Several companies made headlines in after-hours trading, with Ulta Beauty seeing a nearly 7% drop in shares after missing top and bottom line expectations in the second quarter. Ulta reported earnings of $5.30 per share, falling short of analysts’ forecast of $5.46 per share, and revenue of $2.55 billion, also below the expected $2.61 billion. The company also reduced its full-year outlook. On the other hand, MongoDB saw a 13% rise in shares after issuing strong fiscal third-quarter guidance, with adjusted earnings projected to be between 65 cents and 68 cents per share on revenue of $493 million to $497 million, exceeding analysts’ expectations.
Dell Technologies also saw its shares jump 3.6% after beating quarterly expectations, reporting fiscal second-quarter adjusted earnings of $1.89 per share, higher than analysts’ estimate of $1.71 per share, and revenue of $25.03 billion, surpassing the forecast of $24.53 billion. Additionally, Marvell Technology experienced a nearly 9% increase in shares after issuing fiscal third-quarter guidance that surpassed analysts’ expectations, with projected adjusted earnings of 40 cents per share on revenue of $1.45 billion, higher than the anticipated 38 cents per share in earnings and $1.40 billion in revenue.
Lululemon Athletica’s shares rose by 6% following the company’s better-than-expected earnings, despite lackluster revenue in the second quarter. Lululemon reported earnings of $3.15 per share on revenue of $2.37 billion, surpassing analysts’ expectations of $2.93 per share on revenue of $2.41 billion. However, Elastic NV experienced a 23% drop in shares after issuing a weak outlook for fiscal second-quarter revenue, projecting $353 million to $355 million compared to analysts’ estimate of $361 million. The full-year revenue guidance was also soft, even though fiscal first-quarter results exceeded Wall Street’s expectations.
Overall, the companies making headlines in after-hours trading displayed a mix of outcomes, with some surpassing expectations and others falling short. Ulta Beauty and Elastic NV saw drops in shares due to missed expectations, while MongoDB, Dell Technologies, Marvell Technology, and Lululemon Athletica saw increases in shares following better-than-expected results. The varying performances reflect the diverse nature of the market and the importance of meeting or exceeding analysts’ forecasts for investor confidence. Each company’s outlook and guidance for future quarters will also be closely monitored to gauge their long-term performance and potential growth opportunities.
