Lyft shares ended Friday trading at $10.31, slumping -36.4% -- the sharpest percent decline ever. At least eight analysts downgraded the ride-hailing company's stock following its earnings report (according to FactSet data). While Lyft’s Q4 adjusted earnings of $126.7 million beat Street forecasts, it disappointed on guidance. According to the company’s statement, it likely won't achieve its...
Activision Blizzard posted fourth quarter sales that beat analysts’ expectations, amidst its success with its 'Call of Duty' franchise during the holiday season. The video game company’s adjusted revenues (which exclude deferrals) for the three months ending in December surged +43.4% from the year-ago quarter to $3.57 billion, well above analysts' forecast of $3.16 billion. Game net bookings...
Zoom Video Communications shares climbed on Tuesday, after the video conferencing company announced plans to layoff around 15% of its global workforce. The job cuts of 1,300 would be accompanied by a 98% pay cut for CEO Eric Yuan, who will also be giving up his fiscal 2023 bonus. Zoom's leadership team will also see their salaries get reduced by 20% for the coming fiscal year, and forego...
Automatic Data Processing, Inc. posted second-quarter fiscal 2023 earnings that exceeded analysts’ expectations. The human resources management company’s adjusted earnings per share for the quarter grew +19% from the year-ago quarter to $1.96, surpassing the Zacks Consensus Estimate by 0.5% (according to Zacks Equity Research). Total revenues were up +9.1% year-over-year to $4.4 billion,...
Morgan Stanley initiated coverage on Akili Inc. with a rating of Equal Weight and a price target of $2 on the stock. According to the analyst, the digital medicine company’s product EndeavorRx could generate more than $200 million in peak sales in ADHD. EndeavorRx got marketing authorization from the FDA in mid-2020 as a medical device for patients aged 8-12 with ADHD, and a commercial launch...
Freight Technologies, Inc., which offers a real-time portal for B2B cross-border shipping and domestic shipping within the USMC region, now supports cross-border logistics requirements for a global electric-electronic equipment company. The equipment company has eighteen different factories and distribution centers across the U.S. and Mexico. Freight Technologies’ wholly owned subsidiary,...
Adobe shares climbed +6% in after-hours trading on Thursday, after the software giant announced its fiscal fourth-quarter earnings that surpassed analysts’ expectations. The company also provided a better-than-expected outlook. Adjusted earnings for the quarter ending Dec. 2 came in at $3.60 per share, beating the $3.50 per share expected by analysts. Revenue grew +10% from the year-ago...
Coupa Software posted its third quarter non-GAAP net income of 15 cents per share, exceeding the Zacks Consensus Estimate by 4 cents (according to Zacks Equity Research). The figure was 31 cents per share in the year-ago quarter. Revenues was $217.3 million, growing from the year-ago quarter’s $185.8 million, and topping the Zacks Consensus Estimate of $212 million. The company’s revenue from...
Descartes Systems posted third quarter adjusted earnings of $0.31 per share, which exceeded the Zacks Consensus Estimate of $0.27 per share (according to Zacks Equity Research). This compares to earnings of $0.30 per share a year ago. Revenues came in at $121.47 million, falling short of the Zacks Consensus Estimate by 1.33% (according to Zacks Equity Research). The figure is higher than the...
Zuora Inc. quarterly earnings that beat expectations, but provided a lower-than-expected guidance. It also announced plans to retrench around 11% of its staff. The software company incurred a fiscal third-quarter net loss of -$37.0 million, or -28 cents a share, worse than the year-ago loss of -$22.9 million, or -18 cents a share. On an adjusted basis, Zuora lost -2 cents a share, flattish...
Workday posted its fiscal Q3 quarterly adjusted earnings of $0.99 per share, which exceeded the Zacks Consensus Estimate of $0.84 per share. Earnings were $1.10 per share a year ago (according to Zacks Equity Research). Revenues came in at $1.6 billion for the quarter (rising from $1.33 billion a year ago), beating the Zacks Consensus Estimate by 1.18%. Subscription revenue climbed +22% to...
Autodesk posted third-quarter fiscal 2023 non-GAAP earnings of $1.70 per share, in line with the Zacks Consensus Estimate (as reported by Zacks Equity Research). Revenues grew +14% from the year-ago quarter to $1.28 billion, meeting the consensus (according to Zacks Equity Research ). On a constant-currency basis, revenues climbed +15%. The software company’s subscription revenues (~93% of...
Automatic Data Processing, Inc. posted its fiscal first quarter adjusted earnings of $1.86 per share, up +13% year-over-year, and exceeding analysts’ expectations of $1.79 per share (according to figures compiled by Thomson Reuters). Revenues in the quarter ending September grew +10% from the year-ago period to $4.2 billion. Revenue was up +11% in organic constant currency. Looking ahead, the...
Paychex, Inc. posted first-quarter fiscal 2022 adjusted earnings of $1.03 per share, which surpassed the Zacks Consensus Estimate by 6.2% . The earnings grew +15.7% from the year-ago quarter. The payroll solutions company’s revenues rose +11.4% year over year to $1.2 billion, beating expectations by 1.8%.(as reported by Zacks Equity Research). Revenues from Management Solutions segment were...
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Aurora Mobile reported a net loss of -RMB 24.4 million, which narrowed down 17% year over year. Total customer number grew +79% year over year to 4,709. Total deferred revenue was about RMB 100 million for the 9 consecutive quarters. Development services revenue was down -10% year over year, while subscription service rose +2% year-over-year Subscription Service revenue was up 2% year over...
IronNet is now laying off 35 percent of its staff, according to a recent federal filing (as reported by CRN). In June, the cybersecurity company had retrenched 17 percent of its staff. IronNet went public a year ago at a valuation of $1.2 billion. The company will replace its CFO and eliminate one of its co-CEO positions, as a cost saving measure (CRN mentions). Co-CEO William Welch has...
Adobe Inc. posted its third-quarter fiscal 2022 non-GAAP earnings came in at $3.40 per share, beating the Zacks Consensus Estimate by 2.1%. The figure improved 9.3% from the year-ago quarter. Revenues grew +13% from the year-ago quarter to $4.433 billion, which topped the Zacks Consensus Estimate of $4.430 billion. Subscription revenues increased +12.9% o year-over-year to $4.13 billion (~...
Guidewire Software posted its adjusted earnings of $0.03 per share for the quarter ended July 2022, crushing the Zacks Consensus Estimate of a loss of -$0.04 per share. It is, however, lower than the year-ago quarter’s $0.37 per share a year ago.. Revenues rose +7% from the year-ago quarter to $244.6 million, also surpassing the Zacks Consensus Estimate by 6.58%. Subscription and support...
Coupa Software reported adjusted earnings of 20 cents in a share for the second quarter, handily topping analyst’ expectations of 9 cents a share (based on FactSet poll). Revenue of $211.1 million also beat consensus of $203.8 million. The company offers payment management software for procurement, invoicing, sourcing and business expenses. For the current quarter, Coupa is expecting earnings...