— Stitch Fix (NASDAQ: SFIX) reported second quarter 2020 earnings of $0.11 per share vs. $0.06 expected.
— Revenue rose 22% year-over-year to $451.8 million vs. $452.53 million expected.
— Active clients increased 17% annually to 3.5 million. Net revenue per active client grew 8% to $501.
— With regards to the coronavirus outbreak, the company said, “We recognize this is a dynamic situation and, while it’s too early for us to quantify total potential supply chain or client demand impact at this point, it’s reasonable to expect that we’ll see some impact.”
— Stitch Fix reduced its fiscal year 2020 revenue growth outlook to a range of 17-19% on a 52-week basis from the previously announced revenue growth outlook of 23–25%. Revenue is expected to be in the range of $1.81 billion to $1.84 billion for FY20.
— For the third quarter of 2020, revenue is targeted to be in the range of $465 million to $475 million, representing a year-over-year growth of 14-16%.
— SFIX stock cratered about 40% during the extended trading hours.
Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared
Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million
With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard