Stocks move fast after hours: LYFT, EXPE, PYPL, YELP
A traveler arriving at Los Angeles International Airport seeks ground transportation during a statewide action to demand that Uber and Lyft comply with California laws and grant drivers “basic employee rights.” Los Angeles, California, USA, August 20. , 2020.
Mike Blake | Reuters
Check out the companies that make headlines in extended trading.
expedition — The travel company’s shares fell 1.8% after the company fell short of analysts’ expectations for earnings and revenue in the latest quarter. The company reported adjusted earnings per share of $1.26 on revenue of $2.62 billion. Analysts had forecast earnings of $1.67 per share on revenue of $2.70 billion, according to Refinitiv.
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Elevator — Lyft shares fell 29% in extended trading after a disappointing fourth-quarter financial report. The call-to-passenger company reported a loss of 74 cents per share. Lyft also expects to generate about $975 million in revenue in the first quarter of fiscal year 2023, lower than analysts’ forecast of $1.09 billion, according to StreetAccount.
PayPal — PayPal shares fell 3% after hours following the company’s quarterly report. Revenue was $7.38 billion, compared to analysts’ estimate of $7.39 billion, according to Refinitiv. PayPal CEO Dan Shulman also announced that he intends to retire at the end of 2023.
Squeal The restaurant review website’s stock rose 10% after Yelp reported fourth-quarter earnings that beat analysts’ expectations. The company’s revenue was $309 million, compared to analysts’ forecasts of $307 million, according to Refinitiv. Earnings per share was 28 cents, in line with estimates.
Motorola — Shares of the communications company rose 1.8% after Motorola beat analysts’ expectations on revenue and earnings, according to FactSet.
Brands Topgolf Callaway The golf company’s shares rose 4% after the company reported fourth-quarter revenue of $851.3 million. Analysts had forecast revenue of $840.4 million, according to FactSet.
cloud flash – Shares of the cloud service provider gained 11% after hours. Cloudflare reported quarterly earnings of six cents per share, excluding items, on $275 million in revenue. Analysts were calling for earnings per share of five cents on revenue of $274 million.
— Darla Mercado of CNBC also contributed to the report.