Shares moved sharply in after-hours trading as several enterprise software, data and cybersecurity companies reported quarterly results and issued guidance. Dell Technologies jumped nearly 9% after surpassing expectations and raising its outlook for fiscal 2027 on continued strength in its artificial intelligence services business, while GitLab surged almost 20% on an earnings beat and a more optimistic full-year forecast. MongoDB, by contrast, fell more than 12% even after posting better-than-expected results, illustrating how investors weighed guidance and growth signals more heavily than headline profitability.
Other names offered a mixed picture. Credo Technology slipped nearly 4% despite beating expectations, as investors focused on gross-margin performance in its first quarter. Palo Alto Networks traded around flat after delivering a stronger-than-expected fourth fiscal quarter, suggesting the market treated the results as largely in line with what investors had already priced in.
Key takeaways
- Dell Technologies shares rose almost 9% after it beat expectations and lifted fiscal 2027 guidance, underscoring investor confidence in its AI services momentum.
- GitLab surged nearly 20% on an earnings beat and upbeat full-year guidance, pointing to continued demand for its software offerings.
- MongoDB shares fell about 12% despite a profit and revenue beat, indicating investors were disappointed by what they saw in its overall outlook.
- Credo Technology declined nearly 4% after a slight miss on non-GAAP gross margin, even as results on revenue and earnings came in ahead of estimates.
- Palo Alto Networks was roughly unchanged after a better-than-expected fourth fiscal quarter, suggesting the market reaction was muted.
What drove the after-hours moves
Dell Technologies: The computer maker advanced after it reported results that exceeded expectations on both earnings and revenue lines. According to the company’s filings, Dell also increased its forecast for fiscal 2027, citing strength in the artificial intelligence services business. The forecast lift was the key driver of the after-hours jump, as investors shifted from quarterly performance to forward demand for AI-related offerings.
MongoDB: MongoDB shares dropped even with a better-than-expected quarter. The company said it earned $1.90 per share excluding items on $772 million in second-quarter revenue. Analysts surveyed by LSEG had expected $1.61 per share and $734 million. While the beat supported the headline report, the stock still declined, signaling investors likely interpreted subsequent guidance or other forward indicators more cautiously than the results themselves.
Credo Technology: Credo fell after investors focused on margin quality. The company posted a non-GAAP gross margin of 68% for the first quarter, while analysts polled by LSEG had projected 68.3%. Even so, Credo beat expectations on both earnings and revenue in the same quarter. The relatively small margin shortfall appears to have been enough to outweigh the company’s top-line and bottom-line performance in the eyes of traders.
GitLab: GitLab was the standout gainer after it delivered an earnings beat and offered upbeat full-year guidance. According to LSEG, GitLab earned 24 cents per share excluding items on $286 million in second-quarter revenue, compared with estimates for 18 cents and $273 million. The sharp rally suggests investors responded not only to the quarter’s numbers, but also to how management framed growth for the year ahead.
Palo Alto Networks: Palo Alto Networks traded near flat after a better-than-expected fourth fiscal quarter. The company reported $1.02 per share excluding items on $3.41 billion in revenue, versus expectations of 98 cents and $3.35 billion, according to LSEG. The muted reaction implies the upside, while real, did not materially change the market’s expectations for the business trajectory.
Market reaction and investor interpretation
Across the group, the after-hours moves highlighted how investors are separating “beat-and-raise” outcomes from beats that fail to alter the forward picture. Dell’s stock gained as the company raised fiscal 2027 expectations and tied the improvement to AI services strength, aligning with current investor focus on AI monetization.
MongoDB’s decline, despite an earnings and revenue beat, points to the market’s sensitivity to forward signals and product demand trajectory. In similar fashion, Credo’s slide despite beating estimates underscores that investors are watching margin precision—particularly gross-margin figures—as a proxy for pricing power and cost control.
GitLab’s rally suggests that investors rewarded both execution and guidance. For Palo Alto Networks, the lack of a larger move indicates that improvements in the reported quarter were not enough to change expectations at the margin.
Bigger picture: what to watch next
With these results still settling in after-hours trading, investors are likely to focus next on whether companies can sustain momentum in guidance, especially in AI-adjacent services, software subscriptions and enterprise security. Future catalysts will include additional earnings reports and updates on demand trends, as well as macro data and central-bank signals that can influence valuation multiples for growth-oriented software and technology stocks.
Traders and long-term investors will be watching for any follow-through in regular session trading: whether the biggest movers—Dell and GitLab—continue to gain as markets digest the guidance changes, and whether decliners like MongoDB and Credo stabilize as investors recalibrate their outlooks. Upcoming quarterly filings and management commentary should provide further clarity on the drivers behind margin performance, sales velocity, and the durability of guidance.
