Hewlett-Packard Co. (HP) experienced a 5.6% drop in after-hours trading following its fiscal third-quarter revenue report, which fell short of Wall Street’s expectations. The company posted $13.2 billion in revenue, missing the estimate of $13.37 billion from analysts polled by Refinitiv. However, earnings per share came in line with expectations at 86 cents, excluding items.
In contrast, Hewlett Packard Enterprise, a separate entity from HP, retreated about 1% after narrowly beating expectations on both lines in its fiscal third quarter. The technology stock posted adjusted earnings of 49 cents per share on revenue of $7 billion, surpassing analysts’ estimates of 47 cents per share and revenue of $6.99 billion.
Meanwhile, Box, a cloud stock, experienced a 7% decline in after-hours trading due to a mixed second-quarter report. While the company’s revenue of $261 million aligned with Wall Street’s estimates, Box’s adjusted earnings of 36 cents per share exceeded analysts’ expectations by 1 cent. However, the company provided weak guidance for both the current quarter and full-year revenue.
Semiconductor maker Ambarella also faced a significant decline of nearly 14% in after-hours trading. Despite beating expectations in the second quarter, the company’s soft current-quarter guidance overshadowed its strong report. Ambarella projected $50 million in third-quarter revenue, falling short of the $67.6 million anticipated by analysts surveyed by Refinitiv.
On a positive note, PVH, the parent company of Calvin Klein, saw a 2.6% increase in after-hours trading following a strong financial report. PVH reported $1.98 in earnings per share, excluding items, on $2.21 billion in revenue, surpassing analysts’ forecast of $1.76 per share and revenue of $2.19 billion. The company also reaffirmed its full-year revenue guidance and raised its outlook for earnings per share for the year.
Overall, these companies made headlines in after-hours trading due to their quarterly reports and revenue performances. While some experienced declines, others saw positive outcomes, highlighting the volatility and competitiveness of the market.
How did Hewlett-Packard Co. (HP) perform in after-hours trading following its fiscal third-quarter revenue report?
Hewlett-Packard Co. (HP) took a hit in after-hours trading, with a 5.6% drop, after its fiscal third-quarter revenue report fell short of Wall Street’s expectations. The company posted $13.2 billion in revenue, missing analysts’ estimate of $13.37 billion. However, earnings per share met expectations at 86 cents, excluding items.
In contrast, Hewlett Packard Enterprise had a more positive outcome, slipping only 1% after barely surpassing expectations in its fiscal third quarter. The tech giant reported adjusted earnings of 49 cents per share on revenue of $7 billion, exceeding analysts’ estimates.
Cloud stock Box saw a 7% decline in after-hours trading due to a mixed second-quarter report. While the company’s revenue aligned with Wall Street’s estimates, its adjusted earnings were slightly higher than expected. However, weak guidance for future revenue impacted investor confidence.
Semiconductor maker Ambarella experienced a significant decline of nearly 14% in after-hours trading, despite beating expectations in the second quarter. The company’s soft guidance for the next quarter overshadowed its strong performance, resulting in the stock taking a hit.
On a positive note, PVH, the parent company of Calvin Klein, saw a 2.6% increase in after-hours trading following a strong financial report. PVH reported higher-than-expected earnings and revenue, reaffirmed its full-year revenue guidance, and raised its outlook for earnings per share for the year.
These companies attracted attention in after-hours trading due to their quarterly reports and revenue performances. Some experienced dips, while others celebrated positive outcomes. These events highlight the volatile and competitive nature of the market.
These companies have garnered impressive success in their respective industries, showcasing the power of innovation, technology, and sophisticated business strategies.