After-hours movers: Marvell surges on AI-driven results, Ulta falls on revenue miss By Investing.com

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After-hours movers: Marvell surges on AI-driven results, Ulta falls on revenue miss

Published May 25, 2023 22:20

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After-hours movers: Marvell surges on AI-driven results, Ulta falls on revenue miss

MRVL

+2.76%

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GPS

+2.82%

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WDAY

-8.49%

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ULTA

+1.65%

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TLRY

-2.08%

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After-Hours Movers:

Tilray (NASDAQ:TLRY) 19% LOWER; announced that it has commenced a registered offering of $150 million aggregate principal amount of Convertible Senior Notes due 2027

Marvell Technology (NASDAQ:MRVL) 14% HIGHER; reported Q1 EPS of $0.31, $0.02 better than the analyst estimate of $0.29. Revenue for the quarter came in at $1.32 billion versus the consensus estimate of $1.3B. Marvell Technology sees Q2 2024 EPS of $0.27-$0.37, versus the consensus of $0.31. Marvell Technology sees Q2 2024 revenue of $1.33B, versus the consensus of $1.31B. The company is forecasting AI revenue in fiscal 2024 to at least double from the prior year and continue to grow rapidly in the coming years.

Gap Inc (NYSE:GPS) 13% HIGHER; reported Q1 EPS of $0.01, $0.16 better than the analyst estimate of ($0.15). Revenue for the quarter came in at $3.28B versus the consensus estimate of $3.29B. The company is estimating second-quarter net sales could decrease in the mid to high-single-digit range compared to last year's net sales of $3.86B.

Ulta Beauty (NASDAQ:ULTA) 9% LOWER; reported Q1 EPS of $6.88, $0.06 better than the analyst estimate of $6.82. Revenue for the quarter came in at $2.6B versus the consensus estimate of $2.62B. Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 9.3% compared to an increase of 18.0% in the first quarter of fiscal 2022, driven by an 11.0% increase in transactions and a 1.5% decrease in average ticket. Ulta Beauty sees FY2023 revenue of $11-11.1B, versus the consensus of $11.12B.

Workday (NASDAQ:WDAY) 8% HIGHER; reported Q1 EPS of $1.31, $0.19 better than the analyst estimate of $1.12. Revenue for the quarter came in at $1.68B versus the consensus estimate of $1.67B. The company is raising the low end of fiscal 2024 subscription revenue guidance to a range of $6.550B to $6.575B, representing 18% growth over the prior fiscal year.

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After-hours movers: Marvell surges on AI-driven results, Ulta falls on revenue miss

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