Check out the companies making headlines in after-hours trading. Reddit — The social media stock popped nearly 18% on the back of a better-than-expected quarterly earnings in its first report since the company’s initial public offering in March. Reddit saw a faster rate of advertising revenue growth than its top competitors. Reddit posted $243 million in revenue, while analysts polled by FactSet forecast $212.8 million. Reddit’s loss per share of $8.19 for the period may not compare with the loss of $8.71 expected by analysts surveyed by LSEG. Lyft — The ride-share company advanced more than 3% after first-quarter sales and earnings beat analysts’ estimates. Lyft reported adjusted earnings of 15 cents per share on $1.28 billion in revenue. Analysts polled by LSEG forecast earnings of 3 cents per share on $1.16 billion in revenue. Rivian Automotive — The electric vehicle manufacturer lost more than 3%. Rivian said it lost $38,784 per vehicle delivered in the first quarter, but following a retooling upgrade, the company expects “significant improvement in the material and conversion cost of its vehicles and remains confident in its path to achieving modest gross profit in the fourth quarter of this year.” Rivian posted revenue of $1.2 billion, beating analysts’ estimates of $1.16 billion, according to LSEG. Wynn Resorts — The resort and casino stock added 2.3% on the back of better-than-expected first-quarter earnings. Wynn posted $1.59 in earnings per share, excluding one-time items, on revenue of $1.86 billion, while analysts polled by LSEG forecast $1.27 in earnings per share and $1.79 billion in revenue. Electronic Arts — The video game company slid 4% in extended trading after fourth-quarter revenue of $1.67 billion on a bookings basis trailed analysts’ consensus estimate of $1.77 billion, according to LSEG. Earnings per share came in at $1.52, although that figure is not comparable to the estimate provided by analysts. Arista Networks — The cloud-networking company inched higher by roughly 1%. Arista Networks earned $1.99 per share on revenue of $1.57 billion in the first quarter, while analysts polled by LSEG anticipated earnings of $1.74 per share and revenue of $1.55 billion. Revenue guidance for the current quarter ranged between $1.62 billion and $1.65 billion, while analysts called for $1.62 billion. Sonos — The audio product maker tumbled 9% after reporting a wider loss than Wall Street expected. Sonos
CNBC
The full article is available here. This article was published at CNBC Finance.
Comments are closed for this article!