Anika Begay
Check out the companies making headlines in after-hours trading. Paramount Global — The media company jumped 5.7% after posting a huge jump in second-quarter earnings, reporting earnings of 54 cents a share while analysts polled by LSEG were expecting 12 cents a share. Paramount’s revenue of $6.81 billion for the period fell short of the $7.21 billion estimated, however, making this the company’s biggest miss from analyst estimates since February 2020. Paramount also announced it will cut 15% of its U.S. workforce as part of a broader cost-cutting plan ahead of its merger with Skydance Media. Expedia — Shares slid 2.2% after Expedia said it saw a tougher macroeconomic environment and softening travel demand in July. However, the online travel company beat expectations, posting earnings of $3.51 per share on revenue of $3.56 billion, while analysts polled by LSEG had expected earnings of $3.06 per share on revenue of $3.53 billion. Unity Software: Shares fell 4.6% after the video game software developer beat Wall Street expectations for earnings and revenue, but forecast third-quarter revenue that fell short of estimates, with a range of $415 million to $420 million versus the $458 million forecast. Unity reported a loss of 32 cents per share on $449 million in second-quarter revenue, while analysts polled by LSEG had expected a loss of 42 cents per share on revenue of $440 million. Take-Two Interactive Software — The video game maker rose 4.8% after reporting second-quarter earnings of 5 cents a share, while analysts polled by FactSet were expecting 2 cents a share. Take-Two missed revenue for the quarter, however, reporting $1.22 billion while estimates had called for $1.25 billion. Take-Two reiterated its full-year adjusted earnings and bookings expectations. Elf Beauty — The beauty retailer slid more than 5.8% after issuing cautious guidance, though the company beat analysts’ quarterly estimates on the top and bottom lines with sales up 50%. Elf reported adjusted earnings per share of $1.10, beating analysts’ expectations of 84 cents, according to LSEG. Revenue was $324 million for the second quarter versus estimates of $305 million. Doximity — The digital health platform rose 25% after fiscal first-quarter earnings excluding one-time items hit 28 cents a share, above the Wall Street consensus of 22 cents, according to FactSet. Forward revenue and adjusted EBITDA guidance for the second quarter and full year also topped estimates. Capri Holdings — The parent company of Michael Kors fell 4.2% in after-hours trading, dragged down by disappointing quarterly results. The fashion company reported earnings of 4 cents a share on revenue of $1.07 billion, while analysts polled by LSEG expected earnings of 59 cents a share on revenue of $1.16 billion. Trade Desk — The ad-buying platform advanced 5% after reporting second-quarter earnings of 39 cents a share, excluding items, beating analysts’ expectations of 36 cents a share, according to FactSet. Revenue was $585 million for the period, also beating analysts’ forecasts of $578 million. Sweetgreen — The salad chain rose nearly 20%. Sweetgreen reported second-quarter revenue of $184.6 million, beating analysts’ estimates of $181 million, according to LSEG. Full-year revenue guidance was $670 million to $680 million, compared to consensus estimates of $674 million. Insulet — The insulin delivery system maker fell 1%, even though Insulet’s second-quarter revenue was $488.5 million, compared to $463.5 million analysts had expected, according to LSEG. Akamai Technologies — The cloud company added 3% after its second-quarter results topped analysts’ estimates. Akamai reported adjusted earnings of $1.58 per share on revenue of $980 million, while Wall Street was calling for $1.53 per share in earnings and $977 million in revenue, according to LSEG. The company also raised its full-year guidance for adjusted earnings. DXC Technology: The Northern Virginia-based IT services provider rose 12% after hours. Fiscal first-quarter earnings per share (EPS), excluding items, of 74 cents beat analysts’ estimate of 58 cents, while revenue of $3.24 billion topped expectations of $3.14 billion, FactSet said. EPS guidance for the current quarter and full year also came in higher than Wall Street expected. — Darla Mercado and Scott Schnipper contributed to this report.
