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Sweetgreen Rises 22% on Raised Forecasts, Doximity Jumps 30%, Rocket Lab Soars 14% on 71% Revenue Growth, and More

Fernanda T
Latest News
August 09 2024 5:48AM

Sweetgreen (NYSE:SG) – The healthy restaurant chain reported second-quarter revenue of $184.6 million, up 21% year-over-year, above the $180.8 million expected. The company reduced its net loss to $14.5 million and raised its annual revenue forecast to $670-680 million. Same-store sales are expected to grow 5% to 7%. Shares rose 22.2% in pre-market trading.

Doximity (NYSE:DOCS) – The social network for healthcare professionals reported adjusted earnings of $0.28 per share and revenue of $126.7 million, beating forecasts of $0.22 and $119.89 million. The company projects revenue of $126.5 to $127.5 million for the second quarter and $514 to $523 million for fiscal 2025, above Wall Street estimates. Shares rose 29.9% in pre-market trading.

Rocket Lab USA (NASDAQ:RKLB) – The space launch and satellite company reduced its quarterly loss to $41.6 million (8 cents per share), in line with expectations, compared to a loss of $45.9 million a year earlier. Revenue grew 71% to $106.3 million, beating the $105.5 million forecast. The company expects revenue of $100-105 million and an adjusted EBITDA loss of $31-33 million in the next quarter. Shares rose 14.3% in pre-market trading.

Paramount Global (NASDAQ:PARA) – The media and entertainment company reported earnings of 54 cents per share in the second quarter, beating expectations of 12 cents per share. However, revenue of $6.81 billion fell short of the $7.21 billion expected, the largest miss since February 2020. The company also announced a 15% workforce reduction in the U.S. ahead of its merger with Skydance Media.

News Corp (NASDAQ:NWS) – The global media and information conglomerate beat expectations in the fourth quarter, with revenue of $2.58 billion, above the forecast of $2.49 billion, and adjusted earnings per share of 17 cents, surpassing the 16-cent estimate. The performance was driven by Dow Jones, which grew 4%, and the book publishing and real estate listing units, whose revenues increased 15% and 37%, respectively. News Corp is considering selling Foxtel, its cable TV and streaming unit, following interest from potential buyers. The decision reflects Foxtel’s difficulty competing with streaming rivals like Netflix and Disney. The sale could help News Corp focus on its print media and real estate listing businesses.

Unity Software (NYSE:U) – The interactive games and experiences company reported a second-quarter loss of 32 cents per share on revenue of $449 million, beating estimates of a 42-cent per share loss and $440 million in revenue. Adjusted EBITDA of $113 million exceeded last year’s $88 million, while FactSet analysts expected $83 million. Unity expects revenue of $1.68 billion to $1.69 billion for the year, below the previous forecast of $1.76 billion to $1.80 billion. Shares fell 1% in pre-market trading.

Take-Two Interactive Software (NASDAQ:TTWO) – The popular video game developer reported earnings of 5 cents per share, beating the estimate of 2 cents. However, quarterly revenue of $1.22 billion fell short of the $1.25 billion expected. Take-Two expects second-quarter revenue between $1.29 billion and $1.34 billion, with a loss of $2.15 to $2.30 per share. For the year, it expects revenue between $5.57 billion and $5.67 billion, with a loss of $3.95 to $4.33 per share. Shares rose 5.2% in pre-market trading.

SoundHoundAI (NASDAQ:SOUN) – The voice recognition AI technology company reported a second-quarter loss of $0.04 per share, better than the $0.09 estimate. Revenue increased 53.8% year-over-year to $13.46 million, above the forecast of $13.095 million. The company projects 2024 revenue to exceed $80 million, surpassing expectations of $70.294 million. Shares fell 2.5% in pre-market trading.

Akamai Technologies (NASDAQ:AKAM) – The online content security and acceleration company reported adjusted earnings of $1.58 per share in the second quarter, above the $1.53 forecast. Revenue was $980 million, exceeding the $977.62 million estimate. Security revenue grew 15%, computing 23%, while delivery fell 13%. Akamai now expects annual earnings of $6.34-6.47 per share and revenue between $3.97-4.01 billion.

DXC Technology (NYSE:DXC) – The IT services and business consulting company posted first fiscal quarter earnings of 74 cents per share, beating the estimate of 58 cents. Revenue of $3.24 billion also exceeded the $3.14 billion expectation. DXC raised its full-year adjusted earnings forecast to $2.75-3.00 per share, above expectations of $2.71. Annual revenue guidance rose to $12.74-13.02 billion. For the current quarter, the company expects revenue of $3.19-3.22 billion and adjusted earnings per share of $0.70-0.75, both above Wall Street estimates.

Trade Desk (NASDAQ:TTD) – The programmatic advertising platform reported earnings of 39 cents per share, excluding items, beating expectations of 36 cents. Revenue for the quarter was $585 million, also beating the $578 million forecast. Shares rose 7.1% in pre-market trading.

Expedia (NASDAQ:EXPE) – The online travel booking platform reported earnings per share of $3.51 on revenue of $3.56 billion, while analysts expected $3.06 per share on revenue of $3.53 billion. However, the company indicated a more challenging macroeconomic environment and a decline in travel demand in July.

E.l.f. Beauty (NYSE:ELF) – The affordable cosmetics company reported adjusted earnings per share of $1.10, above expectations of 84 cents, and revenue of $324 million, exceeding estimates of $305 million. Shares fell 9% in pre-market trading.

Capri Holdings (NYSE:CPRI) – The luxury fashion conglomerate disappointed investors by posting earnings of 4 cents per share on revenue of $1.07 billion, while analysts expected 59 cents per share on revenue of $1.16 billion.

Insulet (NASDAQ:PODD) – The diabetes management technology company reported mixed second-quarter results, with adjusted earnings of $0.55 per share, below the $0.56 estimate, but revenue of $488.5 million, beating the $460.4 million forecast. Omnipod revenue rose 26.3%, driven by growth in the U.S. and internationally. The company raised its annual revenue growth forecast to 16-19%, from 14-18% previously.

Ginkgo Bioworks (NYSE:DNA) – The biotechnology company reported a second-quarter loss of $0.11 per share, worse than the $0.08 estimate. Revenue was $56 million, beating the $43.14 million forecast. The company projects revenue of $170-190 million in the third quarter and maintains its annual expectation of $120-140 million in cell engineering and at least $50 million in biosafety.

B2Gold Corp (AMEX:BTG) – The global gold miner produced 212,508 ounces of gold in the second quarter of 2024 but faced equipment issues at the Fekola Mine, reducing production. Operating costs were $839 per ounce and total sustaining costs, $1,267 per ounce. The company reported a net loss of $0.02 per share, but adjusted earnings were $0.06 per share. B2Gold projects 800,000-870,000 ounces of production in 2024. Shares fell 2.2% in pre-market trading.

Array Technologies (NASDAQ:ARRY) – The solar tracking systems manufacturer beat expectations in the second quarter, reporting earnings of 20 cents per share, above the estimate of 11 cents, and sales of $255.766 million, beating the forecast of $231.615 million. However, sales fell 49.63% year-over-year. The company lowered its annual profit forecast to 64-74 cents per share and sales to $900 million to $1 billion. Shares fell 11.1% in pre-market trading.

CleanSpark (NASDAQ:CLSK) – The energy solutions and Bitcoin mining company postponed the release of its third-quarter financial results, which were scheduled for Thursday. The company was expected to report a loss of 4 cents per share on revenue of $110.881 million. Shares rose 10.4% on Thursday due to Bitcoin’s recovery, but they are still down 26% over the last three months. Shares fell 1.9% in pre-market trading.

CarGurus (NASDAQ:CARG) – The online car sales platform reported adjusted earnings of 41 cents per share in the second quarter, beating the estimate of 34 cents. Although revenue fell 9% to $218.7 million, it still beat the forecast of $215.8 million. For the next quarter, CarGurus projects revenue between $212 and $232 million and adjusted earnings of 38 to 44 cents per share.

Petrobras (NYSE:PBR) – Petrobras reported a net loss of $470 million in the second quarter of 2024, impacted by an extraordinary tax charge and the devaluation of the real. Recurring net income fell 46.5% to $2.83 billion, and adjusted EBITDA fell 12.3% to $8.96 billion. The company lowered its investment forecast for the year to $13.5-14.5 billion. Despite this, it approved $2.45 billion in dividends. Net revenue grew 7.4%, reaching $22.04 billion. Shares fell 2.1% in pre-market trading.