Palo Alto Beats Expectations, ECD Shares Rise 12% on Record Revenue, and Latest in Earnings
20 Agosto 2024 - 6:57AM
IH Market News
Palo Alto Networks (NASDAQ:PANW) – The
cybersecurity and firewall solutions company had a strong quarter,
with net income of $358 million, or $1.01 per share, and adjusted
earnings of $1.51, above the forecast of $1.41. Revenue rose to
$2.19 billion, exceeding the estimate of $2.16 billion. For the
next quarter, the company projects revenue between $2.10 billion
and $2.13 billion and adjusted earnings between $1.47 and $1.49.
The company increased its share buyback to $1 billion, and its
market capitalization reached $111 billion. Shares rose 2.2% in
pre-market trading.
E.C.D. Automotive Design (NASDAQ:ECDA) – The
premium vehicle customization and design company reported record
revenue of $8.9 million in the second quarter, up 129%, with gross
profit of $2.2 million and a margin of 31.8%. Despite a net loss of
$0.9 million, adjusted EBITDA rose to $0.4 million. For 2024, the
company maintained its revenue forecast of $33 million. Shares rose
11.9% in pre-market trading.
Bit Digital (NASDAQ:BTBT) – The cryptocurrency
mining and investment firm reported losses of $0.09 per share,
below the estimate of a $0.03 loss. Revenue was $29 million,
beating the forecast of $26.09 million and increasing 220.87%
year-over-year. Bitcoin mining generated $16.1 million, up 80%, but
Bitcoin production fell 23% due to halving and higher network
difficulty. The company projects $13 million in revenue with
Boosteroid and a revenue opportunity of up to $700 million with GPU
deployment. Shares rose 9.4% in pre-market trading.
Fabrinet (NYSE:FN) – The optical device
assembly services company reported earnings of $2.41 per share,
beating the estimate of $2.24 by 7.59%. Sales of $753.26 million
also exceeded expectations and represented a 14.85% year-over-year
increase. For the next quarter, the company projects revenue
between $760 million and $780 million, with earnings of $2.33 to
$2.40 per share.
Agora Inc (NASDAQ:API) – The digital financial
services platform reported revenue of $34.2 million, up 0.5%
year-over-year. The net loss fell from $45.3 million to $9.2
million. Operating expenses decreased by 14.4% to $32.6 million.
The company projects revenue between $31.5 million and $33.5
million for the next quarter after discontinuing low-margin
products.
Flexsteel (NASDAQ:FLXS) – The furniture and
upholstery manufacturer reported a fourth-quarter profit of $4.9
million, or $0.89 per share, or $0.75 adjusted. Revenue was $110.8
million. For the quarter ending September, it projects revenue
between $100 million and $105 million, and annual revenue between
$420 million and $436 million.
Fluent (NASDAQ:FLNT) – The digital marketing
and data solutions company reported a second-quarter loss of $11.6
million, or $0.75 per share, adjusted to $0.47. Revenue was $58.7
million. Despite financial challenges, the company remains focused
on its data and analytics strategy.
Hesai Group (NASDAQ:HSAI) – The autonomous
vehicle LIDAR sensor company reported net revenue of RMB 458.9
million ($63.1 million), up 4.2% year-over-year. Lidar shipments
increased by 66.1% to 86,526 units, and the gross margin improved
to 45.1%. The net loss was reduced to RMB 72.1 million ($9.9
million). For the third quarter, the company projects revenue
between RMB 450 and 500 million.
Agora (NASDAQ:API)
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