Voya Financial (VOYA) Q3 Earnings and Revenues Top Estimates


Technology stocks were advancing on Tuesday, with the SPDR Technology Select Sector ETF (XLK) rising 2.1% while the Philadelphia Semiconductor Index was gaining 4.0% this afternoon.

In company news, UiPath (PATH) climbed 13% after the software firm overnight announced preliminary Q3 results exceeding its prior guidance for the three months ended Oct. 31 and also topping analyst estimates. Excluding one-time items, it expects operating income of $15 million during Q3 on $260 million in revenue compared with the analyst mean looking for a non-GAAP Q3 net loss of $18.7 million on $248 million in revenue.

Endava (DAVA) rose over 15% after the technology services firm Tuesday beat analyst estimates with its fiscal Q1 results and also raised its FY23 earnings and revenue forecast ranges above Wall Street expectations. Excluding one-time items, it earned 0.54 British pounds ($0.64) per share during the quarter ended Sept. 30 while revenue increased 33% year-over-year to 196.2 million pounds compared with the Capital IQ consensus expecting a 0.51 per share adjusted profit on 192.4 million pounds in revenue.

Taiwan Semiconductor Manufacturing (TSM) rallied Tuesday, rising more than 12%, after Berkshire Hathaway (BRK.A, BRK-B) overnight disclosed acquiring around 60.1 million of the chipmaker’s American depositary shares through Sept. 30, paying $4.12 billion for the 1.2% equity stake.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


Image and article originally from www.nasdaq.com. Read the original article here.