Cisco (CSCO): Shares rose in extended trading after the company reported solid quarterly sales and raised its full-year guidance. Cisco now sees revenue growth of 4.5% to 6.5%, up from its prior forecast of 4% to 6%. “Our fiscal 2023 is off to a good start as we delivered the largest quarterly revenue and second highest quarterly non-GAAP earnings per share in our history,” CEO Chuck Robbins wrote in the report.
Competitors Juniper Networks (JNPR) and Arista Networks (ANET) initially rose on the results.
Nvidia (NVDA): The chipmaker’s third-quarter revenue topped Wall Street estimates, driven by a 31% year-over-year jump in Data Center sales. Revenue in that segment was $3.83 billion while gaming revenue was $1.57 billion, down 51% from a year ago.
Sonos (SONO): Sonos reported a narrower-than-expected loss and revenue of $316.3 million, topping analyst estimates. The company also authorized a new stock repurchase program of up to $100 million. In the earnings release, Sonos CEO Patrick Spence noted trends stabilized in the fourth quarter and ‘a good early response’ to its latest product.
Bath & Body Works (BBWI): Shares soared after the company raised its full-year profit outlook. BBWI sees full-year earnings from continuing operations per diluted share between $3.00 and $3.20, compared to its prior guidance forecast of $2.70 to $3.00. Net sales for the quarter was $1.60 billion, a decline of 5% from a year.
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