Half a dozen venture stocks reported gains this week, but with the world in turmoil, the market gave them a kind of rough reception.
It’s hard to say what messed up the stock market, but it certainly wasn’t the companies straight revenue numbers, as they all reported strong quarters:
There is a lot happening in the world right now and the stock market has had a rough ride so far this year. Maybe the negativity is just contagious.
Whatever the reason, the companies reporting positive results saw mixed reactions in the market. On the upside were Box and Splunk, with their stock up about 6% this week. That may not seem like much, but in the current climate (and especially given the stock market’s historically negative reaction to the Box results), it was Wall Street’s equivalent of shouting praise from the rooftops.
On the flip side, we find Snowflake, whose stock took a knock this week despite growing 101% in revenue, something most would consider robust. Rather than be happy with that result, at one point in trading after hours, investors knocked the stock down as much as 30%. As of today, the company’s stock fell more than 21% for the week.
Here are the five-day results for all six enterprise tech companies reporting as of noon ET this week:
We decided that it would be worth taking a closer look at these various results and seeing what was happening under the financial hood, and whether these companies really justify the response they were getting, or whether Wall Street is just skittish like the rest of us.
How to Avoid Pain on Wall Street: Box’s Profit Saga
Box today is our example of a company that has made it to profits unscathed, it’s somewhat strange – the company spent much of 2021 battling some of its shareholders, so you might not expect it to be after such a bruising fight.