Voya Financial (VOYA) Q3 Earnings and Revenues Top Estimates


Technology stocks pared some of their earlier declines but stalled short of positive territory, with the SPDR Technology Select Sector ETF (XLK) falling 0.6% while the Philadelphia Semiconductor Index slid 1.2% in Friday trading.

In company news, Zscaler (ZS) dropped nearly 11% after the cloud security company said its billings growth during its current FY23 that started in August will likely slow from prior-year levels due to longer sales cycles and extending past its normal range of 10 to 14 months. It now sees calculated billing rising 30% to 31% during the 12 months ending July 31 compared with its 59% increase during FY22, according to a Capital IQ transcript of the company’s post-earnings conference call with analysts Thursday night.

Asana (ASAN) also dropped almost 11% after forecasting Q4 revenue in a range of $144 million to $146 million, lagging the Capital IQ consensus expecting the work management software firm to generate $151.1 million in revenue for the three months ending in late January.

To the upside, UiPath (PATH) rose over 12% after late Thursday reporting a surprise Q3 profit of $0.05 per share, excluding one-time items, improving on the break-even quarter for the automation software firm during the year-ago quarter and beating the Capital IQ consensus expecting a normalized net loss of $0.01 per share. Revenue increased 19% year-over-year, growing to $262.7 million and also topping the $255.9 million analyst mean.

Samsara (IOT) gained nearly 20% after the cloud software company narrowed its non-GAAP Q3 net loss from year-ago levels, exceeding analyst estimates, while revenue for the three months ended Oct. 29 increased 49% year-over-year to $169.8 million and beating analyst estimates by $14.4 million. Samsara also trimmed its projected FY23 net loss and raised its revenue forecast for the 12 months ending Jan. 31.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



Image and article originally from www.nasdaq.com. Read the original article here.