Post-Bell Stock Movements: Key Companies Show Mixed Results
- Qualcomm shares fell nearly 6% despite a slight earnings beat.
- AppLovin’s stock surged over 20% on strong third-quarter results.
- Zillow’s shares plummeted more than 16% after disappointing earnings and revenue.
Several prominent companies experienced significant stock movements after market hours, revealing a range of financial performances and future outlooks.
Qualcomm saw a nearly 6% decline in share price despite reporting a slight earnings beat in its fiscal fourth-quarter financial report. The company anticipates adjusted earnings between $2.15 and $2.35 per share for the upcoming quarter, while analysts projected $2.26 per share, according to FactSet.
In contrast, AppLovin’s stock surged by more than 20% after the mobile game advertising software company announced third-quarter results that exceeded estimates. AppLovin recorded adjusted EBITDA of $1.84 billion, exceeding the consensus estimate of $1.73 billion, with revenue reaching $2.18 billion against a forecast of $2.07 billion.
Expedia’s shares dropped over 7% following weaker-than-expected guidance for the current quarter. The online booking company’s revenue forecast ranges between $3.69 billion and $3.75 billion, falling short of the average analyst expectation of $3.74 billion. However, it had exceeded both earnings and revenue estimates in the third quarter.
Coherent experienced a 7% increase after reporting adjusted earnings of $2.09 per share, surpassing the FactSet estimate of $1.99. The company’s revenue and forward guidance were also above expectations.
Zillow’s shares plummeted more than 16% after missing key metrics in its third-quarter earnings report, reporting adjusted earnings of 55 cents per share compared to the expected 59 cents. Revenue came in at $724 million, below the forecast of $754 million.
Klaviyo, a customer relationship management platform, saw its stock slide approximately 5% despite reporting third-quarter results that beat estimates. The company posted adjusted earnings of 22 cents per share on revenue of $387.2 million, exceeding the FactSet consensus of 17 cents per share and $380 million in revenue. Klaviyo also raised its full-year revenue guidance.
MercadoLibre’s stock dropped about 7% after reporting third-quarter earnings that fell short of expectations with earnings of $8.83 per share compared to the FactSet consensus estimate of $9.27. However, revenue of $10.75 billion did exceed the estimate of $10.69 billion.
Arm Holdings saw a nearly 2% dip, despite delivering a strong earnings report with adjusted earnings of 52 cents per share, above the consensus estimate of 47 cents.
Cava’s shares declined over 11% after reporting third-quarter financial results that missed Wall Street expectations. The company’s earnings came in at 11 cents per share, below the consensus estimate of 12 cents, with revenue reported at $356 million as opposed to the expected $359 million.
Wolfspeed, a semiconductor manufacturer, dropped by 5% after reporting a wider-than-expected loss in its fiscal first quarter. The adjusted loss of $2.03 per share was greater than the FactSet consensus estimate of a $1.99 per share loss.
Figma’s stock fell nearly 7%, despite exceeding expectations in third-quarter results. The cloud-based design platform reported adjusted earnings of 10 cents per share on revenue of $391 million, surpassing the LSEG consensus of 5 cents per share and $376 million in revenue.
HubSpot’s shares decreased by more than 8% after its fourth-quarter guidance for earnings and revenue came in lower than expectations. The company forecasts earnings between $3.85 and $3.87 per share with revenue of $945 million to $947 million, while analysts predicted earnings of $4.09 per share and revenue of $964.9 million. Nonetheless, HubSpot beat expectations in the third quarter.
e.l.f. Beauty gained over 4%, reporting strong fiscal second-quarter results with adjusted earnings of $1.21 per share and $521 million in revenue, surpassing estimates of 60 cents per share and $470 million.
Shares of Snap fell by 7% after its third-quarter revenue of $1.72 billion narrowly missed the LSEG consensus estimate of $1.73 billion, and its global daily active users also fell short of expectations at 495 million versus a forecast of 499 million.
Finally, Dutch Bros saw a staggering 19% decline in its stock price after lowering its full-year adjusted EBITDA guidance to a minimum of $380 million, down from a previous range of $385 million to $390 million. Third-quarter same-store sales were also weaker than anticipated at 4.4%, below the StreetAccount consensus of 4.6%.
Fastly, the edge cloud platform, also experienced a 16% drop in shares despite posting earnings and revenue that surpassed estimates along with favorable guidance for the current quarter. The company announced that Scott Lovett, president of Go To Market, will be retiring in 2027.
News Courtesy of CNBC
