Cardinal Health Inc. (CAH) delivered strong first-quarter results, exceeding earnings and revenue expectations. The company’s Pharmaceutical and Specialty Solutions segment drove growth, leading to an upward revision of the fiscal year 2025 outlook. This strong performance is fueled by a combination of brand and specialty pharmaceutical sales growth, an early launch of COVID-19 vaccine distribution, and positive generics program performance.
Amazon shares surged in pre-market trading following the release of strong third-quarter earnings results. Revenue surpassed expectations, reaching $158.9 billion, and the company’s North America and international sales also showed significant growth. Amazon’s guidance for the fourth quarter anticipates continued revenue growth and strong operating income.
Atlassian (TEAM) delivered strong first-quarter financial results, exceeding revenue and earnings estimates. The company reported a 21% year-over-year revenue increase, fueled by a robust 33% growth in subscription revenue. Atlassian’s focus on AI innovation and its cloud platform are driving impressive results, with the recent launch of Rovo, an AI-powered product, contributing significantly. The company also announced a new Chief Revenue Officer and shared optimistic projections for future growth.
InterDigital, Inc. (IDCC) exceeded analysts’ expectations in the third quarter, reporting strong revenue growth driven by its consumer electronics and IoT licensing program. The company also raised its full-year 2024 revenue guidance by $145 million, citing increasing momentum across the business. This news sent IDCC shares up over 1.5% in pre-market trading.
STMicroelectronics (STM) reported a 26.6% year-over-year decline in net revenue for the third quarter, citing a softening market demand. Despite this, the company beat analyst expectations and announced a restructuring plan aimed at improving efficiency and boosting future growth. The company also provided a cautious outlook for the coming quarters.
SolarWinds Corp (SWI) delivered a robust fiscal third-quarter 2024, exceeding both revenue and earnings forecasts. The company showcased strong growth in its subscription revenue and maintained a positive outlook for the remainder of the year. This strong performance has fueled a surge in the stock price, reflecting investor confidence in the company’s trajectory.
Aptiv PLC (APTV) exceeded earnings expectations for the third quarter, reporting adjusted EPS of $1.83, but revenue fell short of forecasts. Despite strong operational performance, the company lowered its full-year guidance, citing weaker automotive production. Shares tumbled over 16% in after-hours trading.
eBay Inc. (EBAY) shares tumbled in pre-market trading on Thursday after the e-commerce giant reported third-quarter earnings that fell short of analysts’ expectations. While revenue and earnings per share beat estimates, the company’s guidance for the fourth quarter and fiscal year 2024 was weaker than anticipated, leading to investor disappointment. The stock dropped by nearly 10% in early trading.
Mobileye Global Inc (NASDAQ: MBLY) reported a slight revenue decline in its fiscal third quarter of 2024, but still managed to beat analysts’ estimates for both revenue and earnings per share. The company’s adjusted operating margin took a hit due to lower gross margins, and a significant goodwill impairment charge was recorded. Despite these challenges, Mobileye’s CEO remains optimistic about the future, citing strategic objectives focused on expanding their Advanced Driver-Assistance Systems (ADAS) market share.
Chinese EV giant BYD has surpassed Tesla in quarterly revenue for the first time since 2022, reporting $11.6 billion in net profit for the third quarter. While BYD’s revenue outshines Tesla, its net profit remains lower, highlighting the difference in their respective business models. This development underscores the fierce competition in the global EV market as both companies strive for dominance.
