Stocks making the biggest moves after hours: Paramount, Expedia, E.l.f. Beauty and more
Check out the companies making headlines in after-hours trading. Paramount Global — The media company jumped 5.7% after posting a massive earnings beat for the second quarter, reporting earnings of 54 cents per share while analysts polled by LSEG called for 12 cents per share. Paramount’s revenue of $6.81 billion for the period fell short of the estimated $7.21 billion, however, making that the company’s biggest miss relative to analyst estimates since February 2020. Paramount also announced it is cutting 15% of its U.S. workforce as part of a broader cost-cutting plan ahead of its merger with Skydance Media. Expedia — Shares slipped 2.2% after Expedia said it has seen a more challenging macroeconomic environment and a softening in travel demand in July. The online travel company beat expectations, however, reporting earnings of $3.51 per share on revenue of $3.56 billion, while analysts polled by LSEG called for earnings of $3.06 per share on revenue of $3.53 billion. Unity Software — Shares shed 4.6% after the video game software development company beat Wall Street’s earnings and revenue expectations, but forecast third-quarter revenues below estimates, seeing a range of $415 to $420 million compared to an expected $458 million. Unity reported a loss of 32 cents per share on $449 million in revenue for the second quarter, while analysts polled by LSEG expected a loss of 42 cents per share on revenue of $440 million. Take-Two Interactive Software — The video game maker gained 4.8% after posting earnings of 5 cents a share in the second quarter, while analysts surveyed by FactSet expected 2 cents a share. Take-Two missed on revenue for the quarterly period, however, reporting $1.22 billion while estimates called for $1.25 billion. Take-Two reaffirmed its adjusted earnings and bookings expectations for the full year. E.l.f. Beauty — The beauty products retailer slipped more than 5.8% after posting cautious guidance, even though the company beat analysts quarterly estimates on the top and bottom lines as sales jumped 50%. E.l.f. reported adjusted earnings per share of $1.10, higher than analysts’ expectations of 84 cents, according to LSEG. Revenue came out at $324 million for the second quarter compared to estimates of $305 million. Doximity — The digital health platform soared 25% after fiscal first-quarter earnings excluding one-time time items reached 28 cents a share, above the Street’s 22 cent consensus, according to FactSet. Forward revenue and adjusted EBITDA guidance for the second quarter and full year also topped estimates. Capri Holdings — The Michael Kors parent fell 4.2% in after-hours trading, dragged down by disappointing quarterly results. The fashion company posted earnings of 4 cents a share on revenue of $1.07 billion, while analysts polled by LSEG called for earnings of 59 cents per share on revenue of $1.16 billion. Trade Desk — The ad-buying platform advanced 5% after posting second-quarter earnings of 39 cents a share, excluding items, surpassing analysts’ expectations of 36 cents per share, according to FactSet. Revenues were $585 million for the period, also beating analysts’ forecast of $578 million. Sweetgreen — The salad chain soared nearly 20%. Sweetgreen reported second-quarter revenue of $184.6 million, topping analysts’ estimates for $181 million, per LSEG. Revenue guidance for the full year was $670 million to $680 million, versus consensus estimates for $674 million. Insulet — The maker of insulin delivery systems dipped 1%, even as Insulet revenue in the second quarter came in at $488.5 million, compared to the $463.5 million analysts expected, per LSEG. Akamai Technologies — The cloud company added 3% after second-quarter results surpassed analysts’ estimates. Akamai reported adjusted earnings of $1.58 per share on revenue of $980 million, while the Street called for $1.53 per share in earnings and $977 million in revenue, per LSEG. The company also raised its full-year guidance for adjusted earnings. DXC Technology — The northern Virginia-based IT services provider rallied 12% after hours. Fiscal Q1 EPS ex items of 74 cents beat analysts’ estimate of 58 cents, while revenue of $3.24 billion topped expectations of $3.14 billion, FactSet said. EPS guidance for the current quarter and full year were also above what the Street had forecast. — Darla Mercado and Scott Schnipper contributed reporting. This post has been syndicated from a third-party source. View the original article here.
