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Lululemon (LULU), Elastic (ESTC), and Samsara (IOT) Beat Expectations: Market Reactions

  • June 01st, 2023
  • 268 views

Lululemon Athletica Inc. (Nasdaq: LULU) reported a strong financial performance for the first quarter of fiscal 2023. The company's earnings per share (EPS) for the quarter stood at $2.28, exceeding the consensus estimate of $1.98. 

Lululemon expects continued growth in the second quarter, with a projected diluted EPS range of $2.47 to $2.52, slightly below the consensus estimate of $2.50. However, for the full fiscal year 2023, the company anticipates diluted EPS in the range of $11.74 to $11.94, exceeding the consensus estimate of $11.61. 

Following these positive earnings results, $LULU saw a significant increase in after-hours, currently trading at $371.96, up $43.61 (+13.28%).

Elastic N.V. (NYSE: ESTC) reported fourth-quarter fiscal 2023 EPS of $0.22, beating the consensus estimate of $0.10. 

However, the company's financial outlook for the first quarter of fiscal 2024 fell slightly short of expectations, with a projected non-GAAP EPS range of $0.10 to $0.12, compared to the consensus estimate of $0.13 for the period. 

As a result, $ESTC experienced a decline of $4.66 (-6.50%) in after-hours, currently trading at $67.00.

Samsara Inc. (NYSE: IOT) reported a better-than-expected adjusted loss of $0.02 per share for the first quarter of fiscal 2024, compared to the consensus estimate of a loss of $0.05 per share. 

The company also provided guidance for the full fiscal year 2024, with a projected non-GAAP net loss in the range of $0.02 to $0.00 per share, surpassing the consensus estimate of a loss of $0.07 per share. 

In response to the positive earnings report, $IOT experienced a significant surge in after-hours, currently trading at $22.20, up $3.19 (+16.78%).

 

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR DIGITAL ASSET. Please consult with a professional investment advisor before purchasing or selling any securities viewed on or mentioned herein. (Read Full Disclaimer)

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