Okta Projects Sales Topping Estimates on Remote-Work Demand

(Bloomberg) — Okta Inc. gave a revenue forecast for the current quarter that topped analysts’ estimates, signaling steady demand for its identity software while corporate employees log on to work from home during the pandemic.



A woman works at a desktop computer alongside an Apple Inc. laptop in a home office in this arranged photograph taken in Bern, Switzerland, on Saturday, Aug. 22, 2020. The biggest Wall Street firms are navigating how and when to bring employees safely back to office buildings in global financial hubs, after lockdowns to address the Covid-19 pandemic forced them to do their jobs remotely for months.


© Photographer: Stefan Wermuth/Bloomberg
A woman works at a desktop computer alongside an Apple Inc. laptop in a home office in this arranged photograph taken in Bern, Switzerland, on Saturday, Aug. 22, 2020. The biggest Wall Street firms are navigating how and when to bring employees safely back to office buildings in global financial hubs, after lockdowns to address the Covid-19 pandemic forced them to do their jobs remotely for months.

Sales will be as much as $222 million in the period ending in January, the San Francisco-based company said Wednesday in a statement. Analysts, on average, estimated $216.7 million, according the data compiled by Bloomberg. In the current fiscal year, Okta raised its projected

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Zoom’s Revenue Forecast Tops Estimates Amid 2021 Concerns

Zoom’s projected slowing revenue expansion in the current period highlights investors’ concerns that 2021 won’t be as favorable for the software maker as this year, when the company gained customers forced to work and go to school remotely. Zoom’s stock has jumped sevenfold thus far in 2020, heightening questions about whether the company is overvalued. Wall Street has fawned over the company for its accelerating sales growth, but analysts have raised questions about how long it might last.

In the fiscal third quarter, Zoom said sales increased 367% to $777.2 million from a year earlier. Profit, excluding some items, was 99 cents a share. Analysts projected revenue of $693.4 million and adjusted profit of 75 cents.

Zoom’s stock has become a barometer of the pandemic economy, rising when Covid-19 lockdowns emerge and falling on good news about vaccines. Chief Executive Officer Eric Yuan has tried to diversify Zoom’s capabilities for

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Zoom Projects Revenue That Would Top Analysts’ Estimates

Zoom’s slowing revenue expansion in the current period highlights investors’ concerns that 2021 won’t be as favorable for the software maker as this year, when the company gained customers forced to work and go to school remotely. Zoom’s stock has jumped sevenfold this year, heightening questions about whether the company is overvalued.

In the fiscal third quarter, Zoom said sales increased 367% to $777.2 million from a year earlier. Profit, excluding some items, was 99 cents a share. Analysts projected revenue of $693.4 million and adjusted profit of 75 cents.

Zoom’s stock has become a barometer of the pandemic economy, rising when Covid-19 lockdowns emerge and falling on good news about vaccines. Chief Executive Officer Eric Yuan has tried to diversify Zoom’s capabilities for large enterprises, small- and mid-sized businesses and individuals so the company can grow after the coronavirus is controlled and greater numbers of workers return to their

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Dell sees sales above estimates on booming demand for remote-work tools

FILE PHOTO: The logo for Dell Technologies Inc. is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., January 10, 2019. REUTERS/Brendan McDermid

(Reuters) – Dell Technologies Inc forecast current-quarter sales above market expectations as a pandemic-driven shift to remote work and learning powered demand for its desktops and notebooks, helping it post a surprise rise in third-quarter revenue.

The company said, on an earnings call with analysts on Tuesday, that it expects fourth-quarter revenue to rise 3% to 4% sequentially, implying a range between $24.18 billion and $24.42 billion, compared with analysts’ average expectation of $23.09 billion.

The PC maker’s shares were last up marginally in volatile after-market trading, as adjusted earnings matched Wall Street expectations of $2.03 per share.

Consumers and businesses are spending on notebooks at a rate Dell has not seen in over a decade, according to

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Facebook Estimates Hate Speech Seen in 1 Out of 1000 Views on Its Platform | World News

(Reuters) – Facebook Inc for the first time on Thursday disclosed numbers on the prevalence of hate speech on its platform, saying that out of every 10,000 content views in the third quarter, 10 to 11 included hate speech.

The world’s largest social media company, under scrutiny over its policing of abuses, particularly around November’s U.S. presidential election, released the estimate in its quarterly content moderation report.

On a call with reporters, Facebook’s head of safety and integrity Guy Rosen said that from March 1 to the Nov. 3 election, the company removed more than 265,000 pieces of content from Facebook and Instagram in the United States for violating its voter interference policies.

Facebook also said it took action on 22.1 million pieces of hate speech content in the third quarter, about 95% of which was proactively identified. It took action on 22.5 million in the previous quarter.

The company

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Earnings Estimates Rising for Computer Task Group (CTG): Will It Gain?

Computer Task Group (CTG) could be a solid choice for investors given the company’s remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue since analysts are still raising their earnings estimates for the company.

The upward trend in estimate revisions for this information technology staffing company reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. This insight is at the core of our stock rating tool — the Zacks Rank.

The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.

For

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Applied Materials Tops Estimates – TheStreet

Applied Materials, Inc.  (AMAT) – Get Report topped analyst estimates for fiscal fourth-quarter results and offered upbeat revenue guidance for its fiscal first quarter after the bell on Thursday.

The company reported non-GAAP earnings per share of $1.25 on revenue of $4.69 billion.

Applied Materials, based in Santa Clara, Calif., had been expected to report earnings of $1.17 a share, on sales of $4.6 billion, based on a FactSet survey of 23 analysts.

In the same period a year ago, the company posted earnings of 80 cents a share on sales of $3.8 billion. It reported net income of $571 million.

The company had offered guidance of $1.11 to $1.23 a share on Aug. 14. Shares have risen 5.2% since then.

Applied Materials also offered upbeat guidance for its fiscal first quarter, saying it expects revenue of $4.95 billion and non-GAAP diluted earnings per share between $1.20 and

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Apple Supplier Foxconn Third-Quarter Profit Growth Near Flat, Beats Estimates | Technology News

TAIPEI (Reuters) – Foxconn, the world’s largest contract electronics maker, reported near flat quarterly profit on Thursday, beating market estimates amid firm demand for telecommuting devices as the pandemic-induced work-from-home trend continues.

The Taiwanese company, whose clients include technology majors such as Apple Inc, booked July-September net profit of T$30.8 billion ($1.08 billion), Reuters calculations showed based on nine-month figures.

That compared with the T$28.61 billion average of 13 analyst estimates compiled by Refinitiv. Profit growth was nearly flat versus the T$30.7 billion of the same period a year prior.

Chief Financial Officer David Huang told an investor conference that third-quarter revenue fell 7% due to clients delaying product launches.

Still, Chairman Liu Young-way said Foxconn saw “stronger than expected” demand for both smartphones and servers, with strong shipments of Apple’s new iPhone 12 supporting revenue.

Foxconn, formally Hon Hai Precision Industry Co Ltd, said it expected revenue to rise

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Datadog Slumps Despite Beating Q3 Estimates: What Wall Street Is Saying

Shares of Datadog  (DDOG) – Get Report dropped Wednesday morning following its third quarter earnings that came out after the closing bell on Tuesday. 

The cloud analytics software company posted non-GAAP earnings per share of 5 cents, vs. analyst estimates of 1 cent a share, while its revenue of $154.7 million topped estimates by $10.4 million. 

However, Datadog posted billings of around $156 million, vs a $159.1 million consensus. Shares were falling 10.7% to $82.73 Wednesday morning. 

Here’s what Wall Street is saying about the results:

Morgan Stanley (Equal-Weight rating maintained, PT raised from $80 to $86 )

The challenge is that 4Q guidance calling for
43-44% YoY growth suggests another pronounced deceleration which reflects
prudent conservatism in light of a macroenvironment that is still challenging and
fraught with risks. With a highly efficient, go-to market model coupled with a high
velocity product engineering organization, we still see

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