In the post-market trading session, several key companies experienced notable stock movements following their quarterly earnings reports:
Disney: Disney’s stock increased by around 5% after-hours, despite mixed quarterly results. The company reported adjusted earnings per share of $1.03, surpassing the expected 95 cents. However, revenue fell short at $22.33 billion, compared to the anticipated $22.5 billion. The announcement also revealed a 7% decline in Disney+ subscribers during the period and a planned increase in streaming prices.
Wynn Resorts: Wynn Resorts saw a 2.5% rise in its stock value due to better-than-expected second-quarter results. The company reported adjusted earnings of 91 cents per share on revenue of $1.6 billion, surpassing analyst estimates of 59 cents per share and $1.54 billion respectively.
AppLovin: Shares of AppLovin surged by 22% as a result of strong second-quarter results and optimistic third-quarter revenue guidance. The game developer anticipates revenue between $780 million and $800 million for the third quarter, exceeding the estimated $741 million. AppLovin reported earnings of 22 cents per share for Q2, exceeding the projected 7 cents.
Illumina: Illumina’s stock dropped over 6% following weaker-than-expected guidance. While the company outperformed expectations in Q2, it anticipates challenges in the second half due to a slow recovery in China and cautious customer purchasing. Full-year revenue growth is projected at 1%, significantly below the anticipated 7.1% increase.
The Trade Desk: Despite posting better-than-expected quarterly results and slightly stronger-than-anticipated guidance, shares of The Trade Desk fell by nearly 4% after-hours. The advertising technology company reported adjusted earnings of 28 cents per share on revenue of $464 million, surpassing analyst predictions of 26 cents per share and $455 million respectively.
Sonos: Sonos experienced an 11% increase in stock value in after-hours trading due to stronger-than-expected results. The wireless speaker manufacturer reported a narrower-than-expected loss of 18 cents per share on revenue of $373 million, exceeding analyst estimates of a 20 cent loss per share and $334 million in revenue. The company also raised its full-year EBITDA guidance.
These reactions illustrate the market’s immediate response to the companies’ performance against analyst expectations and their outlook for future growth.
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