Several companies made headlines in extended trading, with Yelp’s stock sliding 6% after the restaurant review site posted light second-quarter revenue guidance. Despite this, Yelp reported first-quarter earnings of 20 cents per share, surpassing analysts’ estimates. Sweetgreen saw a 5% increase in its stock after reporting first-quarter revenue of $158 million, topping expectations. Akamai Technologies, on the other hand, saw its stock drop nearly 9% on weak guidance for the second quarter, with adjusted earnings projected to be lower than expected.
Array Technologies, a solar tracker tech provider, saw its stock pop 8% after reporting first-quarter adjusted earnings of 6 cents per share on revenue of $153.4 million, both above analyst estimates. Dropbox also beat expectations on the top and bottom lines, causing its shares to rise 2.5%. The cloud storage company posted adjusted earnings of 58 cents per share on revenue of $631 million, higher than expected. Insulet, a medical device company, reported first-quarter earnings and revenue that topped expectations, with earnings of 73 cents per share and revenue of $441.7 million, both exceeding estimates.
Unity Software, a video game software developer, saw its stock drop 2% after posting a wider first-quarter loss of 75 cents per share compared to analysts’ expectations. However, revenue of $460 million surpassed the consensus estimate. Gen Digital, a cybersecurity software company that owns LifeLock and Norton, saw its stock jump about 5% after reporting fiscal-fourth quarter adjusted earnings of 53 cents and revenue of $967 million, both showing increases from the previous year. Overall, the market reacted differently to each company’s earnings reports, with some stocks rising and others falling.
