Several companies made headlines in extended trading for various reasons. DoorDash saw its shares tumble 13% after its first-quarter report revealed a wider-than-expected loss. Despite beating revenue expectations, analysts were disappointed with the company’s performance. Carvana, on the other hand, saw its stock soar 30% after reporting revenue for the first quarter that surpassed Street expectations. This strong performance was well above the consensus forecast from analysts, leading to a surge in the company’s stock price.
Freshworks, a software development company, tumbled 19% despite beating expectations on both revenue and earnings in the first quarter. The California-based firm offered soft guidance for revenue in the current quarter and full year, which led to a decline in its stock price. Etsy, an online marketplace, slid about 13% after reporting adjusted earnings slightly below expectations. The company’s revenue, however, was in line with analysts’ forecasts. Similarly, eBay dropped 4% after providing current-quarter revenue guidance that missed expectations. This overshadowed stronger-than-anticipated results for the previous quarter.
Qualcomm, a chipmaker, saw its shares rise more than 4% after hours following its most recent earnings report. The company posted adjusted earnings per share that topped analysts’ estimates, and its revenue forecast for the current quarter was higher than expected. Schrodinger, a computational platform, saw its stock slide 8% after reporting a wider-than-expected loss in the first quarter. The company’s revenue also fell short of analysts’ expectations, leading to a decline in its stock price.
Qorvo, a semiconductor company, experienced a decline of 11% due to weak guidance for the fiscal first quarter. The company’s earnings forecast was significantly lower than analysts’ expectations, which led to a sell-off of its stock. Envista, a maker of dental products, sank 3.8% after reporting adjusted earnings that missed analysts’ consensus estimate. Similarly, vehicle wholesaler Openlane dropped almost 16% after its first-quarter earnings fell short of expectations. C.H. Robinson, a freight logistics and trucking provider, surged 13% in reaction to strong first-quarter earnings that beat analysts’ consensus estimate, leading to a positive reaction in the stock price.
Overall, these companies experienced a range of reactions in extended trading based on their first-quarter earnings reports and guidance for the future. While some companies outperformed expectations and saw their stock prices rise, others fell short and faced declines in their stock prices. Investors will continue to monitor these companies as they navigate the challenges and opportunities in their respective industries.
