Stocks with the biggest gains after hours: PARA, EXPE, ELF | Wilnesh News
Check out the companies making headlines in after-hours trading. Paramount Global — Shares of Paramount Global rose 5.7% after the media company beat second-quarter earnings estimates by a wide margin, reporting a profit of 54 cents a share, while analysts polled by LSEG expected a profit of 12 cents a share. However, Paramount’s revenue of $6.81 billion in the period fell short of estimates of $7.21 billion, marking the company’s largest deviation from analysts’ expectations since February 2020. It will cut 15% of its U.S. workforce as part of wider costs – cuts planned ahead of its merger with Skydance Media. Expedia — Expedia said it reported more challenging macroeconomic conditions and weaker travel demand in July, sending its shares down 2.2%. However, the online travel company beat expectations, reporting earnings of $3.51 per share on revenue of $3.56 billion, while analysts polled by LSEG expected earnings of $3.06 per share on revenue of $3.53 billion. Unity Software – The video game software development company beat Wall Street’s earnings and revenue forecasts, but its third-quarter revenue is expected to fall short of estimates, at between $415 and $420 million, compared with expectations of $458 million. The company’s shares fell 4.6%. Unity reported a second-quarter loss of 32 cents per share on revenue of $449 million, while analysts polled by London Stock Exchange Group (LSEG) expected a loss of 42 cents per share on revenue of $440 million. Take-Two Interactive Software — The video game maker reported second-quarter earnings of 5 cents a share, sending its shares up 4.8%, while analysts polled by FactSet expected earnings of 2 cents a share. However, Take-Two’s revenue for the quarter fell short of expectations, coming in at $1.22 billion versus estimates of $1.25 billion. Take-Two reiterated its adjusted full-year profit and bookings forecast. Elf Beauty — The beauty products retailer’s shares fell more than 5.8% after issuing cautious guidance, even as the company beat analysts’ expectations for quarterly revenue and profit, with sales jumping 50%. Elf reported adjusted earnings of $1.10 per share, topping analysts’ expectations of 84 cents, according to LSEG. Second-quarter revenue was $324 million, compared with expectations of $305 million. Doximity — Shares of Doximity soared 25% after the digital health platform earned 28 cents a share in its fiscal first quarter, excluding one-time items, topping Wall Street’s consensus of 22 cents, according to FactSet. Forward revenue and adjusted EBITDA guidance for the second quarter and full year also exceeded expectations. Capri Holdings — the parent company of Michael Kors — fell 4.2% in after-hours trading after disappointing quarterly results. The fashion company reported earnings of 4 cents per share on revenue of $1.07 billion, while analysts polled by LSEG expected earnings of 59 cents per share on revenue of $1.16 billion. Trade Desk — The ad-buying platform’s shares rose 5% after reporting second-quarter earnings of 39 cents a share, excluding items, according to FactSet data, beating analysts’ expectations of 36 cents a share. Revenue for the period was $585 million, also exceeding analysts’ forecasts of $578 million. Sweetgreen — The salad chain soared nearly 20%. Sweetgreen reported second-quarter revenue of $184.6 million, above the $181 million expected by analysts on the London Stock Exchange (LSEG). Full-year revenue guidance was for $670 million to $680 million, compared with the consensus estimate of $674 million. Insulet — Shares of Insulet fell 1% despite revenue of $488.5 million in the second quarter, missing analysts’ expectations of $463.5 million, according to LSEG. Akamai Technologies — Shares of Akamai Technologies rose 3% after the cloud company’s second-quarter results beat analysts’ expectations. Akamai reported adjusted earnings of $1.58 per share on revenue of $980 million, while Wall Street expected adjusted earnings of $1.53 per share on revenue of $977 million, according to LSEG. The company also raised its full-year adjusted profit guidance. DXC Technology — The northern Virginia-based IT services provider’s shares rose 12% in after-hours trading. FactSet said first-quarter earnings, excluding items, were 74 cents per share, beating analysts’ expectations of 58 cents, while revenue of $3.24 billion topped expectations of $3.14 billion. Earnings per share guidance for the current quarter and full year were also above Wall Street forecasts. —Darla Mercado and Scott Schnipper contributed reporting.
