Several companies made headlines in extended trading, with Airbnb incurring an 8% drop in its shares after issuing disappointing forward guidance. The hoteling company predicted second-quarter revenue to fall between $2.68 billion and $2.74 billion, below analysts’ expectations of $2.74 billion. However, Airbnb managed to beat expectations for the first quarter in terms of both top and bottom lines. On the other hand, Robinhood experienced a 6% increase in its stock after surpassing Wall Street estimates with earnings of 18 cents per share and revenue of $618 million for the first quarter, compared to analysts’ predictions of 6 cents per share and $549 million in revenue.
Klaviyo, a marketing automation company, saw its shares rise by 7% after issuing optimistic revenue guidance for the second quarter. The company expects revenue in the current quarter to reach $211 million to $213 million, exceeding analysts’ expectations of $210 million. However, Arm Holdings, a chip company, witnessed a 6% decline as it posted full-year revenue guidance of $3.8 billion to $4.1 billion, falling short of Wall Street’s anticipated $3.99 billion in revenue. Equinix, a data center real estate investment trust, on the other hand, climbed more than 11% after reporting adjusted earnings before interest, taxes, depreciation, and amortization of $992 million for the first quarter, surpassing analysts’ estimates.
AppLovin, a mobile tech company, saw a 10% surge in its stock after reporting first-quarter earnings of 67 cents per share and revenue of $1.06 billion, beating analysts’ expectations of 57 cents per share and $974 million in revenue. However, SolarEdge, a solar energy company, experienced a nearly 7% slide in its shares after posting a wider-than-expected loss of $1.90 per share for the first quarter, compared to analysts’ predictions of a loss of $1.57 per share. The company’s second-quarter revenue guidance was also weak, ranging between $250 million and $280 million, below analysts’ estimates of $306 million.
