Check out which companies are making headlines in after-hours trading. Reddit – The social media stock rose nearly 18% on the back of better-than-expected quarterly earnings in its first report since the company's initial public offering in March. Reddit has seen a faster growth rate in ad revenue than its top competitors. Reddit reported revenue of $243 million, while analysts surveyed by FactSet expected revenue of $212.8 million. Reddit's loss per share of $8.19 for the period may not compare to the $8.71 loss expected by analysts surveyed by LSEG. Lyft – The ride-sharing company advanced more than 3% after first-quarter sales and earnings beat analysts' estimates. Lyft reported adjusted earnings of 15 cents per share on revenue of $1.28 billion. Analysts polled by LSEG expected earnings of 3 cents per share on revenue of $1.16 billion. Rivian Automotive – The electric vehicle manufacturer lost more than 3%. Rivian said it lost $38,784 per vehicle delivered in the first quarter, but after the retooling upgrade, the company expects “significant improvement in material and conversion costs for its vehicles and remains confident on track to achieve modest gross profit in the fourth quarter.” This year.” Rivian posted revenue of $1.2 billion, beating analyst estimates of $1.16 billion, according to LSEG. Wynn Resorts – Resort and casino shares added 2.3% on the back of better-than-expected first-quarter earnings. Wynn reported earnings of $1.59 US per share, excluding one-time items, on revenue of US$1.86 billion, while analysts surveyed by LSEG expected US$1.27 in earnings per share and US$1.79 billion in revenue Electronic Arts – the video game company fell 4% in Extended trading after fourth-quarter revenue of $1.67 billion based on bookings beat analysts' consensus estimates of $1.77 billion, according to LSEG and earnings per share were $1.52, although that number was not comparable to estimates provided by Arista Networks. The cloud networking company rose nearly 1%. Arista Networks posted earnings of $1.99 per share on revenue of $1.57 billion in the first quarter, while analysts polled by LSEG expected earnings of $1.74 per share and revenue of $1.55 billion. Revenue guidance for the current quarter ranged between $1.62 billion and $1.65 billion, while analysts expected $1.62 billion. Sonos – The audio products maker fell 9% after reporting a bigger loss than Wall Street expected. Sonos lost 56 cents per share in its fiscal second quarter, 10 cents more than analysts surveyed by LSEG had expected. However, the California-based company saw revenue of $253 million for the three-month period, above the consensus forecast of $247 million. . Toast – The cloud-based restaurant management software company saw shares rise more than 2% in extended trading following its earnings report. Toast saw first-quarter revenue of $1.08 billion, higher than LSEG's estimate of $1.04 billion. The 15 cent loss was 1 cent worse than the 14 cents expected. Twilio – Twilio shares fell more than 5%. The software company beat first-quarter earnings expectations by 20 cents per share and beat revenue estimates, but provided disappointing second-quarter revenue guidance. Twilio expects revenue to be between $1.05 billion and $1.06 billion versus LSEG's average estimate of $1.08 billion. Cirrus Logic – The maker of analog, mixed-signal and audio DSP integrated circuits rose 11% after fiscal fourth-quarter earnings excluding items of $1.24 beat the highest estimate on Wall Street, according to FactSet. First-quarter revenue guidance of $290 million to $350 million was also above seven analysts' range. Myriad Genetics – The maker of molecular diagnostic tests jumped more than 6% after first-quarter revenue and EBITDA beat analysts' consensus estimates, according to FactSet. Management said the quarter “saw early indications of market share gains in hereditary cancer and prenatal testing.” — CNBC's Tanaya Machel, Yun Lee, Hakyung Kim, Pia Singh, Darla Mercado, Scott Schnepper and Samantha Sobin contributed reporting.
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