While bitcoin soared to higher than $13,000 per unit, U.S. equities posted slight losses as breadth was negative on Wednesday. The S&P 500 Index lost a fraction, while the Dow Jones Industrial Average and Nasdaq Composite dipped 0.2% apiece.
Several companies unveiled their latest quarterly earnings results, including Comtech Telecomm. Corp. (NASDAQ:CMTL), Okta Inc (NASDAQ:OKTA) and Ollie’s Bargain Outlet Holdings Inc (NASDAQ:OLLI).
Here’s how they did:
Comtech Telecomm. Corp. (CMTL)
Comtech Telecomm. had a strong quarter that helped drive shares higher late Wednesday.
The communications solutions provider brought in adjusted earnings at a loss of seven cents per share during its first quarter, topping Wall Street’s expectations of a loss of 29 cents per share on an adjusted basis.
Comtech Telecomm. also improved in the revenue front as it started off fiscal 2018 with sales of $121.6 million. Analysts were calling for a consensus revenue of $106.94 million.
Bookings for the period were $165.7 million, while the company said it achieved a company-wide book-to-bill ratio of 1.36, which is a metric that consists of bookings divided by net sales.
Comtech Telecomm. updated its full-year earnings expectations to be in the range of 44 cents to 46 cents per share, compared to Wall Street’s guidance of 41 cents per share. It sees revenue in the range of $550 million to $575 million compared to the projection of $555.78 million.
CMTL stock gained 7.9% after hours.
Okta Inc (OKTA)
Okta also impressed in its latest results.
The independent secure identity management enterprise brought in a loss of 19 cents per share, which was five cents narrower than the 24-cent loss that analysts were calling for.
Revenue was also a positive metric for Okta in its third quarter of the fiscal year 2018, amounting to roughly $68.2 million, while the Wall Street consensus estimate was for revenue of $62.84 million.
For its fourth quarter of fiscal 2018, the company is forecasting non-GAAP earnings at a loss in the range of 18 cents to 17 cents per share, better than analysts’ outlook of a loss of 20 cents per share.
The company’s revenue estimate is also ahead of the mark as it is in the range of $70 million and $71 million, compared to Wall Street’s consensus projection of $67.8 million.
OKTA stock soared 4.9% after the bell Wednesday.
Ollie’s Bargain Outlet Holdings Inc (OLLI)
Ollie’s shares took a step back following the company’s quarterly results.
The brand-name merchandise retailer posted earnings of 29 cents per share, or 22 cents per share on an adjusted basis. The Zacks Investment Research prediction called for earnings of 20 cents per share on an adjusted basis.
Ollie’s reported revenue of $238.1 million during its third quarter of the current fiscal year, which was also better than Wall Street’s forecast of $232.4 million, according to Zacks.
“Strong deal flow, great new store performance, and tight expense control drove our record results. In the third quarter, we once again exceeded our sales and earnings expectations, delivering a sales increase of 18% and a 31% increase in adjusted net income,” Mark Butler, Chairman, President and CEO, stated.
Ollie’s sees its full-year earnings to be in the range of $1.21 to $1.22 per share, while revenue is slated to be between $1.06 billion and $1.07 billion.
OLLI shares fell 1.5% after the bell Wednesday.
As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.