Earnings season from Q2 is winding down, and many components of the S&P 500 have reported spectacular results, especially those in the AI supply chain.

When companies like NVIDIA and Alphabet report earnings, the market tends to grab its popcorn and wait for fireworks. But not every big Q2 earnings winner is in the AI ecosystem.

In fact, many of the market’s biggest beats came from under-the-radar companies that are quietly executing their strategies.

Those are the companies we’ll be focusing on today.

Here are five that reported excellent earnings last week that may not be on your watchlist.

Victoria’s Secret and Co.

Victoria’s Secret (NYSE:VSXY) recently switched tickers from VSCO to VSXY, and with the new ticker came a renewed rally as its fiscal Q1 2026 earnings results smashed expectations.

For the quarter ending May 2nd, Victoria’s Secret reported revenue of $1.56 billion, up 15% year-over-year (YoY) and above the midlevel consensus of $1.52 billion. Comp sales were up 12% YoY, with broad-based growth across the Victoria’s Secret, Beauty, and PINK brands.

However, it was the bottom line that drove the stock up nearly 50% following the release. The company reported EPS of $0.60, a 500% YoY increase and double the expected $0.30. Operating income also rose to $80 million thanks to margin expansion, which is an impressive feat considering the company’s vulnerability to tariffs.

Victoria’s Secret raised both Q2 and full-year guidance, and now expects revenue between $7.03 billion and $7.18 billion in fiscal 2026. The stock response was explosive, but a few technical indicators had been flashing before the blowout earnings news. A Golden Cross began the uptrend last fall, but the stock had spent most of 2026 in consolidation.

However, both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicators triggered bullish signals in late May, hinting that an earnings beat was in the works. And despite the sizable gain, VSXY shares still trade at just 22 times forward earnings and 0.95 times sales.

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Okta Inc.

It’s hard for a stock to fly under the radar when it has a $22 billion market cap after accelerating 70% in less than three months. But Silicon Valley cybersecurity firm Okta Inc. (NASDAQ:OKTA) still doesn’t get the fanfare of larger companies like Palo Alto Networks or Cloudflare despite backing up its stock gains with excellent earnings.

Okta’s fiscal Q1 2027 report was a double beat with a guidance raise, and investors rewarded it by sending the stock up 30% after hours. Revenue grew 12% YoY to $765 million, its fifth straight record-setting quarter and well above the $751 million consensus. The $0.91 EPS figure also beat the expected $0.85, and the company raised fiscal 2027 revenue guidance range to $3.19 billion to $3.21 billion. 

Once again, technical signals were the map to the buried treasure. Okta reported earnings on May 28th, but the RSI nudged into bullish territory before April had ended. The MACD also confirmed the trend reversal with a bullish crossover, and the price quickly broke resistance at the 50-day moving average. Shares have pulled back 10% this week as investors took profits, but this could also be an opportunity to open new positions.

Burlington Stores Inc.

With consumers worried about rising living costs, off-price retailers are well-positioned right now. Burlington’s (NYSE:BURL) strategy of offering private-label brands at discounted prices is paying dividends, as its fiscal Q1 2027 report showed. The company reported EPS of $2.10, its highest Q1 figure since fiscal 2022. EPS growth was 31% YoY, and sales rose 14% to $2.86 billion. But it was the margin expansion that really piqued investor interest. Adjusted EBIT margins grew 20 basis points, gross margins grew 30 basis points, and operating margin leaped to 9.5% from 5.7%.

Burlington also raised its sales growth guidance range to 9% to 11%, and growth is a must for a retailer trading at 33 times earnings and 1.7 times sales. Trading in BURL shares had been volatile, but the earnings report has revived the uptrend, pushing the share price back above the 50-day moving average. The RSI is also back in bullish territory, giving more strength to the upward momentum.

Science Applications International Corp.

Science Applications International (NASDAQ:SAIC) reported fiscal Q1 2027 earnings on June 1st, and the headline numbers didn’t appear to justify the 10% after-hours move. Revenue beat the consensus estimate by 4%, but YoY growth was a meager 1.5%. However, profitability is soaring, with EPS surprising by more than 40% to the upside, and adjusted EBITDA margins came in at 11.6%, up from 8.4% in Q1 a year ago. The Department of Defense is SAIC’s biggest client, and its backlog currently exceeds $22 billion in orders.

Management reaffirmed full-year revenue guidance, which limits the stock’s upside a bit, as opposed to a beat and raise. But strong margins appear ready to carry the day, and the stock is in full breakout mode. The price ripped through the 50-day and 200-day moving averages shortly before the earnings boost, and the MACD shows strong upward momentum.

Elastic N.V.

Elastic (NYSE:ESTC) is a data analytics firm based in Amsterdam with a $7 billion market cap, posting sales of more than $1.7 billion over the last 12 months. The company closed out its fiscal year 2026 with a Q4 earnings report on May 28, beating revenue projections by 16%. Full-year revenue also grew 17%, and the company is reporting more long-term contracts from customers looking to manage their ever-expanding AI workflows.

ESTC shares had been in a long decline, losing more than 20% of their value over the last 12 months. But recently, a breakout has been bubbling under the surface. The RSI and MACD both flipped bullish in early April, and the share price overtook the 50-day moving average a few weeks later. The earnings report provided another catalyst, and now shares are challenging the 200-day moving average for the first time since March 2025.