Broadcom, a semiconductor company, saw its shares dip by 3% after posting a full-year revenue guidance that met analysts’ expectations. The company reported adjusted earnings of $10.99 per share for the fiscal first quarter, exceeding analysts’ expectations of $10.29 per share. Additionally, Broadcom’s revenue came in at $11.96 billion, higher than the forecasted $11.72 billion.
Marvell Technology, a data infrastructure semiconductor products supplier, experienced an 8% drop in shares after posting light first-quarter revenue guidance of $1.15 billion. Analysts had anticipated revenue to be $1.37 billion. The company also provided softer-than-expected guidance for adjusted earnings for the first quarter.
Gap, an apparel retailer, witnessed a 7% increase in its stock price after surpassing analysts’ expectations for the latest quarter. The company reported earnings per share of 49 cents on $4.3 billion in revenue, exceeding the anticipated earnings of 23 cents per share on $4.22 billion in revenue. Gap’s Old Navy brand also returned to growth for the first time in over a year, contributing to the overall gross margin growth.
Costco Wholesale experienced a 4% dip in shares after slightly missing revenue expectations in the fiscal second quarter. The company reported $58.44 billion in revenue, falling short of analysts’ expectations of $59.16 billion.
Shares of MongoDB, a database software maker, slid by 12% after giving disappointing first-quarter and full-year guidance. Despite beating fourth-quarter expectations with adjusted earnings of 86 cents per share, the company’s guidance fell below analysts’ forecasts. The revenue for the quarterly period was $458 million, surpassing expectations of $433 million.
DocuSign, a provider of electronic signature products, saw its shares soar by 12% after exceeding expectations and providing positive first-quarter guidance. The company reported fourth-quarter adjusted earnings of 76 cents per share on revenue of $712 million, outperforming analysts’ estimated earnings of 64 cents per share on $699 million in revenue.
Samsara, an Internet of Things company, experienced a 15% increase in shares after posting fourth-quarter revenue of $276 million, surpassing analysts’ expectations of $258 million.
The after-hours trading session showcased a mix of performance results from various companies. While some companies like Gap and DocuSign exceeded expectations and witnessed a surge in their stock prices, others like Marvell Technology and Broadcom faced a dip due to their performance falling short of analysts’ forecasts. Such fluctuations in stock prices highlight the volatility and unpredictability of the market, making it essential for investors to thoroughly analyze company reports and guidance before making investment decisions.