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Text size UiPath, the robotic-process automation software company, cut its revenue outlook for the fiscal year. Courtesy UiPath UiPath stock was sinking Wednesday after the robotic-process automation software company cut its outlook for fiscal-year revenue citing “foreign exchange and macroeconomic volatility.” For the third quarter, UpPath (ticker: PATH) said it expects revenue of $243 million to $245 … Read more
Hewlett Packard Enterprise Co.’s profit and revenue grew last quarter, and executives on Tuesday predicted more earnings growth to round out the fiscal year. HPE HPE, -0.51% reported fiscal third-quarter earnings of $409 million, or 31 cents a share, on revenue of $7 billion, up from $6.9 billion a year ago. After adjusting for stock-based … Read more
Text size Splunk said 723 customers are generating more than $1 million in annualized revenue. Dreamstime Splunk posted better-than-expected results for its fiscal second quarter ended July 31, while boosting its revenue outlook for the January 2023 fiscal year. But the stock is trading sharply lower on a slowdown in the company’s new business pipeline. … Read more
Text size Fiscal fourth-quarter earnings and revenue at Estee Lauder beat analysts’ estimates. Gabby Jones/Bloomberg Estee Lauder shares were lower premarket trading Thursday after the beauty company said it expects fiscal first-quarter earnings below Wall Street estimates. Estee Lauder (ticker: EL) said it expects first-quarter earnings of between $1.22 a share and $1.32 a share, … Read more
Cisco Systems Inc. shares rose in extended trading Wednesday after the networking company forecast stronger-than-expected revenue growth in the months ahead, quelling fears of a slowdown in businesses’ technology spending. Cisco CSCO, -0.24% reported net income of $3.4 billion, or 68 cents a share, while revenue was flat from the year before at $13.1 billion. … Read more
Rivian Automotive Inc. reported its net loss in the second quarter nearly tripled to $1.7 billion, further pressuring the electric-vehicle startup to conserve cash and move quickly to fill customer orders. The California-based SUV and truck maker said revenue for the quarter was about $364 million as it increased production and deliveries of its first … Read more
Novavax Inc. executives slashed their annual sales guidance in half Monday while wildly missing financial expectations, sending shares down more than 30% in after-hours trading. Novavax NVAX, -5.01% now projects total 2022 revenue of $2 billion to $2.3 billion, after previously stating a goal of $4 billion to $5 billion. The U.S. Food and Drug … Read more
Upstart Holdings Inc. delivered a lower-than-expected revenue forecast for the current quarter, but its chief executive expressed confidence in the performance and value of artificial-intelligence-driven lending. Since Upstart UPST, +9.02% offered preliminary second-quarter results a month ago that fell shy of expectations, the key issue headed into the company’s official earnings report was its outlook. … Read more
Text size DraftKings reported revenue of $466 million for the second quarter, beating Wall Street estimates. Scott Eisen/Getty Images for DraftKings DraftKings gave investors a nice surprise Friday. The online sports betting platform lifted its financial forecast, despite a gloomy macro environment and just a few days after rivals Caesars Entertainment and PENN Entertainment reported … Read more
Cloudflare Inc. shares surged in the extended session Thursday after the cybersecurity company reported results that topped Wall Street expectations and hiked its revenue outlook for the year. Cloudflare NET, +0.12% shares rallied about 21% after hours, following a 0.1% advance in the regular session to close at $58.43. The company reported a second-quarter loss … Read more