Yahoo Finance's Seana Smith breaks down tickers seeing big moves in after hours trading.
SEANA SMITH: All right, Dave, three movers here. Oracle, Rent the Runway, and Planet Labs. Let's start with Oracle, not a heck a lot of movement right now, off just about 1/10 of a percent. We just got results here from the company. And it was a bit mixed, coming in a bit light on profit. Profit falling short $1.03 was the EPS for its most recent quarter. Revenue in line with expectations, 11.45 billion.
Cloud revenue though, was a bright spot here for the company. Cloud revenue totaling 3.6 billion. That's up 45%. We just heard from an analyst a little bit earlier the fact that he is very bullish on the name because of that growth in cloud, saying that is key for future success.
The strong US dollar a significant headwind for the company, something that we have heard from a number of Oracle's competitors and the other larger names in the tech space over the most recent quarterly results. Over the past six months, the stock has been essentially flat. But year to date, still in the red, off just about 11.6%, so weathering the downturn better than some of its competitors out there.
Let's take a look at Rent the Runway because shares sinking, off 22% right now. You can see it on your screen there, sinking here. Full-year guidance falling way short. They now see revenue of 285 million to 290 million. The estimate out there was for 304 million. Huge restructuring initiative as well, cutting 24% of its corporate employees as part of its restructuring business. Active subscribers totaling 124,000, a huge miss there.
This company went public last October. And you can see the stock has really sank since there. It is off just about 74% in the last 11 months.
Rounding it out with Planet Labs. Now, this stock moving to the upside here, up just over 8% in extended hours. The results here very encouraging from the company. This is a satellite imaging firm, if you're not familiar with the name.
Record second quarter revenue, up 59% year over year. They also upped their full-year revenue guidance for fiscal year '23. Their margin outlook was also impressive. That 8% pop after hours. Over the past year though, stock still down 40.5%, not too far from that 52-week low.