Zoom (ZM): The company cut its fourth quarter and full-year revenue guidance, sending shares lower by more than 4% in extended trading. Zoom sees fourth-quarter revenue $1.10 billion to $1.11 billion, short of Wall Street’s estimate of $1.12 billion. Zoom sees full-year revenue of $4.37 billion to $4.38 billion, lower than its prior view of $4.39 billion to $4.40 billion. For the third quarter, Zoom reported adjusted earnings of $1.07 per share on revenue of $1.10 billion.
Urban Outfitters (URBN): The retailer’s third-quarter sales beat estimates, sending shares higher in after hours trading. Sales for the three month period rose 3.9% from a year ago to a record $1.18 billion. Comparable retail segment sales rose 4%, double analyst estimates of 2% growth. CEO Richard Hayne noted demand looks strong for the current quarter, writing in the company’s earnings release “As we approach the all-important Black Friday/Cyber Monday weekend, we are encouraged by sales quarter-to-date.”
Dell (DELL): The company posted better than expected third-quarter earnings on both the top and bottom lines but fourth quarter guidance weighed on shares in extended trading. Dell sees Q4 revenue of $23 billion to $24 billion, short of the street’s estimate of $24.87 billion.
For the third quarter, adjusted earnings were $2.30 per share on revenue of $24.72 billion.