Lyft, Hood, Airbnb, MGM, and More

Welcome to our latest roundup of company updates after the markets have closed! Here’s a look at the latest news on some of the top companies making headlines in extended trading.

First up, let’s talk about Robinhood Markets. The trading platform surprised everyone with a strong earnings and revenue beat, causing its shares to jump 8%. The company reported 3 cents in earnings per share, surpassing analysts’ expectations of a 1 cent per share loss. Additionally, its revenue of $471 million exceeded the $457 million expected by analysts.

Next, Lyft saw its shares soar 16% after reporting strong fourth-quarter results and providing better-than-expected guidance. The ride-hailing operator posted adjusted earnings per share of 18 cents for the fourth quarter, topping analysts’ estimates of 8 cents. The company’s revenue of $1.22 billion was in line with analysts’ expectations.

On the other hand, GoDaddy’s shares slid 2% after it reported fourth-quarter results. The internet domain company’s total revenue of $1.1 billion was up 6% year over year.

Moving on to Akamai Technologies, the cloud computing company’s shares fell more than 3% after reporting mixed quarterly results. While earnings came in above analysts’ estimates, revenue missed expectations.

MGM Resorts beat expectations in the fourth quarter, but its shares dropped nearly 4%. The U.S. regional casino segment took a hit due to a strike in Detroit and labor costs, despite MGM’s China segment faring well.

Now, let’s talk about some companies that fared well in after-hours trading. Zillow Group’s shares rose 3% after its fourth-quarter financial update. The real estate marketplace posted adjusted earnings of 20 cents per share on revenue of $474 million, both beating analysts’ estimates.

IAC’s stock jumped 3.5% after the media company announced revenue of $1.06 billion in the fourth quarter, in line with consensus estimates. Adjusted earnings before interest, taxes, depreciation, and amortization also exceeded analysts’ estimates.

On the flip side, Upstart’s shares tumbled 22% after the online lender reported a fourth-quarter adjusted loss of 11 cents per share, narrower than analysts’ expectations. However, its revenue beat analysts’ estimates.

Similarly, Topgolf Callaway Brands fell around 2% after it guided toward weaker-than-expected revenue in the first quarter. The golf company forecasts first-quarter revenue between $1.14 billion and $1.16 billion, missing analysts’ expectations.

Airbnb also slipped 4% despite beating the Street’s expectations on revenue. In the fourth quarter, it reported $2.22 billion in revenue, while analysts predicted $2.17 billion.

Instacart’s grocery delivery stock inched up less than 1% after announcing a workforce reduction and reporting fourth-quarter revenue slightly below analysts’ expectations.

Lastly, DaVita’s health-care company rose 4% after reporting an earnings and revenue beat for the fourth quarter. Similarly, Angi, the home services platform, surged 7% in extended trading after posting a smaller-than-expected quarterly loss.

It’s been an eventful after-hours trading session, and we’re excited to see how these companies continue to perform in the coming days. Stay tuned for more updates from the world of finance and business!

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