Impinj Reports Strong Fourth-Quarter Revenue

Impinj, the leading internet-of-things company, announced its preliminary fourth-quarter revenue, surpassing expectations. The company's revenue exceeded $70 million, which is higher than the initial guidance of $65.5 million to $68.5 million. Impinj executives are scheduled to speak at a Needham conference on Wednesday, further showcasing their success. As a result of this positive news, shares of Impinj rose by 11% in after-hours trading.

Progress Software Exceeds Analysts' Expectations

Progress Software experienced a decrease in earnings for the fourth quarter due to rising costs that outpaced revenue growth. However, the company still managed to surpass Wall Street analysts' expectations for both revenue and adjusted earnings. The fiscal 2024 outlook is projecting results that align with analysts' forecasts. Following these impressive results, Progress Software saw a 5% increase in shares after hours.

Plexus Faces Revenue and Earnings Shortfall

Plexus has issued a warning regarding a shortfall in revenue and earnings for its fiscal first quarter. The company attributes this setback to inventory corrections and weaker demand from the healthcare, life-sciences, and industrial sectors. Plexus now expects its revenue for the quarter to be between $980 million and $985 million, down from the initial projection of $990 million to $1.03 billion. Unfortunately, this news caused shares of Plexus to fall by 5% in after-hours trading.