HP, Autodesk, Urban Outfitters: After-Hours Movers
Yahoo Finance Live Anchor Julie Hyman highlights several stock performances in the after-hours trading session, including HP Inc. (HPQ) ahead of reporting its fiscal fourth-quarter earnings, Autodesk (ADSK) after topping fiscal third-quarter 2024 earnings estimates, and Urban Outfitters (URBN) on reporting record net sales.
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Video Transcript
JULIE HYMAN: We've got to look at some trending movers after-hours starting with HP Inc. The company still suffering from a weak PC demand market on the enterprise side. The shares moving lower after reporting revenue was down by 6 and 1/2%. That's a bit of a steeper drop than had been estimated.
CEO Enrique Lores saying that he's looking ahead to a stronger 2024, and indeed, there are a lot of questions about whether the PC market has indeed bottomed. He seems to be pointing to that potentially. But if you look at the current quarter and the company's forecast, it says profit [? ex-some ?] items will be $0.76 to $0.86 a share. The midpoint of that though is below the $0.85 that analysts had been projecting. Fiscal fourth quarter revenue from consumer PCs was down by about 1%, a printing unit revenue $4.4 billion.
Let's also take a look at some of the other movers that we're watching here. Autodesk shares moving higher about by about 4%. The company raising the lower end of its adjusted earnings forecast. It also raised its revenue outlook for the full year. This after third quarter numbers beat analysts estimates subscription revenue up 11% for the company even as maintenance net revenue although that's a very small number did fall here, but overall the company beating estimates and the fourth quarter forecast coming out strong here.
And then finally, Urban Outfitters, this is an interesting one here. Those shares up by nearly 2% here-- earnings beating estimates, sales also beating estimates here and looking at the different divisions. Urban Outfitters [? is ?] a little shy of estimates, Anthropologie beating Free People missing sales estimates by a little bit.
One interesting-- more minor part of the business, smaller part of the business that got a flag was the clothing rental service that Urban Outfitters runs, which is called Nuuly had its first profit since it was launched back in 2019. That is a milestone that rival clothing rental service Rent The Runway has not yet met, although, it's different tiers. So interesting story there for Urban Outfitters.
