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Nvidia reported second-quarter revenue of $13.5 billion, well ahead of estimates of $11.2 billion.
Courtesy of Nvidia
Stock futures traded mostly higher Thursday with futures for the
Nasdaq Composite
surging more than 1% following better-than-expected second-quarter earnings from
Nvidia
.
These stocks were poised to make moves Thursday:
Nvidia
(ticker: NVDA) rose 7.9% in premarket trading after the graphics chip maker reported second-quarter revenue of $13.5 billion, smashing estimates of $11.2 billion. Data-center revenue soared 141% to $10.32 billion. Adjusted earnings of $2.70 a share also easily beat expectations of $2.08.
Nvidia
said it expects third-quarter revenue of $16 billion at the midpoint of its range, well above analysts’ consensus of $12.6 billion. CEO Jensen Huang credited a dramatic shift toward adoption of artificial intelligence for the robust results.
Snowflake
(SNOW) earned earned 25 cents a share on an adjusted basis in the second quarter, higher than forecasts of 10 cents, while revenue of $674 million rose 36% and also topped estimates. Product revenue in the period was $640.2 million. For the fiscal third quarter,
Snowflake
said it expects product revenue of $670 million to $675 million versus forecasts of $675 million. The company maintained its product revenue forecast for the fiscal year of $2.6 billion. Snowflake shares rose 4%.
Splunk (SPLK) reported second-quarter adjusted earnings of 71 cents a share, easily surpassing analysts’ estimates. Revenue in the period rose 14% to $910.6 million, while cloud revenue jumped 29% to $445 million.
Splunk
said it expects third-quarter evenue of between $1.02 billion and $1.035 billion, topping analysts’ estimates of $982 million. Shares of the software company rose 14%.
Petco Health
(WOOF) slid 14% after the pet goods retailer slashed its earnings guidance for the fiscal year.
Autodesk
(ADSK) posted second-quarter adjusted profit and revenue that topped Wall Street forecasts. The software company’s stock rose 6.4%. Coming into the session,
Autodesk
has risen 9% this year.
AMC Entertainment
(AMC) was falling 11% in premarket trading. The movie-theater chain’s 10-for-1 reverse stock split is effective Thursday.
Dollar Tree
(DLTR) dropped 4.4% after the discount retailer tightened its earnings outlook for the fiscal year.
Boeing
(BA) was down 1.8% in premarket trading. Supplier
Spirit AeroSystems
(SPR) said it was aware of a quality issue on some models of the 737 fuselage that it makes but would continue to deliver units to
Boeing
.
Aerospace giant Boeing said the issue “will impact near-term 737 deliveries as we conduct inspections to determine the number of airplanes affected, and complete required rework on those airplanes.” Boeing said it would continue to deliver 737s that aren’t affected.
Spirit AeroSystems
shares fell 6.4%.
Guess
(GES) jumped 18% after second-quarter adjusted earnings at the retailer beat analysts’ expectations and revenue rose 3% to $664.5 million, also higher than forecasts. The company said it expects third-quarter revenue to increase between 2.5% and 4.5%.
Write to Joe Woelfel at [email protected]
