Shares of Intuit Inc. INTU were trading up almost 8 percent in Thursday’s after-hours session, following the announcement of the company’s first quarter (fiscal 2016) results. The business and financial management solutions provider reported earnings of $0.09 per share on revenue of $713 million, beating guidance and consensus estimates.
Management was anticipating a net loss between ($0.03) and ($0.04) per share, on revenue of $660 to $680 million. The Street was modeling a consensus net loss of ($0.03) per share on revenue of $669.59 million. Also driving the surge was strong guidance provided in the call.
Gap Inc GPS lost about 2 percent after the bell rang. The apparel retailer reported earnings of $0.63 per share, in line with the Street’s consensus and guidance. However, sales of $3.857 billion fell short of experts’ expectations for sales of $3.875 billion. In addition, management trimmed its full-year earnings guidance from $2.75-$2.80 per share to $2.38-$2.42 per share.
Splunk Inc SPLK rose more than 2.7 percent after hours on its earnings call. Earnings came in at $0.05 per share and revenue at $174.42 million, beating the Street's expectations for earnings of $0.02 per share on revenue of $160.27 million, and above guidance for revenue in the $158 million to $160 million range.
The company also announced that CEO Godfrey Sullivan was stepping down, being replaced by Doug Merritt, the company’s former senior vice president of field operations.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
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