After-Hours Trading: DoorDash, Coinbase, Applied Materials, Toast, Roku, DraftKings, Trade Desk, Dropbox, Yelp, Texas Roadhouse, Bio Rad Laboratories
Several companies made headlines in after-hours trading. Here are some key highlights:
DoorDash
DoorDash reported mixed fourth-quarter results, causing its shares to drop nearly 8%. While revenue rose 27% to $2.3 billion, beating estimates, the company posted a wider-than-expected loss of 39 cents per share. DoorDash saw a 23% increase in the total number of orders to 574 million, surpassing expectations.
Coinbase
Cryptocurrency exchange Coinbase saw its shares rise by 13% in extended trading after announcing fourth-quarter earnings of $1.04 per share on revenue of $954 million. Analysts had predicted a loss of 1 cent per share on revenue of $822 million.
Applied Materials
Semiconductor equipment maker Applied Materials experienced an 11% surge in after-hours trading as it exceeded earnings estimates and provided a positive outlook for the fiscal second quarter. The company reported first-quarter earnings per share of $2.13, beating estimates of $1.90 per share. Revenue for the period was $6.71 billion, higher than the estimated $6.48 billion.
Toast
The maker of restaurant point of sale systems, Toast, saw a 3% increase in shares after reporting fourth-quarter results. The company posted a narrower loss of 7 cents per share compared to the expected 11 cents per share loss. Revenue came in line with expectations at $1.04 billion.
Roku
Streaming provider Roku’s shares dropped 14% after reporting a wider-than-expected loss of 55 cents per share for the fourth quarter. However, revenue of $984 million surpassed estimates of $968 million.
DraftKings
Sports betting company DraftKings experienced a 2% decline in shares after posting a surprise loss of 10 cents per share for the fourth quarter, contrary to analysts’ expectations of earnings of 8 cents per share. Revenue was slightly below estimates at $1.23 billion.
Trade Desk
Digital advertising company Trade Desk saw its shares rise nearly 19% after reporting quarterly revenue of $606 million, surpassing Wall Street estimates. The company also provided a higher-than-expected revenue forecast for the first quarter.
Dropbox
File hosting service operator Dropbox saw its shares decline over 3% after reporting fourth-quarter adjusted earnings of 50 cents per share on revenue of $635 million. While earnings beat expectations, revenue was slightly below estimates.
Yelp
Shares of Yelp dropped around 10% after the website’s first-quarter guidance for adjusted EBITDA and revenue fell short of analysts’ estimates. Fourth-quarter earnings per share also missed expectations.
Texas Roadhouse
The steakhouse chain Texas Roadhouse exceeded analysts’ consensus estimates for fourth-quarter earnings per share and raised its dividend by 11%. As a result, the company’s shares rose by 8.3% after the stock market closed.
Bio Rad Laboratories
Life science equipment company Bio Rad Laboratories reported fourth-quarter earnings per share that exceeded analysts’ consensus estimates. Although the stock initially rose by 7% in after-hours trading, it remained unchanged.
Conclusion
In after-hours trading, several companies experienced significant movements in their stock prices. DoorDash, Coinbase, Applied Materials, Toast, Roku, DraftKings, Trade Desk, Dropbox, Yelp, Texas Roadhouse, and Bio Rad Laboratories all released their fourth-quarter results. While some companies exceeded expectations and saw their shares rise, others disappointed investors with wider losses or missed revenue estimates. The cryptocurrency sector showed resilience as Coinbase’s earnings beat predictions. Overall, the after-hours trading session reflected a mix of positive and negative news for these companies.
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