Top trend Yahoo Finance after-hours tickers:
I confirm (AFRM): Shares fell more than 14% after guidance for first-quarter and full-year 2023 revenue missed estimates. Affirm sees first-quarter revenue of $345 million to $365 million and full-year revenue of $1.63 billion to $1.73 billion. Affirm CFO Michael Linford wrote in the earnings release, “In light of the uncertain macroeconomic backdrop, we are cautiously approaching our next fiscal year while maintaining our focus on driving responsible growth.” Affirm shares have fallen 69% since the start. of the year.
Ulta (ULTA): Shares jumped after the beauty retailer posted earnings that beat street estimates and issued strong guidance for the full year. Ulta reported comparable sales of 14.4% for the quarter and sees comparable sales growth of 9.5% to 10.5%, up from its previous forecast of 6% to 8%. The executives on the earnings call noted that Ulta shoppers weren’t trading down on price and saw sales rebound after a modest slowdown in late June, early July.
void (GPS): Gap reported second-quarter adjusted earnings per share that beat estimates and saw sales trends improve in July and early August. But comparable sales missed estimates for the second quarter, with total sales falling -10%, including a -15% drop in Old Navy brand sales. Morningstar Equity analyst David Swartz told Yahoo Finance that “Gap’s biggest problem right now is Old Navy” and that if “Gap can’t fix Old Navy, then the whole business is in trouble.”
working day (WAY): Shares jumped after the company beat both the top and the bottom, posting adjusted earnings of $0.83 per share on $1.54 billion in revenue. Workday raised its adjusted operating margin forecast for the third quarter, while maintaining its full-year subscription revenue guidance. Workday CEO Barbara Larson noted, “Our updated outlook reflects the momentum in our business and the mission-critical nature of our solutions, while balancing the current macro environment.”
Dell (DELL): Shares fell after hours after Dell missed its adjusted Ebitda target for the second quarter and consumer revenue fell 9% from a year earlier to a total of $3.3 billion. Dell Technologies vice chairman Jeff Clark wrote in the earnings release: “We continued to perform well in an increasingly challenging environment with record second-quarter revenue of $26.4 billion, up 9%… We also advanced in our long-term strategy – growing the core while innovating for our customers and enabling their capabilities in the data age.” Shares are down -14.7% year-to-date.