Nvidia, Snowflake, & Guess earnings: After-hours movers
Nvidia's (NVDA) stock jumped after reporting another huge quarterly beat and issuing better-than-expected guidance. Snowflake (SNOW) reported second-quarter results that topped analyst expectations. Finally, Guess (GES) also reported results that topped estimates and raised its full-year outlook. Yahoo Finance Live breaks down the after-hours movers.
Video Transcript
SEANA SMITH: Three names for you on the board, Nvidia, Snowflake, and Guess. Let's kick it off with Nvidia, the massive mover after hours. We're looking at shares up just about 8% in extended trading. It was a blowout quarter from the chip maker from guidance to what they just reported here for their second quarter.
So let's break down those numbers. Nvidia is seeing third quarter sales of 16 billion plus or minus 2% blowing past the Street's expectations for second quarter revenue. That came in at 13.5 billion, up 101% from just a year ago. Profit also topping the Street's expectations. Daniel Morgan telling us earlier in the hour that Nvidia is certainly defying all odds. It's a poster child for AI.
Let's take a look at the recent moves in this stock chart because you can see it really hit a bottom over the last month just around the beginning of August. That's of course, when there were reports, some concerns about the supply picture and whether or not Nvidia is going to be able to keep up with that demand. That of course, is still a concern. But investors seem to be looking past that for now. And taking a look at that year-to-date chart, this is a stock that's up over 220% since January 1.
Of course, we've been listening to the earnings call for the latest from Nvidia executives. But again, massive numbers, a blowout quarter from Nvidia. And we're seeing some of that reflected in its rivals, the excitement there when you take a look at names like AMD, Broadcom, Marvell all moving to the upside on the heels of this report. Even tech giant Microsoft, that's up just about 2% here in after hours.
All right, let's flip over to Snowflake. Again, some movement there in extended trading. The company, the cloud company reporting results. The stock now up just about 3.5%. It has been fluctuating a bit here in extended trading. Product revenue, the company seeing $670 million to $675 million. So that guidance a bit lackluster when you take into account that the Street was looking for $674.9 million.
But for the second quarter, revenue topping expectations up 36% from a year ago. It's been a pretty tough environment for Snowflake. We know the company has struggled a little bit with companies trimming some of their demand for cloud spending. But again, a pretty solid quarter overall. The stock hasn't moved much Since the start of the year. Up just about 8.5%.
And rounding it out with Guess, another read here on the consumer. The retailer popping just about 20% in extended trading revenue beat for the quarter. The company also raised their outlook. They see sales growth of 2 and 1/2% to 4% for the full year. Year-to-date, this is a stock that's still in the red, off just about 11.5%. But still, the street very excited about the numbers that we just got here in extended trading with the gains in after hours of 20%.
