Aruba, Salesforce, Apple: Tech Premarket
The Sunnyvale, Calif.-based firm, which makes equipment for telecom networks, saw its sales rise 22% to $139.2 million for the three-month period ending in July. Excluding items, Aruba earned 18 cents a share in the quarter, up from 17 cents a share in the prior year's quarter. Analysts were looking for sales of $136.8 million and earnings of 17 cents a share in Aruba's fiscal fourth quarter.
"Our traditional core verticals performed well in the quarter and we saw continued growth among the general enterprise," explained Aruba CEO Dominic Orr, in a statement released after market close on Thursday. "We believe that demand for wireless LAN networks remains solid."
Aruba was also one of the most active pre-market Nasdaq stocks on share volume of 55,878.
"Our own execution challenges, combined with an uneven global economy, resulted in disappointing revenue results for the quarter," noted Autodesk CEO Carl Bass, in a statement.
The computer-aided-design (CAD) software specialist plans to make job cuts in an attempt to combat the tough macroeconomic environment.
Shares of San Rafael, Calif.-based Autodesk plunged 22.99% to $27.50 before market open. Autodesk was also one of the most active pre-market Nasdaq stocks on share volume of 253,897.
As predicted, the customer relationship management (CRM) specialist flew past Wall Street's top and bottom line forecasts, although its earnings guidance weighed heavily on its shares.