Shares of NVIDIA rose more than 7% in extended trading Wednesday as the company smashed through quarterly expectations and upgraded guidance to boot.
The company called for third-quarter revenue of $16 billion — compared to the $12.6 million expected on Wall Street. For its second quarter, the chipmaker posted earnings of $2.70 per share on revenue of $13.51 billion, well above the consensus estimate of $2.70 per share on revenue of $11.22 billion.
Guess Inc (NYSE:GES) shares popped nearly 20% after the fashion lifestyle brand’s second-quarter earnings topped expectations and it raised its full-year profit outlook.
For 2Q, Guess reported earnings per share of $0.72 on revenue of $665 million, above the Street estimates of EPS of $0.39 on revenue of $638.7 million, per the Zacks Consensus Estimate. This represented a 74% increase in earnings and a 3% increase in sales over the year-ago quarter.
Autodesk (NASDAQ:ADSK) Inc stock improved more than 5% after the company's second-quarter fiscal 2024 revenue rose 9% year-over-year to $1.35 billion, surpassing the analyst consensus estimate of $1.32 billion. Its earnings per share (EPS) for the period of $1.91 also exceeded expectations by $0.18.
Snowflake shares gained over 4% after the cloud data platform company posted revenue of $674 million, up 36% year-over-year, and earnings of $0.25 per share. Analysts had projected revenue of $662 million and earnings of $0.10 per share.
Product revenue (customers using Snowflake's software to store data) increased 37% year over year to $642 million.
Shares of cloud services firm Splunk Inc surged more than 10% on a second-quarter expectations beat. The company posted adjusted earnings of $0.71 per share on revenue of $910.6 million, compared to expectations of $0.46 per share on revenue of $889 million.
Splunk also narrowed its loss to $63.2 million from $209.7 million in the year-ago quarter.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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