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Earnings

Intuit (NASDAQ:INTU) Posts Better-Than-Expected Sales In Q1, Next Quarter's Growth Looks Optimistic

May 23, 2024
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Earnings

Workday's (NASDAQ:WDAY) Q1: Beats On Revenue But Stock Drops

Finance and HR software company Workday (NASDAQ:WDAY) reported Q1 CY2024 results topping analysts' expectations, with revenue up 18.1% year on year to $1.99 billion. It made a non-GAAP profit of $1.74 per share, improving from its profit of $1.31 per share in the same quarter last year.

May 23, 2024
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Why It Moves

Why VF Corp (VFC) Shares Are Trading Lower Today

Shares of lifestyle clothing conglomerate VF Corp (NYSE:VFC) fell 15.8% in the pre-market session after the company reported first-quarter earnings results with revenue, operating margin, and EPS falling short of Wall Street's estimates. The topline miss was driven by weaknesses in the US wholesale market, which affected The North Face® (revenue down 5% y/y) brand. The Vans® brand also recorded a 26% sales decline, in line with the weaknesses observed in recent quarters and also partly due to efforts to right-size its inventories. Its full-year free cash flow guidance also missed analysts' expectations. Guidance wasn't encouraging as the company expects revenue to remain challenged in the near term. Overall, this was a bad quarter for VF Corp.

May 23, 2024
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Why It Moves

Why Is Zuora (ZUO) Stock Soaring Today

Shares of subscription management platform Zuora (NYSE:ZUO) jumped 11.6% in the pre-market session after the company reported first quarter earnings results. Revenue in the quarter beat by a modest amount, but operating income beat by a convincing margin. While full year revenue guidance was maintained, the company raised its full year outlook for operating profit. Said differently, topline growth is in line with expectations, but it's more profitable and efficient growth. Overall, this was a solid quarter for Zuora. After the initial pop the shares cooled down to $10.34, up 4.9% from previous close.

May 23, 2024
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Why It Moves

Why LiveRamp (RAMP) Stock Is Trading Up Today

Shares of advertising data platform LiveRamp (NYSE:RAMP) jumped 17.1% in the pre-market session after the company reported first-quarter results that exceeded analysts' revenue expectations. The topline benefitted from the completion of the acquisition of Habu, which contributed $2m to revenues during the quarter. In addition, the company called out a "stronger-than-expected digital advertising market." Moreover, the company's strategy to focus more on large customers seems to be working out nicely, as it added 10 new $1 million plus subscription customers. This partly offset weaknesses stemming from longer sales cycles and softness with smaller ACV customers observed during the quarter. Moving on, next quarter's revenue guidance came in higher than Wall Street's estimates. Overall, we think this was a strong quarter that should satisfy shareholders.

May 23, 2024
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Why It Moves

Why Nvidia (NVDA) Stock Is Up Today

Shares of leading designer of graphics chips Nvidia (NASDAQ:NVDA) jumped 11.2% in the afternoon session after the company reported first quarter earnings results. Nvidia recorded healthy gross margin improvement, indicating elevated pricing power. Its revenue and EPS outperformed Wall Street's estimates, driven by better-than-expected results in its data center and automotive segments; the result in its automotive segment (17% year-on-year revenue growth) was especially impressive given the industry is in a cyclical downturn and many other semiconductor companies have posted year-on-year declines for that end market. Lastly, its inventory levels increased, likely due to the company stocking up on products in anticipation of strong demand. 

May 23, 2024
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Why It Moves

Why Is e.l.f. (ELF) Stock Rocketing Higher Today

Shares of cosmetics company e.l.f. Beauty (NYSE:ELF) jumped 22% in the afternoon session after the company reported first-quarter earnings results. e.l.f. blew past analysts' EPS expectations. Its revenue (up 71% y/y) also outperformed Wall Street's estimates, driven by higher unit volumes and mix. In FY'24, the company surpassed the milestone of $1B in annual sales. On the other hand, its operating margin missed analysts' expectations, and its full-year revenue and earnings guidance missed Wall Street's estimates. The company provided conservative guidance partly due to concerns about macro uncertainty, with the FY'25 sales forecast pointing to a significant growth deceleration and implying 21.1% growth (vs. 77.2% in FY2024). Overall, this was a mixed yet decent quarter for e.l.f.

May 23, 2024
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Post-Earnings

Unpacking Q1 Earnings: Fiverr (NYSE:FVRR) In The Context Of Other Gig Economy Stocks

As the Q1 earnings season comes to a close, it’s time to take stock of this quarter's best and worst performers in the gig economy industry, including Fiverr (NYSE:FVRR) and its peers.

May 23, 2024
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Post-Earnings

Q1 Rundown: Texas Instruments (NASDAQ:TXN) Vs Other Analog Semiconductors Stocks

As the Q1 earnings season wraps, let's dig into this quarter's best and worst performers in the analog semiconductors industry, including Texas Instruments (NASDAQ:TXN) and its peers.

May 23, 2024
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Post-Earnings

Video Gaming Stocks Q1 Highlights: Roblox (NYSE:RBLX)

The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how Roblox (NYSE:RBLX) and the rest of the video gaming stocks fared in Q1.

May 23, 2024