See which companies made headlines in after-hours trading. Paramount Global — The media company jumped 5.7% after posting a stellar second-quarter earnings report, reporting earnings of 54 cents per share while analysts polled by LSEG were calling for 12 cents per share. However, Paramount’s revenue of $6.81 billion for the period fell short of the $7.21 billion estimated, making it the company’s biggest miss relative to analyst estimates since February 2020. Paramount also announced it would cut 15% of its U.S. workforce as part of a broader cost-cutting plan ahead of its merger with Skydance Media. Expedia — Shares fell 2.2% after Expedia said it saw a more challenging macroeconomic environment and weaker travel demand in July. However, the online travel company beat expectations, reporting earnings of $3.51 per share on revenue of $3.56 billion, while analysts surveyed by LSEG had expected earnings of $3.06 per share on revenue of $3.53 billion. Unity Software — Shares fell 4.6% after the video game software developer beat Wall Street’s earnings and revenue expectations, but forecast third-quarter revenue below estimates, seeing a range of $415 million to $420 million compared to expectations of $458 million. Unity reported a loss of 32 cents per share on revenue of $449 million for the second quarter, while analysts surveyed by LSEG had 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 second-quarter earnings of 5 cents, compared to analysts polled by FactSet expecting 2 cents. However, Take-Two missed revenue for the quarter, reporting $1.22 billion while estimates called for $1.25 billion. Take-Two reiterated its full-year adjusted earnings and bookings forecasts. Elf Beauty — The beauty products seller fell more than 5.8% after posting cautious guidance, though the company beat analysts’ quarterly estimates on the top and bottom lines as sales jumped 50%. Elf reported adjusted earnings per share of $1.10, above analysts’ expectations of 84 cents, according to LSEG. Revenue was $324 million for the second quarter compared to estimates of $305 million. Doximity — The digital health platform surged 25% after reporting fiscal first-quarter earnings excluding one-time items of 28 cents a share, above the Street consensus of 22 cents, according to FactSet. It also beat estimates for forward revenue and adjusted EBITDA guidance for the second quarter and the full year. Capri Holdings — The parent company of Michael Kors fell 4.2% in after-hours trading, weighed down by disappointing quarterly results. The fashion company reported earnings of 4 cents a share on revenue of $1.07 billion, compared with analysts polled by LSEG expecting earnings of 59 cents a 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, beating analysts’ expectations of 36 cents a share, according to FactSet. Revenue was $585 million for the period, also beating analysts’ expectations of $578 million. Sweetgreen — The salad chain rose about 20%. Sweetgreen reported second-quarter revenue of $184.6 million, beating analysts’ estimates of $181 million, per LSEG. Full-year revenue guidance was $670 million to $680 million, versus the consensus estimate of $674 million. Insulet — The insulin delivery system maker fell 1%, even as Insulet’s second-quarter revenue came in at $488.5 million, compared to the $463.5 million analysts expected, according to LSEG. Akamai Technologies — The cloud company added 3% after its second-quarter results beat analysts’ estimates. Akamai reported adjusted earnings of $1.58 per share on revenue of $980 million, while the Street was calling for $1.53 per share in earnings and $977 million in revenue, according to LSEG. The company also raised its full-year guidance for adjusted earnings. DXC Technology — The Northern Virginia-based IT services provider rose 12% after hours. FactSet said fiscal first-quarter earnings per share, excluding items, came in at 74 cents, beating analysts’ estimates of 58 cents, while revenue of $3.24 billion topped expectations of $3.14 billion. Its earnings per share guidance for the current quarter and the full year were also higher than the Street had expected. — Darla Mercado and Scott Schnipper contributed to the report.
Trending
- Two big tests are coming that will determine whether last week's stock market excitement was justified.
- How a 'seriously outstanding tax debt' can lead to your passport being revoked
- Hezbollah fires rockets at Israel in revenge for its supreme leader
- Boeing Starliner Returns Empty, NASA Enlists SpaceX to Transport Astronauts
- Dividend Stocks Are a Hot Pick in the Fall Due to the Fed and Interest Rates
- Biden speaks with Zelensky, announces new military aid to Ukraine
- Meta says WhatsApp accounts linked to Iranian hackers targeted Biden, Trump
- Stocks with the biggest moves in the middle of the day: CAVA, INTU, ROST, WDAY
Stocks that made the biggest moves after hours: PARA, EXPE, ELF
