Shares of Intuit fell as much as 9% in after-hours trading after the company issued downbeat full-year guidance and projected slower growth in its TurboTax segment, overshadowing a modest revenue beat.
The software company now expects fiscal 2027 earnings per share of $22.88 to $23.12, missing Wall Street’s consensus of $27.30. Revenue is projected at $23.3 billion to $23.5 billion, trailing the $23.74 billion estimate. Intuit also cited ongoing platform restructuring as a drag on near-term performance.
Semtech shares rose 3% after the company reported a strong second-quarter beat-and-raise, driven by a 64% surge in its AI data center networking segment. Adjusted earnings reached $0.71 per share on revenue of $341.9 million, both exceeding analyst expectations. For the third quarter, Semtech guided revenue to $405 million to $415 million and EPS to $1.02 to $1.08, well above current forecasts.
Spyre Therapeutics slumped 16% after its Phase 2 SKYWAY trial evaluating SPY072, a TL1A inhibitor, failed to meet efficacy thresholds for rheumatoid arthritis treatment as a monotherapy. The setback raises questions about the program’s development path.
Zoom Video Communications declined 3.5% despite a second-quarter earnings beat, as investors took profits amid ongoing normalization in its core online segment. The company reported EPS of $1.55 on revenue of $1.28 billion. For fiscal 2027, Zoom nudged revenue guidance up to $5.09 billion to $5.10 billion.
nCino fell 10% after reporting adjusted earnings of $0.05 per share on revenue of $161 million for the second quarter. The cloud banking software provider’s third-quarter revenue outlook of $161.25 million to $163.25 million provided little reassurance, as investors remained concerned about prolonged sales cycles in the regional banking sector.
