GameStop, a video game retailer, saw its stock price drop by 15% in extended trading after reporting lower revenue in the fourth quarter compared to the same period the year before. The company posted $1.79 billion in revenue, down from $2.23 billion in the previous year. However, GameStop reported 22 cents in adjusted earnings per share, higher than the 16 cents per share reported a year ago.
Direct Digital, an advertising platform provider, also saw its shares plummet by 46% after reporting a net loss of $1.2 million in the fourth quarter. This is a significant decrease from the net income of $1.4 million the company reported in the same period the year before. Despite the loss, revenue for Direct Digital came in at $41 million in the fourth quarter, higher than the $30.7 million reported the previous year.
Concentrix, a customer experience technology platform, experienced a 3% drop in its stock price after reporting its fiscal first-quarter earnings. The company posted $2.57 in adjusted earnings per share on $2.4 billion in revenue. In the same quarter the year before, Concentrix reported $2.59 in earnings per share and $1.64 billion in revenue. Despite the decrease, the company reaffirmed its full-year guidance for the current year.
nCino, a cloud software company, saw its stock price rise by 11% after reporting fourth-quarter results that exceeded expectations. The company reported revenue of $123.7 million, representing a 13% increase from the previous year. nCino’s strong performance in the fourth quarter led to a positive response from investors, resulting in an increase in its stock price in extended trading.
In summary, GameStop, Direct Digital, Concentrix, and nCino all made headlines in extended trading due to their recent financial reports. While GameStop reported lower revenue but higher earnings per share, Direct Digital reported a net loss but higher revenue compared to the previous year. Concentrix saw a decrease in earnings per share and revenue, but reaffirmed its full-year guidance. nCino experienced a significant increase in revenue in the fourth quarter, leading to a positive response from investors and an increase in its stock price. These companies will continue to be closely watched by investors as they navigate the challenges and opportunities in their respective industries.
