Robinhood CEO and co-founder Vlad Tenev and co-founder Baiju Bhatt pose with Robinhood signs on Wall Street following the company’s IPO in New York City on July 29, 2021.
Andrew Kelly | Reuters
Check out the companies making headlines in extended trading.
Robin Hood – Shares of the trading platform fell 4.7% after the quarterly results were released. The company reported adjusted earnings of 3 cents per share for the second quarter, while analysts polled by Refinitiv had forecast a loss of 1 cent. According to StreetAccount, the company said monthly active users were 10.8 million, while analysts were expecting 11.2 million.
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Etsy – The e-commerce company fell nearly 6% in extended trading after Etsy issued guidance for third-quarter sales and the low-end of the range came in below analysts’ expectations. The company is forecasting revenue of between $610 million and $645 million, while analysts were forecasting $632 million, according to Refinitiv.
DoorDash – The food delivery giant gained 4.6% on Wednesday following the release of quarterly results. DoorDash revenue was $2.13 billion in the second quarter, while analysts were forecasting $2.06 billion per Refinitiv. However, the company posted a bigger-than-expected loss of 44 cents per share, while analysts had forecast a loss of 41 cents per share.
Qualcomm — Shares fell 7% after the company reported lower-than-expected sales for its fiscal third quarter. Qualcomm posted adjusted revenue of $8.44 billion, while analysts polled by Refinitiv were forecasting $8.5 billion. The guidance for the fourth quarter was also low.
Zillow – Shares of the online real estate company fell 2% after the company issued disappointing third-quarter guidance. Zillow is forecasting revenue of $458 million to $486 million, while analysts polled by FactSet are expecting $488.1 million in revenue.
Korvo — Shares rose 3.7% after an earnings decline. Qorvo posted earnings of 34 cents per share (excluding items) on sales of $651 million for the fiscal first quarter. Analysts polled by FactSet were expecting earnings of 15 cents a share and revenue of $640.3 million.
Clorox – Clorox stock rose 7% after beating earnings expectations. The company reported adjusted earnings per share of $1.67 on sales of $2.02 billion, while analysts polled by Refinitiv reported earnings of $1.18 per share on sales of 1.88 billion dollars expected.
tripadvisor — Tripadvisor shares gained 4%. The company reported revenue of $494 million in the second quarter, while analysts polled by Refinitiv were expecting $473 million.
MGM Resorts – The casino operator’s shares fell 5% even as the company reported higher profits and earnings in the second quarter. MGM reported adjusted earnings of 59 cents a share on sales of $3.94 billion. Analysts polled by Refinitiv called for an earnings share of 54 cents and $3.82 billion in revenue.
PayPal — PayPal shares plummeted nearly 6% after the company reported earnings that matched analysts’ forecasts. The payments company reported adjusted earnings of $1.16 per share, in line with expectations by analysts polled by Refinitiv. Revenue came in higher than expected: PayPal posted revenue of $7.29 billion versus analyst estimates of $7.27 billion.
Unity software — Shares of the software company rose about 5% after Unity beat analysts’ second-quarter revenue estimates. The company posted revenue of $533 million, while analysts polled by Refinitiv were expecting $518 million.
— CNBC’s Darla Mercado contributed to the coverage.