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Micron Technology Inc.’s revenue dropped 47% in its fiscal first quarter, and management projected that the decline would worsen to more than 50% in the second quarter as layoffs are planned. Micron MU, +1.01% reported a loss of $195 million, or 18 cents a share, versus net income of $2.31 billion, or $2.04 a share, … Read more
Walt Disney Co. displaced Netflix Inc. as king of the video-streaming market, and it is expected to widen the gap. Disney DIS, +0.33% seized the mantle three months ago as its potent content troika of Disney+, Hulu and ESPN+ reached 221 million customers, edging Netflix’s 220 million subscribers. Analysts expect Disney to report more than … Read more
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