Updated
Updated · CNBC · Aug 27Elastic Shares Jump 15% After Full-Year EPS Outlook Tops $3.24 Estimate
2 articles · Updated · CNBC · Aug 27Summary
- Elastic surged 15% in extended trading after forecasting full-year adjusted earnings of $3.29 to $3.37 a share, above the $3.24 analysts expected.
- Revenue guidance also edged past forecasts at $1.998 billion to $2.010 billion versus a $1.99 billion consensus, reinforcing the upbeat outlook.
- First-quarter adjusted earnings, revenue and operating income all beat estimates, giving investors fresh evidence behind the stronger full-year view.
- The move stood out in a mixed after-hours session, with Workday down 5.7%, Autodesk off 6% and SentinelOne falling nearly 7% on weaker outlooks.
Insights
Why are tech companies suffering massive after-hours stock drops even after completely crushing their quarterly earnings estimates? Can a new entertainment-driven CEO save Old Navy from a growing quality control crisis before customers abandon the brand?