Investors who followed Warren Buffet’s Berkshire Hathaway (BRK-B) and bought Ulta Beauty (ULTA) will have questions. Ulta posted revenue of $2.6 billion, up by 4.0% Y/Y. The beauty firm, however, issued a weak FY 2024 outlook.
Ulta lowered its net sales forecast to $11 billion to $11.2 billion. This is down from the prior $11.5 billion to $11.6 billion range. The firm faces higher competition from Sephora, owned by LVMH Group. In addition, Ulta stores at shopping centers face headwinds as customer traffic falls.
In the PC and server market, Dell Technologies (DELL) will rise by around 3% today. Dell posted a 9.2% Y/Y increase in revenue, to $25.03 billion. Despite falling gross margins, markets believe Dell AI servers will thrive.
Elastic (ESTC) will open down by around 25% today. It earned $0.35 a share non-GAAP. However, for FY 2025, total revenue of $1.436 billion to $1.444 billion is below consensus estimates. The 14% revenue growth is not high enough.
MongoDB (MDB) will open higher after posting operating income growing at 15% Y/Y. Even though the non-GAAP EPS is $0.70, the firm paid $122.42 million in stock-based compensation. The firm lost $71.44 million from operations on a GAAP basis. Consider avoiding MDB stock. It is not yet a profitable business
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