Apparel stocks have been met with some serious volatility in recent quarters, with some of the high flyers suffering considerable falls from grace—think PVH—while some underdogs—like SKX and CROX—have seemingly swooped in to take share. Of course, only time will tell what could be next for these turbulent consumer discretionaries as macro headwinds, high rates, and inflation hit hard and consumers change their spending patterns. Either way, recent shifts in the apparel scene have been remarkable
Business automation software provider Upland Software (NASDAQ: UPLD) reported Q1 CY2024 results beating Wall Street analysts' expectations, with revenue down 8.2% year on year to $70.74 million. On the other hand, the company expects next quarter's revenue to be around $67.4 million, slightly below analysts' estimates. It made a non-GAAP profit of $0.19 per share, down from its profit of $0.28 per share in the same quarter last year.
Call center software provider Five9 (NASDAQ: FIVN) reported Q1 CY2024 results exceeding Wall Street analysts' expectations, with revenue up 13.1% year on year to $247 million. On the other hand, next quarter's revenue guidance of $244.5 million was less impressive, coming in 1.4% below analysts' estimates. It made a non-GAAP profit of $0.48 per share, improving from its profit of $0.41 per share in the same quarter last year.
Internet security and content delivery network Cloudflare (NYSE:NET) reported Q1 CY2024 results beating Wall Street analysts' expectations, with revenue up 30.5% year on year to $378.6 million. The company expects next quarter's revenue to be around $394 million, in line with analysts' estimates. It made a non-GAAP profit of $0.16 per share, improving from its profit of $0.08 per share in the same quarter last year.
Shares of coconut water company The Vita Coco Company (NASDAQ:COCO) jumped 5.3% in the morning session after the company reported first quarter results with revenue, gross margin, and EPS exceeding expectations. The topline benefited from improved pricing of Vita Coco Coconut Water and growth in private label case equivalent ("CE") volume. It's also nice to see that full year guidance for revenue and adjusted EBITDA both came in slightly above Wall Street analysts' estimates. Zooming out, this w