Octa (OKTA): The stock fell in after-hours trading even though the company posted a narrower-than-expected loss. Okta reported an adjusted loss of 10 cents per share on revenue of $452 million. Street expected him to lose 31 cents on earnings of $429.8 million. This quarter’s subscriptions are up 44% from a year ago, bringing him to $435.4 million. Okta’s annual revenue is expected to be $1.81 billion to $1.82 billion, while the forecast is for him to be $1.82 billion. CEO and co-founder Todd McKinnon said on the earnings call that the company is “strategically reducing spending to improve profitability.”
Disney (DIS): Shares surged hours after reports that Disney was considering a membership program. According to The Wall Street Journal, Disney’s new program could include discounts and perks at theme parks, merchandise, resorts and streaming services to entice consumers to spend more money.
NVIDIA (NVDA): Warnings of new export restrictions put pressure on Nvidia’s stock after hours. At Nvidia, Nvidia revealed that the US government has imposed new licensing requirements on future exports of his A100 and future H100 integrated products to China, including Hong Kong, and Russia. The U.S. government indicated that “the new licensing requirements address the risk that covered products may be used or diverted for ‘military end uses’ or ‘military end users’ in China and Russia.” , noted that its third-quarter forecast provided earlier this month included about $400 million in potential sales to China, which could be affected by the new restrictions.
Veeva system (VEEV): The stock fell 11% after lowering its full-year earnings forecast. He now expects annual revenues of $2.14 billion to $2.15 billion, compared with previous projections of $2.17 billion to $2.18 billion. Second-quarter results exceeded expectations, with revenues of $534.2 million, up 17% year-over-year, and adjusted earnings of $1.03 per share.
the following five (five): Retailers cut full-year EPS forecasts to underperform second-quarter forecasts. This is because comparable sales fell by 5.8% year-on-year for him. Net sales totaled $668.9 million, short of Street’s estimate of he’s $683.2 million. Despite cutting guidance, Five Below repeated its expansion plans. CEO Joel Anderson said in the earnings call: New stores continue to be the engine of growth for our company and we are thrilled to be opening nearly 160 new stores this year as we prepare to open a record-breaking 200+ stores for him next year. “
Good Rex (GDRX): GoodRx Holdings is cutting 140 jobs, about 16% of the company’s workforce, according to Bloomberg. This reduction would save him $25 million in cash from $23 million in annual run rates. GoodRx’s stock has underperformed so far this year, down -81% since January 1.
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