TSMC Says It Plans To Repurchase 3.2M Shares Between June 6 And Aug 5; Says Board Approves Capital Boost For Unit TSMC Global For Up To $5B
CrowdStrike Holdings (CRWD) posted strong fiscal Q1 results and raised its fiscal year 2025 outlook despite “an increasingly mixed” software selling backdrop, RBC Capital Markets said Wednesday. The cybersecurity company reported late Tuesday that its fiscal Q1 adjusted earnings advanced to $0.93 a share from $0.57 a year earlier, while revenue jumped 33% to $921 million, both topping market estimates. The company now projects fiscal 2025 adjusted EPS at $3.93 to $4.03, up from its previous range of $3.77 to $3.97. It pegs revenue at $3.98 billion to $4.01 billion, compared with $3.92 billion to $3.99 billion previously estimated. “The company continues to see success in its broader platform with emerging products, and despite a choppier macro in the broader software landscape, continues to execute and consolidate cyber wallet share,” RBC said, adding that CrowdStrike exited the quarter with a record Q2 pipeline. The brokerage maintained its outperform rating and
CrowdStrike Delivers Strong Fiscal Q1 Results Despite Challenges, RBC Says Read Post »
CrowdStrike results defied a tough environment for enterprise software companies with the help of strong momentum, according to UBS analyst Roger Boyd. He says in a research note that the 1Q results, particularly net new annual recurring revenue growth that beat expectations, point to strong momentum in the company’s Falcon platform. CrowdStrike’s remaining performance obligations–defined as billed, deferred revenue and contracted, unbilled backlog–accelerated for the second straight quarter, suggesting an increase to contract duration, Boyd says. He says he’s keeping a close eye on net new annual recurring revenue and the company’s operating margins in 2Q. Shares rise 11% to $340.17.
CrowdStrike’s Momentum Buoys 1Q Results Read Post »
Adobe (ADBE) is expected to post solid fiscal Q2 results on June 13, but focus will also be on the company’s fiscal H2 guidance, RBC Capital Markets said in a note sent Wednesday. The software company has issued a lower-than-expected guidance for Q2 revenue of $5.25 billion to $5.30 billion, likely creating a “more attractive setup,” the investment bank said. “Outside of headline results, we expect the focus will be on guidance and particularly the drivers to H2 estimates including the monetary GenAI benefits from document cloud as well as increased color on the timing of potential consumption revenue,” it said. Generative artificial intelligence is seen as both a near- and long-term benefit to the company’s creative and experience businesses, and a potential catalyst to 2024 revenue growth, it said. The pricing headwinds should reach peak in Q3, the firm said, and become tailwind in the last fiscal quarter, “while
Adobe Likely to Report Solid Fiscal Q2; Eyes on H2 Guidance, RBC Says Read Post »
By Heard Editors Another $3 trillion Big Tech company just got minted. On Wednesday it became Nvidia’s turn to join that rarefied club, which includes Apple and Microsoft, as its stock gained 5.2%. The chipmaker, which is set to execute a stock split after markets close on Friday, is up 147% so far this year. Big Tech companies keep blowing past enormous market capitalizations to power the stock market’s gains. The Nasdaq Composite hit another record Wednesday, advancing 1.96%, thanks to the tech giants. Besides Nvidia, shares of Meta Platforms, Microsoft, Alphabet, Apple and Amazon.com also advanced. The S&P 500 also rallied to a new high, adding 1.2%, while the Dow industrials edged up 0.3%, gaining 96 points. Easing borrowing conditions may have something to do with the recent stock market gains. The yield on the 10-year Treasury note fell for a fifth straight day to 4.289%. Treasury yields have
Nvidia Joins the $3 Trillion Club — WSJ Read Post »
MongoDB, Inc. (NASDAQ:MDB) 44th Annual William Blair Growth Stock Conference June 5, 2024 5:40 PM ET Company Participants Michael Gordon – CFO & COO Serge Tanjga – SVP Finance Conference Call Participants Jason Ader – William Blair Jason Ader With that said, I’m Jason Ader with William Blair. Very pleased to have Michael Gordon, COO and CFO of MongoDB; and Serge Tanjga, SVP of Finance. Regulars at this conference now. I appreciate it. Michael Gordon Yes. Great to be here. Thanks for having us. Jason Ader Before we begin, I’m required to inform you that a complete list of research disclosures, potential conflicts of interest is available on our website at williamblair.com. And we’re just going to do a fireside chat format here. And hopefully, we’ll have some time at the end for Q&A. But like I said, at 5:10, we’ll cut the webcast, and then, we’ll have a little
MongoDB, Inc. (MDB) 44th Annual William Blair Growth Stock Conference (Transcript) Read Post »
By Aaron Tilley For those who saw them, the demonstrations inside Apple earlier this decade of a revamped Siri offered a showcase of the amazing capabilities a powerful AI voice assistant could have. The famed assistant, one of the last projects Apple co-founder Steve Jobs worked on before his death, had been given a total overhaul. Capable of running on an iPhone and without an internet connection, the new Siri impressed people with its improved speed, conversational capabilities and the accuracy with which it understood user commands. Code-named Project Blackbird, the effort also imagined a Siri with capabilities built by third-party app developers, according to people familiar with the work. Yet a competing project won out in an internal contest ahead of the 10-year anniversary of Siri’s launch. Known as Siri X, the more-modest upgrade involved moving more existing Siri software onto iPhones from remote servers to improve the voice
How Apple Fell Behind in the AI Arms Race — WSJ Read Post »
CrowdStrike (CRWD) shares were up 7% in premarket activity on Wednesday after the company reported a stronger-than-expected jump in fiscal Q1 earnings as sales surged more than forecast and raised its fiscal 2025 guidance. The company reported fiscal Q1 non-GAAP earnings late Tuesday of $0.93 per diluted share, up from $0.57 a year ago. Analysts polled by Capital IQ expected $0.89. Revenue for the quarter ended April 30 was $921.0 million, up from $692.6 million a year earlier. Analysts surveyed by Capital IQ expected $904.8 million. The company said it expects Q2 non-GAAP EPS of $0.98 to $0.99 and revenue of $958.3 million to $961.2 million. Analysts polled by Capital IQ expect 0.91 and $956.3 million, respectively. The company said it now expects fiscal 2025 non-GAAP EPS to be between $3.93 and $4.03 and revenue to be between $3.98 billion and $4.01 billion. Its previous guidance was for non-GAAP EPS
Snowflake’s (SNOW) Sridhar Ramaswamy is on the lookout for deals in artificial intelligence to gain an edge over competitors, Bloomberg reported Tuesday, citing an interview with the new chief executive. Ramaswamy, who took the reins of the company in February, told the publication that the company would look for acquisitions “opportunistically.” The company had previously tried to acquire Reka AI for over $1 billion but discussions collapsed last month.
Snowflake CEO On the Hunt for AI Deals After Reka AI Deal Collapse Read Post »
By Ben Glickman CrowdStrike raised its full-year guidance after the company’s revenue rose sharply and topped expectations in the first quarter. The Austin, Texas-based cybersecurity software company reported a profit of $42.8 million, or 17 cents a share, in the quarter ended April 30, compared with a profit of $491,000, or less than 1 cent a share, a year earlier. Analysts polled by FactSet expected a per-share profit of 17 cents. Stripping out certain one-time items, the company posted an adjusted profit of 93 cents, greater than the 89 cents expected by analysts surveyed by FactSet. Revenue rose 33% to $921 million, beating the $904.6 million expected by analysts polled by FactSet. Ending annual recurring revenue was up 33% from a year earlier at $3.65 billion. CrowdStrike now expects revenue of $3.98 billion to $4.01 billion in fiscal 2025, compared with its previous outlook for $3.92 billion to $3.99 billion.
CrowdStrike Lifts FY Guidance After 1Q Revenue Surges Read Post »
Wedbush analyst Dan Ives believes next week’s Worldwide Developers Conference (WWDC) will be a “pivotal moment” for Apple, Inc. (NASDAQ:AAPL) as he sees it ushering in the company’s next growth cycle, driven by artificial intelligence (AI). Apple To Introduce AI: Apple’s WWDC 2024 is set to kick off on June 10. Ives expects a formal announcement from Apple regarding a partnership with OpenAI, including a chatbot with exclusive features building upon on-device Apple large language models (LLMs) and cloud-powered Apple LLMs. In a new note released Tuesday, Ives predicted that Apple would lay the groundwork for an AI App Store on its new AI software stack, which will lead to additional growth in the company’s Services segment in the coming years. Ives highlighted Apple’s “rock solid” Services segment and its double-digit growth as key drivers of the company’s valuation. The Wedbush analyst also expects the iPhone 16 to include new
MongoDB, Inc. (NASDAQ:MDB) Baird 2024 Global Consumer, Technology & Services Conference June 4, 2024 1:25 PM ET Company Participants Michael Gordon – Chief Financial Officer, Chief Operating OfficerSerge Tanjga – Senior Vice President, Finance Conference Call Participants Will Power – Baird Will Power All right. We’re going to go ahead and get started. Thanks, everybody, for attending. Good afternoon. My name is Will Power. I cover cloud software for Baird. It’s my great pleasure to have MongoDB here. MongoDB, as many of you all know, is really a leader in next-generation databases. From the Company, we have Michael Gordon, who is the Chief Financial Officer, COO; and Serge Tanjga, who is the Senior Vice President of Finance. So, thanks so much for being here. Michael Gordon Thanks for having us. Serge Tanjga Thank you for having us. Will Power Yes Michael, maybe just for the sake of the audience, just