US Markets
Wednesday, August 9th, 2023 2:42 pm EDT
Check out the companies making headlines after the bell.
Disney — The entertainment giant added about 5% in extended trading after posting mixed quarterly results. Disney reported adjusted earnings of $1.03 a share, versus the 95 cents expected by analysts, per Refinitiv. Revenue came in at $22.33 billion, behind the $22.5 billion expected. The company also posted a roughly 7% decrease in Disney+ subscribers during the period and announced a hike in streaming prices.
Wynn Resorts — The casino stock rose 2.5% on second-quarter results that topped expectations on the top and bottom lines. Wynn Resorts reported adjusted earnings of 91 cents per share on revenue of $1.6 billion. That came in ahead of the 59 cents and $1.54 billion expected by analysts, per Refinitiv.
AppLovin — AppLovin shares surged 22% on strong second-quarter results and optimistic third-quarter revenue guidance. The game developer said it expects $780 million to $800 million in revenue for the third quarter, ahead of the $741 million expected by analysts. The company posted earnings of 22 cents per share for the second quarter, ahead of the 7 cents expected by analysts, according to Refinitiv.
Illumina — The DNA sequencing company shed more than 6% after the bell on weaker-than-expected guidance. Illumina topped Wall Street’s expectations for the second quarter, but said it anticipates some weakness in the second half, due to a protracted recovery in China and more cautiousness in purchasing from customers. The company expects full-year revenue to rise 1% year over year, versus the 7.1% uptick analysts expected, per Refinitiv.
The Trade Desk — Shares lost nearly 4% after the bell despite The Trade Desk posting better-than-expected quarterly results and slightly strong-than-anticipated guidance for the current period. The advertising technology company reported adjusted earnings of 28 cents per share on revenue of $464 million. That topped the 26 cents per share on $455 million in revenue expected, according to Refinitiv.
Sonos — The wireless speaker maker’s stock jumped 11% in extended trading on stronger-than-expected results. Sonos reported a smaller-than-expected loss of 18 cents per share on revenue totaling $373 million. Analysts surveyed by Refinitiv had anticipated a 20 cent loss per share on revenue of $334 million. The company also lifted its full-year EBITDA guidance.
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