Streetbeat News

Earnings

ESTC

Elastic NV's shares are trading higher by over 17% after reporting better-than-expected Q1 FY24 results and providing an above-consensus Q2 outlook. The company also raised its FY24 adjusted EPS guidance. Revenue rose 17% Y/Y to $293.75 million, beating the consensus of $284.44 million. Elastic Cloud revenue increased 24% Y/Y to $121 million. The company expects Q2 revenue of $303 million-$305 million and adjusted EPS of $0.23-$0.25. For FY24, the revenue outlook was revised to $1.242 billion-$1.250 billion.

Portfolio Pulse from Lekha Gupta

September 01, 2023 | 10:38 am

IOT

Samsara Inc (NYSE:IOT) reported Q2 FY24 revenue growth of 43% Y/Y to $219.3 million, beating the consensus of $207.49 million. The company ended Q2 with 1,515 customers with ARR over $100,000, up 53% Y/Y. Samsara raised the FY24 revenue outlook to $896 million-$900 million from $866 million – $874 million. IOT shares closed higher by 2.20% at $27.36 on Thursday.

Portfolio Pulse from Lekha Gupta

September 01, 2023 | 10:30 am

DDL

Dingdong (Cayman) (NYSE:DDL) is scheduled to report its second quarter earnings on September 1, 2023.

Portfolio Pulse from Benzinga Insights

September 01, 2023 | 10:17 am

AVGO

VMW

VMware Inc reported a 2% Y/Y increase in Q2 FY24 revenue to $3.41 billion, missing the consensus of $3.46 billion. Subscription and SaaS revenue increased 34% Y/Y to $1.26 billion. The company expects its transaction with Broadcom Inc. to be completed on October 30, 2023. VMW shares closed higher by 1.25% at $168.78 on Thursday.

Portfolio Pulse from Lekha Gupta

September 01, 2023 | 10:13 am

AVGO

DDL

HCP

PD

SKYT

UBS

Several major stocks including PagerDuty, Broadcom, HashiCorp, SkyWater Technology, Dingdong (Cayman) Limited, and UBS Group AG recorded losses in Friday's pre-market trading session. Despite posting upbeat Q2 results, these companies issued weak forecasts for the current quarter or FY24, leading to a decline in their share prices.

Portfolio Pulse from Lisa Levin

September 01, 2023 | 10:13 am

DDL

Dingdong (Cayman) (NYSE:DDL) reported a 90% decrease in Q2 adjusted earnings per share from $0.01 last year to $0.00 this year. Sales also decreased by 32.60% from $990.49 million to $667.60 million.

Portfolio Pulse from Benzinga Newsdesk

September 01, 2023 | 10:03 am

OXM

Oxford Industries Inc reported Q2 FY23 sales growth of 16% to $420.32 million, missing the analyst consensus of $424.27 million. The company's brands saw varied growth, with Tommy Bahama increasing 1%, Lilly Pulitzer rising 3%, and Emerging Brands gaining 6%. The company also reported a decrease in operating margin from 20.7% to 16.1% and a 10.2% fall in operating income to $67.7 million. Oxford lowered its FY23 sales outlook to $1.57 billion - $1.60 billion and adjusted EPS forecast to $10.30 - $10.60.

Portfolio Pulse from Shivani Kumaresan

September 01, 2023 | 9:57 am

NIO

NIO, the Chinese electric vehicle manufacturer, reported an 81% YoY increase in vehicle deliveries for August 2023, with a total of 19,329 vehicles delivered. The cumulative deliveries have reached 383,908 vehicles as of the end of the month.

Portfolio Pulse from Benzinga Newsdesk

September 01, 2023 | 9:34 am

ESTC

Elastic (ESTC) reported better-than-expected Q1 results, provided an above-consensus Q2 outlook, and raised its FY24 adjusted EPS guidance. This has led to a rise in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

September 01, 2023 | 9:28 am

KIMTF

TSLA

Kia America (OTC:KIMTF) reported record-breaking sales in August 2023, marking the company's most successful August sales and the second-highest monthly total in its history. The company sold 72,147 units, a 9% increase from the previous record set in 2022. Sales of battery-electric vehicles doubled compared to August 2022, and utility vehicle sales saw a 14% YoY increase. Kia also made headlines with the upcoming launch of its compact electric SUV, the EV5, in China, which is competitively priced against Tesla Inc.’s (NASDAQ:TSLA) Model Y.

Portfolio Pulse from Benzinga Neuro

September 01, 2023 | 9:27 am