Talk about ending a year with a bang: Open-source software leader Red Hat (NYSE: RHT) absolutely nailed its fourth quarter and fiscal 2016, which it reported Monday after the close, and its stock jumped more than 6% Tuesday morning in response to the good news.
The good news keeps coming for Micron Technology (NASDAQ: MU) shareholders. After the company announced impressive fiscal second-quarter results that beat analysts’ expectations, and raised its guidance for the balance of 2017, Micron’s stock popped by more than 12% in early Friday trading.
In many ways, Oracle’s (NYSE: ORCL) recent fiscal 2017 third-quarter earnings report, released Wednesday after the close, went as expected. Total revenue climbed a modest 2% to $9.2 billion, slightly below the consensus estimate of $9.25 billion. However, thanks to yet another quarter of strong, high-margin cloud-related revenue, its $0.69 per share earnings (excluding one-time costs) handily beat the $0.62 per share the analysts had forecast.
With its transition to a cloud-based, subscription-sales business model in full swing, Autodesk (NASDAQ: ADSK) ended fiscal 2017 in style. New model subscriptions, a key metric, grew 26% in the fourth quarter to 1.09 million, up 227,000 from a year ago.
Despite delivering relatively strong year-over-year revenue growth and hitting its target of generating positive free cash flow (FCF) for the first time, cloud storage provider Box (NYSE: BOX) failed to impress investors with its fourth-quarter earnings report, released after the closing bell Wednesday.
The Best Buy (NYSE: BBY) comeback continued through the end of its fiscal 2017, with the consumer electronics chain posting higher earnings, albeit on lower overall sales. That doesn’t mean there were no bumps in the road, however; the company also saw comparable-store sales drop in Q4.
What had been a fairly decent start to 2017 for Palo Alto Networks (NYSE: PANW) has come to a screeching halt. After reporting disappointing fiscal 2017 second quarter revenue of $422.6 million, below both its own forecast and consensus estimates Tuesday, Palo Alto shares opened Wednesday trading down over 20%.
Relative to analysts’ consensus estimates, salesforce.com (NYSE: CRM) ended its 2017 fiscal year in only a so-so fashion, given the numbers in its earnings release Tuesday. That, coupled with a lower-than-expected profit forecast for its current quarter, could have caused concern about the customer relationship management (CRM) specialist among investors.
Target’s (NYSE: TGT) comparable-store sales and earnings fell during a challenging fourth quarter for the company. The discount retailer saw its earnings per share drop to $1.46 in Q4 and $4.58 for all of 2016, compared with $2.31 and $5.25 in 2015.
Chinese search leader Baidu (NASDAQ: BIDU) reported its fourth-quarter earnings on Thursday, and the mixed results caused the stock to dip before slightly rising during after-hours trading. During the quarter, the internet giant’s revenue fell 4% year-over-year to 18.2 billion yuan ($2.62 billion), narrowly missing estimates by $50 million.