Dell Technologies Inc. (NASDAQ:DELL) shares surged more than 7% in extended trading after the company’s second-quarter revenue and earnings easily exceeded expectations. For the quarter ended August 4, Dell posted revenue of $22.9 billion, down 13% year-over-year but well above the Street expectations of $20.9 billion. Adjusted earnings were $1.74, topping expectations of $1.14.
Dell benefitted from a stronger demand environment for artificial intelligence-optimized servers, according to COO Jeff Clarke. The company partnered with chipmaker darling Nvidia on Project Helix, an effort to help businesses use breakthrough generative AI.
Broadcom Corporation (NASDAQ:AVGO) stock declined nearly 5% after Thursday's close after the company reported third-quarter 2023 revenue that rose 5% year-over-year to $8.88 billion, while generating adjusted earnings per share (EPS) of $10.54.
Analysts expected adjusted EPS $10.42 on revenue of $8.86 billion, according to the Zacks Consensus Estimate.
Lululemon Athletica (NASDAQ:LULU) delivered strong second-quarter numbers that came in well ahead of expectations and led to a guidance increase for fiscal 2023, sending its shares up 1.2%.
The popular athletic wear chain saw sales increase by 18% to $2.2 billion, both ahead of Lululemon’s own 2Q guidance and the $2.17 billion expected by Wall Street analysts. Its 2Q earnings per share of $2.68 also handily beat analyst expectations of $2.53.
VMware Inc shares slid 1.4% despite a second-quarter earnings beat.
The cloud computing company reported adjusted earnings of $1.83 per share on revenue of $3.41 billion, compared to analyst expectations of $1.71 per share on revenue of $3.46 billion. Subscription and software-as-a-service revenue for the quarter was $1.26 billion, an increase of 34% year-over-year.
Tommy Bahama-parent Oxford Industries Inc (NYSE:OXM) (Oxford Industries Inc (NYSE:OXM) saw its shares fall 4.2% after the company missed expectations and lowered its full-year guidance.
The company posted adjusted earnings of $3.45 per share, just short of the Zacks Investment Research analyst consensus of $3.46 per share. Revenue was $420 million, up from $363 million a year earlier but below expectations of $424.27 million.