Recent Corporate Earnings Updates

by Warren Seah

Snowflake’s Revenue Outlook Falls Short

Snowflake tumbled 22% after the company’s revenue outlook for the fiscal first quarter and year came up short of expectations. The cloud-data company also announced that Frank Slootman was stepping down as chief executive “effective immediately.” Sridhar Ramaswamy, senior vice president of AI at Snowflake, will be taking over. Ramaswamy mentioned in an interview that Snowflake’s guidance is based on historical consumption patterns and that the forecast provided was conservative.

Salesforce’s Lower Revenue Expectations

Salesforce was falling 2.4% after revealing it expects revenue in fiscal 2025 to be between $37.7 billion to $38 billion, below analysts’ projections. Despite this, Salesforce’s fourth-quarter earnings and revenue exceeded Wall Street estimates. The company also announced its first-ever dividend and a $10 billion increase to its stock repurchase program.

HP Inc.’s Mixed Results

HP Inc. declined 2.4% after reporting that its fiscal first-quarter earnings matched analysts’ estimates. However, revenue of $13.19 billion fell from a year earlier and missed forecasts. The company noted ongoing softness in its personal computer business but expressed optimism about a potential rebound. Surges on Strong Quarterly Results

Shares of jumped 14% after the maker of enterprise artificial intelligence software posted a fiscal third-quarter adjusted loss of 13 cents a share, which was narrower than analysts’ expectations. The company also reported revenue of $78.4 million, up from $66.7 million a year earlier, surpassing analysts’ estimates. Subscription revenue showed strong growth, increasing by 23% to $70.4 million.

Corporate Earnings Recap

Okta Exceeds Expectations

Okta, the identity-management company, has reported that it anticipates fiscal first-quarter revenue between $603 million and $605 million, with adjusted earnings of 54 cents to 55 cents per share. This announcement surpasses analysts’ predictions of revenue hitting $584 million and earnings of 41 cents a share. The company’s revenue in the fourth quarter soared to $605 million from $510 million, significantly surpassing expectations of $587.2 million. As a result, their stock experienced a notable surge of 22%.

Duolingo Thrives

Following the release of fourth-quarter earnings and sales that outperformed analysts’ expectations, Duolingo saw a remarkable 21% jump in its stock. The language learning company revealed that their daily active users increased by 65% compared to the previous year, while monthly active users rose by 46%.

AMC Entertainment Grows Amid Challenges

Fourth-quarter revenue for AMC Entertainment showed a nearly 12% increase, reaching $1.1 billion, surpassing expectations of $1.06 billion. CEO Adam Aron attributed this success to partnership deals surrounding concert movies of popular artists such as Taylor Swift and Beyonce. Despite these achievements, AMC shares experienced a decline of 9.8%.

Marathon Digital Makes Gains

In a notable turnaround, crypto miner Marathon Digital reported earnings of 66 cents per share in the fourth quarter compared to a loss of $3.13 the previous year. Additionally, their revenue significantly increased from $28.4 million to $156.8 million, surpassing analysts’ forecasts. Although the stock saw a slight decrease of 2.6% in premarket trading, Marathon Digital has seen a remarkable 395% rise over the past 12 months.

Shoals Technologies Faces Setback

Shoals Technologies experienced a 19% decline after reporting fourth-quarter adjusted earnings of 12 cents per share, falling short of Wall Street’s estimate of 17 cents.

Upcoming Earnings Reports

  • Dell Technologies
  • Autodesk
  • Zscaler
  • Hewlett Packard Enterprise
  • NetApp
  • Hormel Foods
  • Best Buy
  • Elastic
  • Bath & Body Works

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