Several stocks outpaced Nvidia (NVDA) in after-hours trading Wednesday, even as Nvidia earnings beat second quarter revenue and profit estimates.
Okta, Salesforce, CrowdStrike, and Veeva Systems all posted bigger percentage gains than Nvidia after their own quarterly results topped Wall Street forecasts.
Nvidia Earnings Beat Estimates, But Others Beat the Rally
Nvidia posted adjusted earnings of $2.22 per share on revenue of $96.22 billion for its fiscal second quarter. Both figures topped the $2.10 per share and $92.17 billion analysts polled by LSEG had expected.
Guidance also came in strong. Management pointed to $108 billion in third quarter revenue, above consensus estimates. Despite the beat, the stock added only 4% after hours, a modest reaction given the scale of the numbers.
Okta and Salesforce Led the After-Hours Gainers
Okta (OKTA) jumped about 19% postmarket, the largest gain among Wednesday’s reporters. The identity management company posted adjusted earnings of $1.05 per share on $805 million in revenue. Analysts surveyed by LSEG had expected 97 cents per share and $795 million. Okta also raised its full year earnings and revenue guidance.
Salesforce (CRM) rose about 13% after adjusted earnings more than doubled to $5.90 per share on an investment gain. Revenue reached $11.35 billion against an $11.32 billion consensus, according to LSEG data. A hold on that gain would add roughly 160 points to the Dow Jones Industrial Average on Thursday.
CrowdStrike (CRWD) added about 10% after beating on both revenue and earnings per share. Its third quarter guidance matched estimates on profit and came in higher on revenue. Veeva Systems (VEEV), a life sciences software maker, climbed about 7% after topping expectations on both lines. The company also raised its outlook for the current quarter and full year.
Smaller Moves and One Decliner
Agilent Technologies (A) rose 4%, matching Nvidia’s gain. Third quarter revenue of $1.88 billion beat a $1.84 billion FactSet estimate.
Everpure (P), the data storage company formerly known as Pure Storage, gained about 2%. The company earned an adjusted 70 cents per share on $1.19 billion in revenue. Both figures beat the 58 cents and $1.1 billion FactSet had projected.
Urban Outfitters (URBN) fell about 5% despite in-line results. Its earnings excluded a one-time tariff refund benefit.
Wednesday’s mixed reactions show that earnings beats alone don’t move stocks equally. Guidance quality and forward commentary shaped the size of each swing. Investors will watch whether these gains hold once Thursday’s trading session gets underway.
Bitrue