Shares of Workday and Lucid experienced significant boosts after their latest earnings reports, reflecting a dynamic after-hours market. Workday's shares soared by 7% following the release of its fourth-quarter adjusted earnings, which stood at $1.92 per share on a revenue of $2.21 billion. Meanwhile, Lucid's stock surged over 9% after reporting an adjusted loss of 22 cents per share on revenue of $234 million, surpassing analyst forecasts.
Workday, a prominent human resources software manufacturer, also projected that its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for the current quarter would range between $220 million and $230 million. This projection fell short of the $237.1 million anticipated by analysts polled by FactSet. Despite this discrepancy, Workday's strong earnings report managed to buoy investor confidence.
Lucid's financial results showcased a revenue of $227 million, exceeding analysts' expectations of $224 million. This performance sparked a notable 9% rise in its stock value. The electric vehicle company demonstrated resilience in its financials despite reporting an adjusted loss per share.
AMC Entertainment also experienced a positive response from the market, with shares climbing over 5%. The movie theater chain reported revenues of $1.31 billion, slightly above the $1.30 billion forecasted by analysts surveyed by LSEG. This marginal beat was enough to instill optimism among investors.
Intuit delivered impressive results as well, reporting adjusted earnings of $3.32 per share on revenue of $3.96 billion, substantially surpassing analyst estimates of $2.58 per share and $3.83 billion in revenue. This robust performance underscored Intuit's strong market position and its ability to meet and exceed market expectations.
Conversely, Instacart's shares fell by 8% after the grocery delivery service released its earnings report. In contrast, fast-food chain Jack in the Box saw its stock surge more than 10%, despite reporting fourth-quarter revenue of $883 million, which missed analysts' call for $891 million.
Cava faced a minor setback as its adjusted earnings of 5 cents per share fell short of analysts' expectations for 6 cents per share. Nonetheless, the broader market movements were largely characterized by significant gains from key players like Workday and Lucid.