Stocks making the biggest moves after hours: PYPL, HOOD, QCOM, CLX
Robinhood CEO and co-founder Vlad Tenev and co-founder Baiju Bhatt pose with Robinhood signage on Wall Street after the company’s initial public offering in New York City, July 29, 2021.
Andrew Kelly | Reuters
Check out the companies making headlines in extended trading.
Robinhood — Shares of the trading platform slipped 4.7% after it reported quarterly results. The firm reported adjusted earnings of 3 cents per share in the second quarter, while analysts polled by Refinitiv forecast a loss of 1 cent. The company said monthly active users came in at 10.8 million, while analysts called for 11.2 million, according to StreetAccount.
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Etsy — The e-commerce company fell almost 6% in extended trading after Etsy gave guidance on third-quarter revenue and the lower end of the range was below what analysts anticipated. The company is calling for revenue ranging between $610 million and $645 million, while analysts called for $632 million, per Refinitiv.
DoorDash — The food delivery giant added 4.6% Wednesday after posting quarterly results. DoorDash’s revenue for the second quarter was $2.13 billion, while analysts called for $2.06 billion, per Refinitiv. However, the company posted a wider-than-expected loss of 44 cents a share, while analysts called for a loss of 41 cents per share.
Qualcomm — Shares declined 7% after the company reported lower-than-expected revenue for its third fiscal quarter. Qualcomm posted $8.44 billion in adjusted revenue, while analysts polled by Refinitiv forecast $8.5 billion. Guidance for the fourth quarter was also light.
Zillow — Stock in the online real estate company pulled back 2% after the company issued disappointing guidance for the third quarter. Zillow forecasts revenue of $458 million to $486 million, while analysts polled by FactSet are calling for revenue of $488.1 million.
Qorvo — Shares climbed 3.7% after an earnings beat. Qorvo posted fiscal first-quarter earnings of 34 cents per share, excluding items, on revenue of $651 million. Analysts polled by FactSet called for 15 cents per share in earnings and revenue of $640.3 million.
Clorox — Clorox stock ticked up 7% after flying past earnings expectations. The company reported adjusted earnings of $1.67 per share on $2.02 billion in revenue, while analysts polled by Refinitiv expected earnings of $1.18 per share and revenue of $1.88 billion.
Tripadvisor — Tripadvisor shares gained 4%. The company reported revenue of $494 million in the second quarter, while analysts polled by Refinitiv anticipated $473 million.
MGM Resorts — Shares of the casino operator dropped 5%, even as the company posted beats on the top and bottom lines in the second quarter. MGM reported adjusted earnings of 59 cents a share on $3.94 billion in revenue. Analysts polled by Refinitiv called for 54 cents a share in earnings and revenue of $3.82 billion.
PayPal — PayPal shares tumbled nearly 6% after the company posted earnings that were in line with analysts’ predictions. The payments company reported adjusted earnings of $1.16 per share, the same expected by analysts polled by Refinitiv. Revenue came in higher than anticipated, with PayPal posting $7.29 billion, versus analysts’ estimates of $7.27 billion.
Unity Software — Shares of the software company popped about 5% after Unity trounced analysts’ estimates for revenue in the second quarter. The company posted $533 million in revenue, while analysts polled by Refinitiv sought $518 million.
— CNBC’s Darla Mercado contributed reporting.
