A large number of IT companies presented their quarterly figures this week. Below is a selection of the surprisingly diverging results.
SentinelOne
SentinelOne posted solid quarterly figures, with revenue of $229 million (up 23 percent from Q1 2024) and higher profits. However, shares plummeted 12 percent due to a disappointing forecast that failed to meet analysts’ expectations. The company did introduce significant AI enhancements to Purple AI this quarter, which will undoubtedly pay off. Finally, annual recurring revenue grew to $948 million, with 22 percent more customers generating more than $100,000 in annual revenue.
Zscaler
Meanwhile, Zscaler performed strongly with $678 million in revenue (also up 23 percent from Q1 2024) and increased earnings per share to 84 cents, causing the stock to rise slightly (+3 percent). The company launched new Asset Exposure Management services and announced the acquisition of security startup Red Canary. Annual recurring revenue reached $2.9 billion.
Pure Storage
Pure Storage achieved 12 percent revenue growth to $778.5 million with lower losses, driven by strong sales of its Evergreen services. The collaboration with Meta is progressing steadily with expected deliveries of 1-2 exabytes in the second half of the year. Notably, new customer additions reached their lowest level in seven years at 235, and CFO Kevan Krysler is leaving the company.
Nvidia
One of the key players in the AI revolution is Nvidia, which seems to have to prove itself every quarter with astronomical figures. It did so again this time: $44.1 billion in revenue represented a 69 percent increase compared to Q1 2024. However, the company has to write off $4.5 billion because it is no longer allowed to sell its H20 chips intended for China due to export restrictions. According to Nvidia, this will also lead to a revenue loss of $8 billion in Q2. Data center revenue is by far the largest at Nvidia ($39.1 billion), but the gaming sector in which it grew up still had a record quarter with $3.8 billion in revenue.
Dell Technologies
Shortly after the annual Dell Technologies World, it was time for Dell to present its quarterly figures. These were largely positive, with the $12.1 billion in AI server orders standing out as a positive highlight. This means that the order book is filled to the tune of $14.4 billion, while Q2 is expected to yield much more ($28.5-29.5 billion) than analysts had expected ($25.26 billion). However, the company had to abandon its profit target for the past quarter.
HP
Dell’s competitor HP also failed to meet its profit targets. However, the news sounds more ominous: from June onwards, virtually no products manufactured in China will end up in the US, with price increases on the horizon. Economic uncertainty in the second half of the year is also dampening the mood. However, the impact of the tariff barriers should be resolved by Q4.
Salesforce
This week, we reported that Salesforce is acquiring Informatica for $8.5 billion. In the short term, however, the focus is on the quarterly figures, which were better than expected. Revenue of $9.83 billion was achieved and the forecast for 2025 was raised, but concerns about margins and the price of Informatica led to a 3% decline in market value. Analysts are said to be uncertain about the feasibility of the company’s ambitious plans.
Nutanix
Due to the exodus of VMware customers, expectations for the leading virtualization alternative Nutanix have been high in recent years. Annual recurring revenue rose 18 percent to $2.14 billion, while free cash flow ($203.4 million) and operating cash flow ($218.5 million) more than doubled compared to Q1 last year. According to CEO Rajiv Ramaswami, Nutanix has expanded or launched its activities at the “largest and most demanding” organizations, which most likely left VMware.
UiPath
UiPath saw its share price rise 11 percent after exceeding expectations and annual forecasts. CEO Daniel Dines called the newly introduced Maestro “one of the most important product launches in our history” during the presentation, but warned that revenue would not improve significantly until next year. Annual recurring revenue grew to $1.693 billion.
PagerDuty
Application monitoring company PagerDuty also exceeded Q1 expectations. However, the forecast for Q2 was a disappointment for the market, which responded with a 2 percent drop in market value. Annual recurring revenue reached €496 million, a modest 7 percent increase compared to the same quarter in 2024.