Thunderstorms hitting the Front Range, National Weather Service says
2:47 p.m.: A flash flood warning is posted by the National Weather Service for Monument, Black Forest and Palmer Lake until 3:15 p.m.
2:46 p.m.: Thunderstorms are rumbling through southern Douglas and southwestern Elbert counties with heavy rain and hail reported.
2:45 p.m.: Thunderstorms with heavy rains are falling over the Cameron Peak wildfire burn area where a flash flood warning is in effect, according to the National Weather Service.
GameStop Corp. Q1 Loss Decreases, but misses estimates
GameStop Corp. (GME) released Loss for first quarter that decreased from last year but missed the Street estimates.
The company’s bottom line came in at -$50.5 million, or -$0.17 per share. This compares with -$157.9 million, or -$0.52 per share, in last year’s first quarter.
Excluding items, GameStop Corp. reported adjusted earnings of -$42.3 million or -$0.14 per share for the period.
Analysts on average had expected the company to earn -$0.12 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.
The company’s revenue for the quarter fell 10.1% to $1.24 billion from $1.38 billion last year.
GameStop Corp. earnings at a glance (GAAP) :
-Earnings (Q1): -$50.5 Mln. vs. -$157.9 Mln. last year.
-EPS (Q1): -$0.17 vs. -$0.52 last year.
-Analyst Estimates: -$0.12
-Revenue (Q1): $1.24 Bln vs. $1.38 Bln last year.
Semtech Q1 Earnings, Revenue Top Estimates
Semtech Corporation (SMTC) on Wednesday reported first-quarter earnings and revenue that topped estimates.
Wednesday, the stock was trading at $25.65 in the after-hours, up 14% or $3.22 a share, on the Nasdaq.
The company reported a net loss of $29.4 million or $0.46 per share for the quarter, narrower than the loss of $38 million or $0.59 per share the prior year.
On an adjusted basis, it reported an income of $1.5 million or $0.02 per share, lower than the income of $51.8 million or $0.80 per share the prior year. However, it still beat the Street’s estimate of a loss of $0.08 per share.
Revenue increased to $236.5 million from the $202.1 million the previous year. It beat the consensus estimate of $234.9 million.
For the second quarter, the company expects to report between a loss of $0.02 and earnings of $0.06 per share. Analysts currently expect a loss of $0.02 per share. Net sales are expected to be in the range of $233.0 million to $243.0 million, compared to the analyst consensus of $242.66 million.
Smartsheet Q1 Results Beat Street, Outlook Mediocre
Smartsheet Inc. (SMAR) on Wednesday reported first-quarter results, with earnings and revenues beating Street’s targets. However, shares slipped 17% in after-hours trading reflecting a mediocre outlook for the second quarter.
Wednesday, the stock was trading at $40.23 in the after-hours, down 17% or $8.77 a share, on the New York Stock Exchange.
The company reported a net loss of $29.9 million or $0.23 per share for the quarter, narrower than the loss of $70.5 million or $0.55 per share the prior year.
On an adjusted basis, it reported an income of $25 million or $0.18 per share, compared to the loss of $23.7 million or $0.18 per share the prior year. Analysts expected earnings of $0.08 per share.
Revenue increased to $219.8 million from $168.3 million the previous year. It beat the consensus estimate of $214.07 million.
For the second quarter, the company expects to report earnings between $0.07 and $0.08 per share. Analysts currently expect earnings of $0.07 per share. Net sales are expected to be in the range of $228 million to $231 million, compared to the analyst consensus of $230.09 million.
For the full year, the company sees earnings of $0.37 to $0.44 per share, compared to the consensus of earnings per share of $0.35. Revenue is expected to be between $943 million and $948 million, compared to the consensus of $945.92 million
Verint Systems Inc. Q1 Earnings Summary
Below are the earnings highlights for Verint Systems Inc. (VRNT):
Earnings: -$1.91 million in Q1 vs. -$4.91 million in the same period last year.
EPS: -$0.03 in Q1 vs. -$0.08 in the same period last year.
Excluding items, Verint Systems Inc. reported adjusted earnings of $34.8 million or $0.53 per share for the period.
Analysts projected $0.47 per share
Revenue: $216.6 million in Q1 vs. $217.9 million in the same period last year.
Full year EPS guidance: $2.65
Full year revenue guidance: $935 mln
Trip.com Group Limited Q1 Earnings Summary
Below are the earnings highlights for Trip.com Group Limited (TCOM):
Earnings: RMB3.37 billion in Q1 vs. -RMB0.99 billion in the same period last year.
EPS: -RMB1.52 in Q1 vs. RMB5.02 in the same period last year.
Excluding items, Trip.com Group Limited reported adjusted earnings of RMB2.07 billion or RMB3.07 per share for the period.
Revenue: RMB9.21 billion in Q1 vs. RMB4.11 billion in the same period last year.
PHOTOS: Denver Nuggets best Miami Heat 109-94 in NBA Finals Game 3
MIAMI – The only thing coursing through the white-hot crowd was an artificial bass.
The Nuggets stormed into South Beach and stomped the life out of the crowd on Wednesday night.
With surgical passing and physical, hard-nosed play, the Nuggets seized control of the NBA Finals with a dominant 109-94 win in Game 3. Behind dueling triple-doubles from Nikola Jokic and Jamal Murray, Denver’s two franchise pillars, the Nuggets wrested homecourt advantage back from Miami after ceding it in Game 2.
Click here to read the full game story.