Several companies made headlines in after-hours trading recently. Reddit, the social media stock, saw an 18% increase in its stock price following a better-than-expected quarterly earnings report in its first report since going public in March. Lyft, the ride-share company, also saw growth after reporting earnings and revenue that beat analysts’ estimates. Rivian Automotive, however, lost over 3% despite beating revenue estimates but reported a high loss per vehicle delivered in the first quarter.
Wynn Resorts, the resort and casino stock, saw a 2.3% increase after reporting earnings exceeding analyst expectations in the first quarter. Electronic Arts, the video game company, experienced a 4% drop in extended trading following fourth-quarter revenue that fell short of analysts’ estimates. Arista Networks, the cloud-networking company, had a slight increase after reporting earnings and revenue higher than anticipated in the first quarter.
On the other hand, Sonos, the audio product maker, saw a 9% drop after reporting a wider loss than expected by Wall Street for the second fiscal quarter. Toast, a cloud-based restaurant management software company, saw a 2% increase in after-hours trading following its earnings report which showed higher revenue than analysts’ estimates. Twilio, a software company, saw its shares drop over 5% after offering disappointing second-quarter revenue guidance despite beating first-quarter earnings and revenue estimates.
Cirrus Logic, a maker of analog and audio DSP integrated circuits, climbed 11% postmarket after exceeding Wall Street’s highest estimate for fiscal fourth-quarter earnings. Myriad Genetics, a molecular diagnostic test maker, jumped more than 6% after reporting first-quarter revenue and EBITDA that surpassed analysts’ expectations. The company also saw market share gains in hereditary cancer and prenatal testing during the quarter.
Overall, the companies making headlines in after-hours trading experienced a mix of positive and negative reactions from investors. Reddit and Lyft saw stock price increases after beating earnings estimates, while companies like Rivian Automotive and Electronic Arts faced challenges despite beating revenue estimates. It is clear that the performance of these companies in after-hours trading can be influenced by a variety of factors, including earnings reports, revenue forecasts, and market expectations.
