In the after-hours trading session, Micron surged 13% on strong revenue and guidance. Five Below stumbled 13% due to weak earnings, while Chewy rose 1% on surpassing predictions.
Micron Technology
Micron Technology saw its shares surge by 13% following a remarkable performance in revenue, surpassing expectations and delivering robust guidance. In the second fiscal quarter, Micron reported revenue of $5.82 billion, projecting an even stronger $6.6 billion for the current period.
Both figures exceeded analysts’ forecasts, which had pegged revenue at $5.35 billion and $6.02 billion respectively, according to LSEG. Despite analysts’ anticipation of a loss of 25 cents per share, Micron recorded adjusted earnings per share of 42 cents.
Five Below
Five Below, the value retailer, experienced a sharp decline of 13% due to disappointing fourth-quarter earnings and a lackluster outlook.
Despite earning $3.65 per share on $1.34 billion in revenue, falling short of analysts’ estimates of $3.78 per share and $1.35 billion in revenue, the company’s guidance for the current quarter and full year failed to inspire confidence.
Chewy
On the brighter side, Chewy, the pet-focused retailer, saw a 1% increase as its fourth-quarter earnings exceeded consensus predictions.
Posting 7 cents in earnings per share and $2.83 billion in revenue, Chewy outperformed expectations of a loss of 5 cents per share and revenue at $2.77 billion. However, the company’s guidance for current-quarter revenue fell below expectations.
KB Home
KB Home witnessed fluctuating shares in after-hours trading as investors dissected the homebuilder’s earnings release, ultimately edging up by nearly 1%. KB Home reported $1.76 per share on revenue of $1.47 billion, outperforming analysts’ projections of $1.57 per share and $1.46 billion in revenue, as per LSEG’s polling data.
