Eric J. Savitz

Informatica on Wednesday posted first-quarter financial results that edged consensus estimates, while repeating the company’s previous full-year outlook. For the March quarter, Informatica posted revenue of $388.6 million, up 6% from a year ago, in the middle of the company’s guidance range of $375 million to $395 million, and a smidgen ahead of the Wall Street consensus as tracked by FactSet at $388 million. Informatica said annual recurring subscription revenue was $1.16 billion, up 13%—a little above both the company’s guidance range of $1.135 billion to $1.155 billion and Street consensus at $1.15 billion.

The mobile phone chip company reported better-than-expected earnings and its guidance was strong across the board.

The internet infrastructure and security firm said 2024 revenue would be well short of current estimates.

Freshworks on Wednesday posted first quarter earnings that topped both its own forecast and Wall Street consensus estimates, while offering second-quarter and full-year guidance that came in slightly shy of analyst expectations. In late trading Wednesday, Freshworks shares are down 18%, at $14.99. The provider of IT services management and customer support software also announced that founder and CEO Girish Mathrubootham will be replaced effective today by Dennis Woodside, who has been president of the company since September 2022.

Informatica on Wednesday posted first-quarter financial results that were slightly ahead of consensus estimates, while repeating its financial forecasts for the full year. In late trading, Informatica shares were down 3.2%, at $29.85. For the March quarter, Informatica posted revenue of $388.6 million, up 6% from a year ago, in the middle of the range of $375 million to $395 management had forecast.

The online marketplace reported revenue of $2.6 billion, up 2%, and slightly above the high end of the company’s guidance range.

Carvana shares were soaring in late trading Wednesday after the online car seller posted blowout first quarter financial results, while promising even better results ahead. In after-hours trading, Carvana shares were 32% higher at $114.70. For the quarter, Carvana reported revenue of $3.06 billion, up 17% from the year-earlier quarter, and well ahead of the Street consensus as tracked by FactSet of $2.67 billion.

This has been a rough year so far for Apple investors, with the stock down about 11%. For the March quarter, analysts tracked by FactSet expect Apple to post revenue of $90.5 billion, down 4.5% from the year-ago quarter. Analysts expect $1.51 in earnings per share, down a penny from a year earlier.

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