SolarEdge, Qualcomm, Etsy, Electronic Arts, Roku, DoorDash, Tandem Diabetes Care, e.l.f. Beauty, Airbnb, Clorox, Zillow Group, Mondelez International, and Sarepta Therapeutics are among the companies that made headlines in extended trading.
SolarEdge, a solar stock, experienced a steep decline of 23% after releasing a disappointing third-quarter report and a pessimistic outlook for the current quarter’s revenue. The company posted a loss of 55 cents per share, excluding items, while analysts had forecasted a gain of 89 cents per share. Additionally, SolarEdge’s revenue of $725 million fell short of the $768 million consensus estimate. For the current quarter, the company guided revenue to be between $300 million and $350 million, which is significantly lower than the $688 million anticipated by analysts.
On the other hand, Qualcomm, a wireless tech company, saw its shares jump 3.6% as it exceeded analysts’ estimates in its fiscal fourth quarter. The company reported adjusted earnings of $2.02 per share on revenue of $8.67 billion, surpassing the anticipated earnings of $1.91 per share and revenue of $8.51 billion.
Meanwhile, Etsy, the online marketplace, experienced a 3% decrease in shares. CEO Josh Silverman expressed concerns about the challenging outlook for discretionary spending and stated that the volatile macro climate would make it challenging for the company to grow this quarter. Although Etsy beat analysts’ estimates for earnings in the third quarter, it fell short of Wall Street’s expectations on revenue.
Electronic Arts, a gaming stock, climbed 3.5% after outperforming analysts’ consensus forecasts for net bookings in the fiscal second quarter. The company also issued guidance for the current quarter and full year that aligned with expectations.
In exciting news, Roku, the streaming video company, witnessed a 16% surge in shares as its third-quarter revenue exceeded expectations. The company generated $912 million in revenue, surpassing the predicted $855 million. Roku’s fourth-quarter guidance for revenue and a key profitability metric also exceeded expectations.
DoorDash, the food delivery stock, experienced a 7% increase in extended trading. The company reported a loss of 19 cents per share on revenue of $2.16 billion, surpassing analysts’ expectations of a 40 cent loss per share and revenue of $2.09 billion.
However, Tandem Diabetes Care, an insulin company, faced an 18% decline after reporting a third-quarter loss per share of 51 cents, wider than analysts’ estimated loss of 48 cents. The company’s revenue of $185.6 million also missed estimates. Additionally, Tandem Diabetes Care’s full-year revenue guidance of $765 million fell $20 million below the prior forecast and missed analysts’ consensus of $788 million.
In positive news, e.l.f. Beauty, a cosmetics stock, saw a 5% increase after surpassing Street expectations and raising its full-year guidance for the second quarter in a row. The company posted 82 cents in adjusted earnings per share and $215.5 million in revenue for the second fiscal quarter, exceeding analysts’ forecasts of 53 cents per share and revenue of $197.1 million.
Airbnb, the vacation rental platform, experienced a nearly 3% drop after announcing that fourth-quarter revenue would total $2.13 billion to $2.17 billion, slightly below the consensus estimate of $2.18 billion. Additionally, the company mentioned that fourth-quarter nights booked would moderate compared to the prior three-month period.
In contrast, Clorox, a consumer goods giant, witnessed a 7% jump in shares. The company reported fiscal first-quarter revenue of $1.39 billion, surpassing analysts’ estimates of $1.31 billion.
Zillow Group, the real estate brand parent, faced a 3% decline as the number of average monthly unique users and visits decreased in the third quarter compared to the same period last year. This overshadowed an earnings report that exceeded analysts’ expectations for the quarter.
Mondelez International, known for brands like Oreo and Ritz, traded 3% higher after beating expectations for the third quarter and raising full-year guidance. The company reported 82 cents per share in earnings, excluding items, on $9.03 billion in revenue, exceeding analysts’ forecasts of 79 cents per share and revenue of $8.83 billion.
Lastly, Sarepta Therapeutics, a biopharmaceutical stock, advanced 1.6% after surpassing Wall Street expectations in the third quarter. The company reported a loss of 46 cents per share and saw revenue of $331.8 million, outperforming analysts’ anticipated loss of $1.22 per share and revenue of $285.3 million.
It is important to note that CNBC’s Darla Mercado, Sarah Min, Jesse Pound, and Scott Schnipper contributed to this report.
I have over 10 years of experience in the cryptocurrency industry and I have been on the list of the top authors on LinkedIn for the past 5 years. I have a wealth of knowledge to share with my readers, and my goal is to help them navigate the ever-changing world of cryptocurrencies.
