Adobe recently saw its stock plummet by 10% in after-hours trading due to disappointing guidance for the current quarter’s revenue. Despite this setback, the company managed to exceed analysts’ expectations for both the top and bottom lines in its fiscal first quarter. To appease investors, Adobe also announced a $25 billion share buyback program to provide further support for its stock price.
Ulta, the popular beauty retailer, experienced a 5% decline in after-hours trading as its full-year earnings outlook fell short of Wall Street’s forecast. The company projected earnings of $26 to $27 per share for the entire year, a range mostly below the anticipated $27 per share by analysts. Despite this disappointment, Ulta offered a positive revenue outlook and delivered stronger-than-expected results for the fourth quarter.
Cardlytics Soars on Positive Earnings
The advertising platform Cardlytics witnessed a significant 37% surge in after-hours trading after reporting positive adjusted earnings before interest, taxes, depreciation, and amortization for the full year, marking its first profitable year since 2019. Additionally, Cardlytics provided a robust guidance for the current quarter’s financial performance, exceeding Wall Street’s expectations.
PagerDuty, the incident response platform, experienced a 9% decline in after-hours trading due to weaker-than-expected earnings and revenue guidance for both the current quarter and full year. Despite this setback, the company managed to surpass analysts’ estimates for both metrics in the fourth quarter, indicating some positive performance amid the disappointing outlook.
The specialty retailer Zumiez saw a 5% drop in after-hours trading after providing a bleak outlook for the current quarter. Zumiez projected a loss per share between $1.09 and $1.19, significantly higher than the anticipated loss of just 34 cents per share by analysts. Furthermore, the company set its quarterly revenue guidance below expectations, adding to investor concerns.
Smartsheet Retreats on Revenue Concerns
The business software provider Smartsheet witnessed a 7% decline in after-hours trading as its revenue guidance disappointed Wall Street. Smartsheet advised investors to expect revenue between $257 million and $259 million for the current quarter and $1.113 billion and $1.118 billion for the full year, below analysts’ forecasts. This underwhelming guidance contributed to the stock’s decline in after-hours trading.