Earnings Hits and Misses: Ambarella, HP Enterprise, Zoom Video

With about a month left in the current earnings season, the number of reports issued every day has dropped from a few hundred to a few dozen. After markets close Wednesday and before they open Thursday, we are expecting quarterly results from Ciena, Express, NetApp and Splunk. Here’s our preview of those reports.

Here is a quick look at a few earnings reports that were released after Tuesday’s closing bell.


Semiconductor maker Ambarella Inc. (NASDAQ: AMBA) beat S&P Capital IQ consensus estimates on both earnings per share (EPS) and revenue. The company reported first-quarter fiscal 2022 EPS of $0.23, more than 35% higher than expected, and revenue of $70.1 million, about 2% better than expected. The company raised second-quarter revenue guidance to a range of $74 million to $77 million, well above the consensus of $69.46 million.

In Wednesday’s premarket session, Ambarella’s shares traded up about 3.9% to $105.07, in a 52-week range of $43.69 to $137.21. The average daily trading volume is more than 500,000 shares.

Hewlett Packard Enterprise

Hewlett Packard Enterprise Co. (NYSE: HPE) reported results that beat both top-line and bottom-line estimates. For the company’s second fiscal quarter, it reported EPS of $0.46, almost 10% better than expected, and revenue of $6.7 billion, about 1.3% better than the consensus estimate. Third-quarter EPS guidance of $0.38 to $0.44 is in line with the consensus estimate of $0.43. The company also raised full-year guidance from a prior range of $1.70 to $1.88 to a new range of $1.82 to $1.94. The consensus estimate is $1.84.

Shares traded down less than 1% in Wednesday’s premarket, at $15.95 in a 52-week range of $8.28 to $16.74. The average daily trading volume is about 11.3 million shares.

Zoom Video Communications

Online meeting platform Zoom Video Communications Inc. (NASDAQ: ZM) reported fiscal first-quarter EPS of $1.32, about 26% better than the consensus estimate, on revenue of $956.24 million, about 5.3% better than expected. It raised second-quarter EPS guidance from a prior range of $0.95 to $0.97 to a new range of $1.14 to $1.15. Revenue guidance for the current quarter rose from a previous estimate of $835.35 million to $933.46 million. Full-year estimates were also raised to $3.8 billion in revenue (up by $300 million) and $4.56 to $4.61 in EPS, compared with a prior range of $3.59 to $3.65.

The stock traded up about 1.8% to $333.58. The 52-week range is $196.10 to $588.84. The average daily trading volume is about 3.9 million shares.

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