After its latest quarterly results exceeded expectations, Affirm experienced a 10.8% increase in its stock value. Despite posting a loss of 69 cents per share, the company managed to generate $446 million in revenue, outperforming predictions by analysts who had anticipated a loss of 85 cents per share on $406 million in revenue. The CEO attributed this success to improved credit outcomes and accelerated growth trends.
In contrast, Nordstrom encountered a nearly 4% decline in its shares following its second-quarter report. Despite beating projections for both earnings and revenue, the company faced an 8.3% reduction in sales compared to the same period last year.
Gap’s stock, on the other hand, rose by almost 2% despite a mixed quarterly report. Although Gap exceeded Refinitiv estimates by reporting 34 cents per share (adjusted), its revenue fell short, reaching $3.55 billion instead of the anticipated $3.57 billion. The company improved its inventory position but anticipates a low double-digit year-over-year revenue decline in the third quarter, contrasting with analyst expectations of a 6.8% decrease.
Despite Marvell Tech’s quarterly results surpassing Wall Street estimates, its shares plummeted over 5%. Earnings per share stood at 33 cents (excluding items), slightly higher than the projected 32 cents, while revenue reached $1.34 billion, slightly surpassing the expected $1.33 billion.
Ulta Beauty’s shares rose by more than 2% as its second-quarter performance exceeded predictions. The company’s earnings of $6.02 per share and $2.51 billion in revenue outperformed Refinitiv’s forecasts of $5.85 per share and $2.51 billion in revenue. Ulta Beauty also upgraded its full-year outlook.
Despite beating earnings and revenue expectations, Intuit encountered a share decrease of over 2%. While its fiscal fourth-quarter results were promising, the company’s projection for first-quarter revenue growth, set between 10% and 11%, fell below the estimated 13% growth anticipated by analysts.
Workday, a cloud-based enterprise management firm, experienced a 4% surge in its stock following a second-quarter report that exceeded expectations for both top and bottom lines. Additionally, the company raised its subscription revenue forecast for fiscal 2024.