Earnings Wrap: Academy Sports, Adobe, Dollar General, KE Holdings, UiPath

After U.S. markets closed Wednesday, Adobe Inc. (NASDAQ: ADBE) released its first-quarter 2023 earnings report. The software company beat earnings per share (EPS) and revenue expectations. Adobe’s revenue and profit continue to grow quarter over quarter and year over year. The company also raised full-year adjusted EPS guidance above the consensus estimate. Second-quarter EPS and revenue guidance are in line with estimates. Shares traded up about 5.5% in Thursday’s premarket.

Enterprise robotics process automation software maker UiPath Inc. (NYSE: PATH) also reported better-than-expected EPS and revenue results for its fourth quarter of fiscal 2023 that ended in January. EPS of $0.15 more than doubled the expected $0.07, and revenue came in 10.7% higher than the consensus estimate. UiPath also raised first quarter and full fiscal 2024 revenue guidance above consensus estimates. The stock was up more than 16% in premarket trading.

Before markets opened on Thursday, Academy Sports and Outdoors Inc. (NASDAQ: ASO) beat consensus estimates on both the top and bottom lines. The sporting goods retailer also said that same-store sales were down 5.1% in the fourth quarter, with traffic down 6.4%, while average ticket size rose by 1.3%. Academy issued downside guidance for fiscal 2024, although the top ends of both EPS and revenue guidance were very close to consensus estimates. Shares traded up more than 4% in Thursday’s premarket.

Off-price retailer Dollar General Corp. (NYSE: DG) matched the quarterly EPS estimate but missed on revenue. Same-store sales rose 5.7% for the quarter and 4.3% for the 2023 fiscal year than ended in January. EPS guidance was slightly below expectations while revenue was in line with estimates. Dollar General also raised its annual dividend from $2.20 to $2.36 (7.27%). The stock was down less than 1% in premarket trading.

Beijing-based KE Holdings Inc. (NYSE: BEKE) also beat top-line and bottom-line estimates Thursday morning. The Chinese real estate firm reported adjusted earnings per American depositary share of $0.18, compared to a consensus estimate of $0.08. Revenue of $2.4 billion was slightly better than expectations. KE Holdings also issued upside revenue guidance for the March quarter which it attributed to “the potential impact of the recent real estate related policies and measures, all of which remain uncertain and may continue to affect the Company’s operations.” Shares traded up more than 6% in Thursday’s premarket.

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