Mixed Bag of Earnings Reports After the Bell

The financial results for the third quarter of fiscal 2024 have recently been released by Dell Inc., presenting a complex picture. While the company exceeded bottom line expectations, its revenue fell short, resulting in a 4% decline in its stock price after hours. The 3Q revenue experienced a 10% decline year over year, amounting to $22.3 billion, which slightly missed the $23.01 billion consensus analyst estimate. This was attributed to a slower-than-expected recovery in the hardware and software market.

Conversely, Ulta Beauty experienced a more positive outcome in the aftermarket, as its shares increased by almost 9% after reporting third-quarter results that surpassed Street expectations. The makeup retailer reported earnings of $5.07 per share, exceeding analyst estimates of $4.99 per share, on revenue of $2.5 billion, which also surpassed estimates of $2.47 billion.

In addition, UiPath Inc. witnessed a substantial 11.5% surge in its shares after hours, reaching its highest point in over a year and a half. The company exceeded expectations for both the top and bottom lines, recording adjusted earnings of $0.12 per share, surpassing expectations of $0.07 per share. Annual recurring revenue (ARR) also saw a 24% year-over-year increase to 1.38 billion, exceeding expectations of $1.36 billion.

However, Marvell Technology Group Ltd. did not fare as well, with its shares falling 2.6% after hours due to declining third-quarter revenue and underwhelming guidance. The semiconductor company reported adjusted earnings of $0.41 per share, a decrease from $0.57 per share a year earlier. Revenue also decreased to $1.42 billion from $1.54 billion over the same period.

Finally, Zumiez Inc. experienced a modest 2% increase in its shares after hours, following a narrower-than-expected third-quarter loss. The clothing retailer reported a loss of $0.12 per share, compared to Street expectations of $0.17 per share, on revenue of $216.3 million in the period.

In conclusion, the aftermarket earnings reports for these companies have produced mixed results. While Ulta Beauty and UiPath Inc. have achieved positive outcomes, others such as Dell Inc. and Marvell Technology Group Ltd. face challenges. The future performance of these companies remains uncertain and will unfold over time.