See the companies making headlines in after-hours trading. Paramount Global – The media company rose 5.7% after a huge second-quarter profit margin, reporting earnings of 54 cents per share, while analysts surveyed by LSEG called for 12 cents per share. However, Paramount’s revenue of $6.81 billion for the period fell short of the $7.21 billion estimate, making it the company’s biggest miss compared to analyst estimates since February 2020. Paramount also announced it would close 15 % of its US workforce to be cut as part of broader costs. cutback plan prior to the merger with Skydance Media. Expedia – Shares fell 2.2% after Expedia said it saw a more challenging macroeconomic environment and a decline in travel demand in July. However, the online travel company beat expectations, reporting earnings of $3.51 per share on revenue of $3.56 billion, while analysts surveyed by LSEG called for earnings of $3.06 per share on revenue of $3.53 billion. Unity Software – Shares fell 4.6% after the video game software development company beat Wall Street earnings and revenue expectations, but forecast third-quarter revenue below estimates, with a range of $415 to $420 million, compared with an expected $458 million. Unity reported a loss of 32 cents per share on revenue of $449 million for the second quarter, while analysts surveyed by LSEG expected a loss of 42 cents per share on revenue of $440 million. Take-Two Interactive Software – The video game maker gained 4.8% after posting earnings of 5 cents per share in the second quarter, while analysts polled by FactSet expected 2 cents per share. However, Take-Two missed revenue for the quarter, reporting $1.22 billion, compared to estimates of $1.25 billion. Take-Two reaffirmed its full-year adjusted earnings and booking guidance. Elf Beauty – The beauty products retailer fell more than 5.8% after issuing cautious guidance, even as the company beat analysts’ quarterly estimates on the top and bottom lines as sales rose 50%. Eleven reported adjusted earnings per share of $1.10, higher than analyst expectations of 84 cents, LSEG said. Second-quarter revenue came in at $324 million, compared to estimates of $305 million. Doximity – The digital health platform rose 25% after fiscal first-quarter earnings, excluding one-time items, reached 28 cents per share, above the Street consensus of 22 cents, according to FactSet. Projected revenue and adjusted EBITDA for the second quarter and full year also exceeded expectations. Capri Holdings – The Michael Kors parent company fell 4.2% in after-hours trading, dragged down by disappointing quarterly results. The fashion company posted earnings of 4 cents per share on revenue of $1.07 billion, while analysts surveyed by LSEG called for earnings of 59 cents per share on revenue of $1.16 billion. Trade Desk – The ad-buying platform advanced 5% after reporting second-quarter earnings of 39 cents per share, excluding items, beating analysts’ expectations of 36 cents per share, according to FactSet. Revenue for the period was $585 million, also exceeding analyst expectations of $578 million. Sweetgreen – The salad chain rose by almost 20%. Sweetgreen reported second-quarter revenue of $184.6 million, beating analyst estimates of $181 million, per LSEG. Full-year revenue guidance was $670 million to $680 million, compared with consensus estimates of $674 million. Insulet – The maker of insulin delivery systems fell 1% even as Insulet’s second-quarter revenue came in at $488.5 million, compared to the $463.5 million analysts expected, according to LSEG. Akamai Technologies – The cloud company rose 3% after second-quarter results beat analyst expectations. Akamai reported adjusted earnings of $1.58 per share on revenue of $980 million, while The Street called for $1.53 per share in earnings and $977 million in revenue per LSEG. The company also raised its full-year guidance for adjusted earnings. DXC Technology – The Northern Virginia-based IT services company rose 12% after-hours. Fiscal first-quarter earnings per share of 74 cents beat analyst expectations of 58 cents, while revenue of $3.24 billion beat expectations of $3.14 billion, according to FactSet. EPS expectations for the current quarter and full year were also above what the Street had forecast. – Darla Mercado and Scott Schnipper contributed reporting.
Stocks that make the biggest moves after hours: PARA, EXPE, ELF
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