Check out the companies making headlines in extended trading.
Disney — Shares fell 4.7% after the company reported mixed fiscal second quarter results. Earnings came in line with estimates, while revenue slightly beat analysts’ estimates, according to Refinitiv data. While the company said its losses from its streaming segment narrowed, it shed 4 million Disney+ subscribers.
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Beyond Meat — The alternative meat manufacturer’s shares rose 8.5% after Beyond Meat posted better-than-expected results for the first quarter. Beyond Meat reported a loss of 92 cents per share and $92.2 million in revenue. Analysts had anticipated a loss of $1.01 per share on revenue of $90.8 million, according to Refinitiv.
Robinhood — Shares of the retail brokerage rose 4% in extended trading after Robinhood reported $441 million in revenue for the first quarter, above the $425 million predicted by analysts, according to Refinitiv. Transaction revenues for equities and options were both up from the fourth quarter, and monthly active users rose slightly to 11.8 million.
Unity Software – Unity Software shares popped 12% after the company beat revenue estimates for the recent quarter, according to Refinitiv. Unity also shared stronger-than-expected guidance for the current quarter, saying it expects revenue to range between $510 million and $520 million.
Groupon — Shares dropped 4% after the coupon company posted first-quarter revenue that came in below expectations, according to Refinitiv. Groupon reported revenue of $121.6 million, while the Street called for $134.9 million.
Sonos — The home sound system’s shares fell 18%. Sonos posted a loss of 24 cents per share, while analysts polled by Refinitiv called for a loss of 18 cents per share. Sonos CEO Patrick Spence announced the company is reducing its guidance for the second half of the 2023 fiscal year amid “softening consumer demand and channel partner inventory tightening.”
— CNBC’s Jesse Pound and Samantha Subin contributed reporting.
Source: Finance - cnbc.com
