Samsara Stock Surges 15% After Earnings Beat, MongoDB Faces 8% Decline Amid Gloomy Forecast
March 08 2024 - 6:21AM
IH Market News
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.
Broadcom (NASDAQ:AVGO)
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