL) – The semiconductor and communication solutions company reported second-quarter net revenue of $1.273 billion, above the estimate of $1.252 billion. GAAP gross margin was 46.2%, with a net loss of $193.3 million, or $(0.22) per share. The forecast for the third quarter is revenue of $1.45 billion, with a gross margin of 47.2%. Shares are up 9.0% pre-market, after closing up 2.1% on Thursday.
Gap Inc. (NYSE:GAP) – The clothing and accessories retailer reported net income of $206 million, or 54 cents per share, beating last year’s $117 million and 32 cents per share. Revenue was $3.7 billion, above the expected $3.63 billion. Comparable sales increased 3%, with Old Navy exceeding expectations and Athleta falling 4%. The company raised its gross margin forecast to a 200-basis point increase and maintained its annual sales estimate. Shares are up 0.5% pre-market, after closing up 1.7% on Thursday.
Autodesk (NASDAQ:ADSK) – The design and engineering software company reported earnings per share of $2.15, beating the estimate of $2.00. Revenue was $1.51 billion, above the expected $1.48 billion. For the third quarter, the company projects EPS between $2.08 and $2.14 and revenue between $1.56 billion and $1.57 billion. The fiscal 2025 forecast is EPS between $8.18 and $8.31 and revenue between $6.08 billion and $6.13 billion. Autodesk raised its annual earnings forecast after pressure from activist investor Starboard Value LP. The adjustment, which exceeds previous estimates, reflects an effort to improve margins and efficiency after accounting delays and leadership changes. Shares are up 4.1% pre-market, after closing up 1.4% on Thursday.
MongoDB (NASDAQ:MDB) – The NoSQL database and technology company reported adjusted earnings per share of $0.70, beating the estimate of $0.49. Second-quarter revenue was $478.1 million, above the expected $464.94 million. The company raised its annual EPS forecast to $2.33–2.47 and revenue to $1.92–1.93 billion. For the third quarter, the expectation is EPS of $0.65–0.68 and revenue of $493–497 million. Shares are up 14.4% pre-market, after closing up 4.4% on Thursday.
3D Systems (NYSE:DDD) – The 3D printing and related solutions company reported a second-quarter loss per share of $0.14, worse than the estimate of $0.05. Revenue was $113.3 million, below the forecast of $116.56 million. For fiscal 2024, the company expects revenue of $450-460 million, below the consensus of $474 million.
A-Mark Precious Metals (NASDAQ:AMRK) – The precious metals trading company had fourth-quarter revenue of $2.52 billion, 19% lower than the previous year. Diluted earnings per share fell 30% to $1.20. Gross profit was reduced by 45% to $43 million. Gold and silver sales decreased by 45% and 44%, respectively, compared to the previous year. Preliminary non-GAAP EBITDA was $104.2 million.
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