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.
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.
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.
Source: CNBC
