Despite fiscal second-quarter results beating expectations, Palo Alto Networks has revised its full-year outlook for fiscal 2024 revenue. The cybersecurity company now anticipates revenue of $7.95 billion to $8 billion, down from the previous guidance of $8.15 billion to $8.2 billion. As a result, shares fell 20% to $291.97 in after-hours trading.
SolarEdge Technologies Challenges
SolarEdge Technologies continues to face challenges as higher interest rates and lower power prices impact residential solar demand, leading to a 56% decrease in fourth-quarter revenue. The company has forecast first-quarter revenue of $175 million to $215 million, signaling a significant drop of 77% to 81% from the previous year. Consequently, shares fell 12% to $74.49 in after-hours trading.
Teladoc Health Projections
Teladoc Health, on the other hand, projected a wider-than-expected loss in the first quarter and revenue below analysts’ estimates. The telehealth company also provided a revenue forecast of $2.64 billion to $2.74 billion for 2024, falling short of the $2.77 billion expected by analysts. This news resulted in shares dropping 17% to $16.99 after hours.