After-Hours Movers: Adobe Systems, RH, Oracle and More

After-Hours Movers: Adobe Systems (ADBE)

Adobe Systems (ADBE) shares rose 3.6% in after-hours trading on Wednesday after the company reported better-than-expected earnings and revenue for its fiscal fourth quarter. The company's earnings per share came in at $3.60, beating the consensus estimate of $3.45, while revenue reached $4.53 billion, above the consensus estimate of $4.47 billion. Adobe also raised its guidance for fiscal 2023, saying it now expects to earn between $14.95 and $15.15 per share on revenue of between $19.1 billion and $19.3 billion.

Why It Matters:

* Adobe's strong results and upbeat guidance suggest that the company is benefiting from the continued shift to digital work and collaboration. * The company's Creative Cloud and Document Cloud products are both seeing strong demand, and Adobe is also benefiting from its recent acquisition of Figma.

After-Hours Movers: RH (RH)

RH (RH) shares rose 4.2% in after-hours trading on Wednesday after the company reported better-than-expected earnings and revenue for its fiscal fourth quarter. The company's earnings per share came in at $7.33, beating the consensus estimate of $6.82, while revenue reached $970 million, above the consensus estimate of $951 million. RH also raised its guidance for fiscal 2023, saying it now expects to earn between $32 and $33 per share on revenue of between $4.4 billion and $4.5 billion.

Why It Matters:

* RH's strong results and upbeat guidance suggest that the company is benefiting from the continued strength of the luxury home market. * The company's unique brand and high-end products are resonating with consumers, and RH is also benefiting from its recent expansion into new markets.

After-Hours Movers: Oracle (ORCL)

Oracle (ORCL) shares rose 2.4% in after-hours trading on Wednesday after the company reported better-than-expected earnings and revenue for its fiscal second quarter. The company's earnings per share came in at $1.22, beating the consensus estimate of $1.17, while revenue reached $12.3 billion, above the consensus estimate of $12.1 billion. Oracle also raised its guidance for fiscal 2023, saying it now expects to earn between $5.25 and $5.35 per share on revenue of between $52.5 billion and $53 billion.

Why It Matters:

* Oracle's strong results and upbeat guidance suggest that the company is benefiting from the continued strength of the cloud computing market. * The company's cloud infrastructure and software-as-a-service (SaaS) products are both seeing strong demand, and Oracle is also benefiting from its recent acquisition of Cerner.