Reddit (NYSE:RDDT) – Shares of the social media
company rose 15% in pre-market trading due to better-than-expected
quarterly earnings in its first report since the company went
public in March. Reddit generated revenue of $243 million,
surpassing the $212.8 million expected by FactSet analysts. The
loss per share was $8.19, which may not be directly comparable to
the loss of $8.71 expected by analysts surveyed by LSEG.
Upstart Holdings (NASDAQ:UPST) – Upstart shares
fell -12.1% in pre-market even after exceeding expectations with
its recent earnings, recording a net loss of $64.6 million in the
first quarter, or 74 cents per share, better than the $129.3
million, or $1.58 per share, in the same period last year. Revenue
rose to $128 million. However, the forecast for the second quarter
was below expectations.
Twilio (NYSE:TWLO) – Twilio shares fell 7.5% in
pre-market although the software company exceeded first-quarter
earnings expectations by 20 cents per share and also exceeded
revenue estimates. The second-quarter revenue projection
disappointed, with Twilio predicting a revenue range between $1.05
billion and $1.06 billion, below the LSEG average estimate of $1.08
billion.
Lyft (NASDAQ:LYFT) – Lyft shares rose 6% in
pre-market after recording an adjusted profit of 15 cents per
share, with revenue of $1.28 billion in the first quarter. Analysts
surveyed by LSEG expected a profit of 3 cents per share, with
revenue of $1.16 billion.
Nikola (NASDAQ:NKLA) – Nikola fell below
first-quarter revenue expectations, recording $7.5 million compared
to estimates of $15.8 million. The company delivered 75 hydrogen
fuel cell trucks and delayed the delivery of its reworked battery
trucks to the end of 2024. Truck revenue fell 26%, to $7.4 million.
The net loss was $147.7 million, and cash at the end of the quarter
was $345.6 million.
Rivian Automotive (NASDAQ:RIVN) – Rivian shares
plummeted 4.4% in pre-market after reporting a loss per share of
$1.48 and revenue of $1.2 billion in the first quarter. Analysts
surveyed by FactSet expected a loss per share of $1.15 with sales
slightly below $1.2 billion. During the quarter, Rivian
manufactured 13,980 units. Its EBITDA was minus $798 million,
falling short of Wall Street’s expectation of minus $843 million.
Despite this, with an update in its manufacturing processes, the
company projects a significant reduction in material and vehicle
production costs, maintaining confidence in its route to achieve a
modest gross profit in the last quarter of this year.
Ferrari (NYSE:RACE) – Ferrari’s core profits
increased 13% in the first quarter, driven by sales of luxury and
custom models. Ferrari’s EBITDA reached €605 million, in line with
analysts’ expectations. The forecast for adjusted EBITDA for the
full year was reaffirmed at at least €2.45 billion in 2024. CEO
Benedetto Vigna emphasized a strategy of value over volume and
future investments.
Toyota Motor (NYSE:TM) – Toyota Motor forecast
a 20% drop in profits for the current fiscal year. Despite this, it
recorded a 78% increase in operating profit in the last quarter,
totaling about $34.5 billion for the year, a record for Japanese
companies. It projected an operating profit of $27.7 billion by
March 2025. In addition, Toyota said it plans to invest
approximately $10.95 billion this year in areas such as artificial
intelligence and software.
Wynn Resorts (NASDAQ:WYNN) – Wynn Resorts
shares increased 3.1% after the hotel and casino operator reported
a profit per share of $1.59, excluding one-time items, with revenue
of $1.86 billion. This exceeded the expectations of analysts
surveyed by LSEG, who projected a profit per share of $1.27 and
revenue of $1.79 billion.
Electronic Arts (NASDAQ:EA) – Electronic Arts
shares fell 4% in pre-market, due to fourth-quarter revenue of
$1.67 billion, based on bookings, below the consensus estimate of
analysts surveyed by LSEG of $1.77 billion. The earnings per share
were $1.52, not comparable to the estimate provided by
analysts.
Sempra Energy (NYSE:SRE) – In the first
quarter, Sempra Energy’s total revenue was $3.64 billion, compared
to $6.56 billion the previous year. Net profit fell to $801
million, or $1.26 per share, in the quarter ended March 31,
compared to $969 million, or $1.53 per share, a year earlier. The
company expects earnings per share between $4.52 and $4.82 for
2024, compared to $4.79 per share in 2023.
Duke Energy (NYSE:DUK) – Duke Energy exceeded
first-quarter earnings estimates with higher electricity rates.
Earnings per share were $1.44, an increase of $0.24 from the
previous year. The revenue from the electric utilities segment
jumped 29%, to $1.02 billion. Its customer base grew 2.4% in the
Carolinas and Florida. Additionally, the company reaffirmed its
full-year adjusted earnings forecast of $5.85 to $6.10 per
share.
Match Group (NASDAQ:MTCH) – In the first
quarter, Match Group’s revenue grew 9%, to $859.6 million,
surpassing the estimates of $855.5 million. Earnings per share in
the first quarter were 44 cents, compared to the estimate of 40
cents per share. However, the parent company of Tinder forecasted
second-quarter revenue between $850 million and $860 million, below
the average analyst estimate of $882 million. The company expects
annual revenue growth near the lower end of the previous range of
6% to 9%.
Arista Networks (NYSE:ANET) – Arista Networks
shares rose 7% in pre-market after announcing earnings of $1.99 per
share and revenue of $1.57 billion in the first quarter, surpassing
the forecasts of analysts surveyed by LSEG, who estimated earnings
of $1.74 per share and revenue of $1.55 billion. For the current
quarter, the company projected revenue ranging between $1.62
billion and $1.65 billion, while analysts expected $1.62
billion.
Cirrus Logic (NASDAQ:CRUS) – Cirrus Logic
shares rose 11.9% in pre-market after fourth fiscal quarter
earnings, excluding items, reached $1.24, exceeding the estimate of
$0.67 per share. Cirrus recorded revenue of $371.83 million. The
revenue projection for the first quarter, ranging from $290 million
to $350 million, also exceeded analysts’ expectations.
Kyndryl Holdings (NYSE:KD) – Kyndryl shares
rose 13.1% in pre-market after fourth fiscal quarter revenue was
$3.85 billion, surpassing expectations of $3.76 billion. Adjusted
EBITDA was $566 million, above the estimates of $541 million, and
the company expects to return to positive revenue growth in the
first quarter of 2025, surpassing Wall Street projections.
GlobalFoundries (NASDAQ:GFS) – In the first
quarter, GlobalFoundries’ revenue was $1.55 billion, surpassing
expectations, with an adjusted earnings per share of 31 cents. The
company projected second-quarter revenue above estimates,
reflecting the recovery in semiconductor demand. Revenue is
expected to be between $1.59 billion and $1.64 billion, and
adjusted earnings per share between 24 and 34 cents, both
surpassing LSEG estimates.
Astera Labs (NASDAQ:ALAB) – Shares of the newly
opened semiconductor company Astera Labs fell 6.8% in pre-market,
after reporting a net loss in the first quarter of $93 million, or
$1.77 per share, with revenue of $65.3 million, surpassing
expectations. The company forecasts 10% to 12% revenue growth for
the second quarter.
Coupang (NYSE:CPNG) – Coupang shares fell 8.2%
in pre-market in response to first-quarter results, with adjusted
EBITDA slightly below estimates, at $281 million, while net profit
fell 95%. Revenue of $7.1 billion exceeded expectations. The
company, seeking growth in new markets, continues to invest
billions of dollars to expand fast and free delivery across Korea,
including in remote regions.
IAC Inc (NASDAQ:IAC) – IAC presented mixed
financial results for the March quarter, highlighted by the first
quarterly revenue growth at the Dotdash Meredith editorial unit
since the acquisition in 2021. Net profit was $45 million, or $0.51
per share, beating the forecast of a $1.32 per share loss. Revenue
totaled $929.7 million, slightly below estimates. Revenue from
Dotdash Meredith rose to $390.5 million, while revenue from Angi
was $305.4 million. Search revenue was a weak point, and the
company reiterated its guidance for the full year, forecasting
adjusted EBITDA between $320 million and $400 million.
Sonos (NASDAQ:SONO) – Sonos shares fell 7.2% in
pre-market after reporting a second fiscal quarter loss of 56 cents
per share, exceeding the 10-cent loss forecast by analysts surveyed
by LSEG. However, the company generated revenue of $253 million,
surpassing the consensus forecast of $247 million.
DoubleVerify (NYSE:DV) – DoubleVerify shares
fell 39.9% in pre-market after the company revised its annual
projections downward. It now expects revenue between $663 million
and $675 million, and adjusted EBITDA between $199 million and $211
million for 2024, citing irregular spending patterns by large
advertisers.
ZoomInfo Technologies (NASDAQ:ZI) – ZoomInfo
Technologies shares plummeted 24.2% in pre-market after the company
projected second-quarter revenue between $306 million and $309
million, below analysts’ estimates of $313.2 million.
Toast (NYSE:TOST) – Toast shares rose 5.4% in
pre-market after reporting revenue of $1.08 billion in the first
quarter, surpassing the LSEG consensus estimate of $1.04 billion.
However, the loss of 15 cents per share was 1 cent worse than
expected, which was 14 cents.
Dutch Bros (NYSE:BROS) – Dutch Bros shares rose
9.6% in pre-market, boosted by the optimistic revenue outlook for
the year, reaching up to 8%. The company expects revenue between
$1.2 billion and $1.215 billion, surpassing previous estimates. In
the first quarter, net profit was $16.2 million, or 9 cents per
share, with revenue of $275.1 million, a 39.5% increase from the
previous year. Same-store sales grew 10%.
Anheuser-Busch InBev (NYSE:BUD) –
Anheuser-Busch InBev shares rose 4.5% in pre-market after recording
solid profits, with a profit of $1.09 billion and revenue of $14.55
billion, exceeding first-quarter expectations. The underlying
earnings per share rose to 75 cents, above the previous 65
cents.
WK Kellogg Co (NYSE:KLG) – WK Kellogg Co
exceeded Wall Street’s quarterly sales estimates due to higher
prices, offsetting a slowdown in demand. The company reported sales
of $707 million, above the expectation of $697.8 million. Net
profit was $33 million, compared to $24 million the previous year,
resulting in earnings per share of 37 cents.
Kenvue (NYSE:KVUE) – Kenvue recorded
first-quarter revenue of $3.89 billion, exceeding estimates of
$3.79 billion. Its adjusted earnings per share were 28 cents,
surpassing analysts’ estimates of 26 cents. Kenvue will cut 4% of
its global workforce to expand its core brands. Kenvue targets
gross savings of about $350 million annually by 2026.
Myriad Genetics (NASDAQ:MYGN) – Myriad Genetics
shares increased 8.6% in pre-market after reporting a first-quarter
loss per share of 1 cent, surpassing analysts’ expectations of a
10-cent loss. The company reported revenue of $202.20 million,
surpassing analysts’ estimates by 4.63%, which was $193.26
million.
Celsius Holdings (NASDAQ:CELH) – Celsius
Holdings recorded a 37% jump in revenue to $355.7 million in the
first quarter of 2024. The company contributed 47% to the growth of
the energy drink market. Gross profit increased by 60%, with
margins of 51.2%, and non-GAAP adjusted EBITDA grew by 81%,
totaling $879.5 million in cash on hand.
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