Atlassian's stock soared 20% following the release of its fiscal second-quarter earnings report, which exceeded Wall Street's expectations. The software company reported adjusted earnings of 96 cents per share on $1.29 billion in revenue, showcasing its robust performance. Meanwhile, Apple also surprised analysts by surpassing first-quarter estimates, despite a dip in iPhone sales. Apple's services revenue played a crucial role in compensating for this shortfall.
Apple posted first-quarter revenue of $83.43 billion, falling short of the consensus forecast of $86.63 billion. Nevertheless, the company's strong performance in its services sector helped mitigate weaker-than-anticipated iPhone sales. This financial resilience underscores Apple's ability to adapt to market fluctuations and highlights the importance of its diversified revenue streams.
Intel experienced a modest uptick of 1.5% in its stock price after narrowly beating fourth-quarter earnings forecasts. The chipmaker reported earnings of 13 cents per share, excluding certain items, surpassing the 12 cents forecast by analysts surveyed by FactSet. This slight positive momentum underscores Intel's continued efforts to navigate the competitive semiconductor industry.
Eastman Chemical's shares surged nearly 4% as the company's fourth-quarter earnings outpaced analyst predictions. Eastman reported earnings per share of $1.87, excluding certain items, exceeding the expected $1.57 per share estimated by FactSet analysts. This strong performance highlights Eastman's ability to deliver solid financial results amidst a challenging economic landscape.
KLA Corp. also posted impressive results, with adjusted earnings of $8.20 per share on $3.08 billion in revenue, outperforming analyst expectations of $7.75 per share and $2.94 billion in revenue as surveyed by LSEG. KLA's robust financial performance reflects its strong market position and effective business strategies.
In contrast, Chevron's stock fell by more than 1% following a disappointing fourth-quarter earnings report. The oil giant reported adjusted earnings of $2.06 per share, slightly below the $2.11 per share forecast by LSEG analysts. This underperformance illustrates ongoing challenges within the energy sector.
Exxon Mobil shares saw a modest increase after reporting fourth-quarter earnings that exceeded analyst expectations. The company earned $1.72 per share, excluding certain items, compared to the $1.56 per share estimated by LSEG analysts. Exxon's solid results underscore its ability to thrive in a volatile energy market.
Walgreens Boots Alliance faced a significant setback as its shares dropped nearly 12% after announcing the suspension of its quarterly cash dividend. This decision reflects the pharmacy chain's ongoing struggle to stabilize its financial position amidst challenging market conditions.