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Hewlett Packard Up 15% in Pre-Market, Stitch Fix Climbs 17% After Beating Forecasts, and More on Earnings

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June 05 2024 3:35AM

Hewlett Packard Enterprise (NYSE:HPE) – Hewlett Packard Enterprise exceeded revenue expectations, driven by strong demand for AI servers, projecting third-quarter revenue between $7.4 billion and $7.8 billion. In the second quarter, HP Enterprise reported revenue of $7.2 billion, a 3% increase from the previous year, and above FactSet’s forecast of $6.8 billion. Adjusted earnings of 42 cents per share were above the expected 39 cents. Shares are up 14.5% in pre-market trading.

Stitch Fix (NASDAQ:SFIX) – Stitch Fix reported a loss of $21.3 million, or 18 cents per share, better than expected. Revenue fell 16% to $323 million, with a positive outlook for the next quarter between $312 million and $322 million. The annual revenue forecast is between $1.33 billion and $1.34 billion, above analysts’ estimates of approximately $1.31 billion. Shares jumped 17.2% in pre-market trading.

CrowdStrike (NASDAQ:CRWD) – In the first quarter, CrowdStrike reported adjusted earnings of 93 cents per share, with revenue of $921 million, surpassing analysts’ expectations of 89 cents per share in earnings and $905 million in revenue. Net income reached $42.8 million. For the current quarter, CrowdStrike projected total revenue between $958.3 million and $961.2 million, with adjusted earnings per share in the range of 98 to 99 cents. These forecasts exceed analysts’ estimates of $955 million in revenue and 91 cents per share. As a result, the company’s shares increased by 7.4% in pre-market trading.

Verint Systems (NASDAQ:VRNT) – In the first quarter, Verint Systems reported adjusted earnings per share of 59 cents, with revenue of $221.3 million. These numbers surpassed analysts’ expectations of 54 cents per share in earnings and $214.5 million in revenue. The company projected fiscal year 2025 earnings per share of $2.90 and revenue between $914.3 million and $951.7 million, compared to the consensus estimate of $2.88 and $932.8 million, respectively.

Guidewire Software (NYSE:GWRE) – In the third quarter, Guidewire Software announced earnings per share of 26 cents, significantly exceeding analysts’ estimate of 13 cents per share. Additionally, the company reported revenue of $240.68 million, representing a 4.07% increase over analysts’ expectations of $231.27 million. The company raised its full-year revenue outlook to a range of $968 million to $976 million, surpassing analysts’ forecast of $964.4 million according to FactSet.

Bath & Body Works (NYSE:BBWI) – Bath & Body Works reported adjusted earnings in the first quarter of 38 cents per share and revenue of $1.38 billion, better than Wall Street’s expectations of 33 cents per share and $1.37 billion in revenue. The company adjusted its annual forecasts to reflect a challenging economic environment, expecting net sales to decline between 2.5% and stagnation. Adjusted earnings per share for the year are projected between $3.05 and $3.35, below the expected average of $3.31. Shares rose 0.3% in pre-market trading.

PVH Corp. (NYSE:PVH) – In the first quarter, PVH Corp. achieved net income of $151.4 million, or $2.45 adjusted per share, while revenue decreased by 10% to $1.952 billion. The results exceeded analysts’ expectations of $2.17 per share in adjusted earnings and $1.93 billion in sales. PVH Corp. updated its annual earnings projections to $11 to $11.25 per share, surpassing the previous estimate of $10.75 to $11, even with an expected 6% to 7% decline in annual sales.

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