Extended trading on Wall Street featured sharp moves across several companies after quarterly results and guidance updates, with investors reacting quickly to both earnings beats and forward-looking disappointments. Snowflake surged following an results-led outlook upgrade, while Broadcom and NetApp pulled back as forecast details failed to meet expectations.
Key takeaways
- Snowflake shares jumped after its second-quarter results topped analyst expectations and the company raised full-year product revenue guidance.
- Broadcom and NetApp fell as investors reacted to a weaker-than-expected revenue forecast and a shortfall in deferred revenue.
- Netskope gained on a revenue outlook that exceeded consensus and an improved loss outlook.
- Petco rallied after its adjusted EBITDA margin beat expectations, including a tariff-adjusted comparison.
- Five Below rose as it exceeded forecasts on both revenue and profit and reported stronger same-store sales.
What drove the biggest share moves
Snowflake led the biggest upside in extended trading, with shares rising about 20% after the company reported second-quarter adjusted earnings of 62 cents per share on revenue of $1.55 billion. Analysts surveyed by LSEG had expected 45 cents per share and $1.48 billion in revenue. The stock’s reaction also reflected Snowflake’s decision to raise its full-year product revenue guidance, a change investors often view as a signal of stronger demand and improved monetization.
Netskope also attracted momentum to the upside, climbing roughly 13% as its full-year revenue outlook came in above consensus. The company projected revenue in a range of $888 million to $892 million, compared with an LSEG estimate of $881 million. Netskope additionally forecast an adjusted loss of 15 cents per share for the year, narrower than an estimated loss of 18 cents, helping investors interpret the business trajectory as gradually improving.
Petco gained around 10% after its second-quarter adjusted EBITDA margin reached 8.2%, beating the StreetAccount consensus of 7.4%. Excluding a tariff benefit, the margin was 7.7%, which still was above analysts’ expectations, reinforcing the impression that underlying profitability was not solely driven by one-time factors.
Five Below rose about 6% after its second-quarter results beat expectations on both the top and bottom lines. The retailer reported earnings of $1.68 per share on revenue of $1.26 billion, versus FactSet expectations of $1.40 per share and $1.22 billion. It also posted same-store sales that surpassed estimates, a key driver for discount retailers because it reflects consumer demand and traffic trends.
In contrast, Broadcom slid more than 2% as investors reacted to its fourth-quarter revenue forecast. The chipmaker projected fourth-quarter revenue of $34.8 billion, below an estimate of $35.03 billion. Investors also focused on non-GAAP operating margin guidance of 66%, slightly under the 66.5% estimate. Broadcom reported third-quarter revenue of $29.59 billion and adjusted earnings of $3.32 per share, but the forward-looking figures dominated the post-results move.
NetApp fell roughly 8% after its first-quarter deferred revenue came in at $4.85 billion, slightly below a $4.86 billion StreetAccount consensus target. The company’s non-GAAP gross margin was 70.6%, compared with an expectation of 69.7%. While the gross margin figure aligned modestly above consensus, the deferred revenue shortfall appeared to weigh on investor confidence in near-term demand visibility.
Companies caught on the margin—beats, misses, and guidance signals
Hewlett Packard Enterprise slipped about 1% after its fiscal-year outlook. The enterprise technology company said it expects earnings growth of 16% to 20% for the fiscal year ending October 2027, while FactSet consensus called for an 18.7% increase. HPE also guided for cash flow of at least $5 billion, above the Street forecast of $4.79 billion. The modest decline suggests investors may have been less focused on the cash flow upside than on other moving parts of the guidance package.
Argan gained about 8% after reporting second-quarter earnings and revenue that beat expectations. The engineering and construction company earned $3.76 per share versus the $2.64 per share estimate from analysts polled by FactSet. Revenue came in at $384 million, well above the $300.5 million expected by analysts, underscoring a stronger execution picture in the period.
C3.ai, an artificial intelligence app software company, fell around 1% as second-quarter revenue guidance disappointed the market. While the company’s broader fundamentals were not detailed in the extended-trading summary, the guidance shortfall was enough to pressure the stock.
Meanwhile, the mixed performance across the group reinforced how investors are prioritizing forward indicators—especially guidance and revenue-related metrics such as deferred revenue and contract visibility—over headline earnings in the near term.
What investors may watch next
With many companies moving on guidance and revenue visibility rather than just quarterly earnings, the next signals to monitor include management updates on forward demand, any revisions to full-year projections, and follow-through on metrics tied to customer activity—such as product revenue guidance, deferred revenue, and same-store sales. For investors, upcoming earnings releases and further macro data that influence expectations for growth and spending will likely determine whether this round of results translates into sustained trends or fades as markets recalibrate.
