Dell Technologies experienced a nearly 9% surge in its stock price after reporting earnings that surpassed expectations and raising its fiscal 2027 forecast, driven by growth in its artificial intelligence service business.
In contrast, MongoDB's shares dropped 12% despite reporting earnings of $1.90 per share on $772 million in revenue, both of which exceeded analyst forecasts of $1.61 and $734 million, respectively. Credo Technology's stock fell almost 4% after its non-GAAP gross margin of 68% slightly missed the expected 68.3%, although it did beat other performance metrics.
GitLab's shares soared nearly 20% following its earnings beat, reporting 24 cents per share on revenues of $286 million, surpassing estimates of 18 cents and $273 million. Palo Alto Networks' stock remained relatively flat after reporting better-than-expected earnings of $1.02 per share on $3.41 billion in revenue, exceeding analyst expectations of 98 cents and $3.35 billion.
These movements highlight the volatility in tech stocks based on earnings performance and market expectations