Shares of Intuit fell 9% in after-hours trading after the company issued a sharply reduced fiscal 2027 outlook, citing softer demand for TurboTax and ongoing platform restructuring. The software giant projected annual earnings per share of $22.88 to $23.12, well below the $27.30 consensus, and revenue of $23.3 billion to $23.5 billion, undershooting the $23.74 billion estimate.
Semtech shares rose 3% following a strong second-quarter report that highlighted a 64% surge in its AI data center networking segment. The chipmaker posted adjusted earnings per share of $0.71 on revenue of $341.9 million, while lifting its third-quarter revenue guidance to $405 million to $415 million and EPS to $1.02 to $1.08. The company’s AI-focused growth offset broader market headwinds.
Spyre Therapeutics plunged 16% after preliminary Phase 2 results for its TL1A inhibitor SPY072 in rheumatoid arthritis failed to meet internal efficacy thresholds for monotherapy advancement. The SKYWAY study’s outcome raised questions about the drug’s development trajectory.
Zoom Video Communications declined 3.5% despite beating second-quarter estimates and raising its fiscal 2027 revenue guidance to $5.09 billion to $5.10 billion. The company reported earnings per share of $1.55 and revenue of $1.28 billion, but investors appeared to take profits amid normalization in its core online business.
nCino fell 10% after reporting adjusted earnings per share of $0.05 and revenue of $161 million for the second quarter. The cloud-based banking platform guided third-quarter revenue to $161.25 million to $163.25 million, citing extended sales cycles among regional bank customers as a near-term challenge.
