Last Updated, Aug 7, 2024, 9:22 PM
WBD, Z, DUOL and more
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Here are some of the stocks making notable moves after the market close on Wednesday, Aug. 7. Warner Bros. Discovery — The entertainment stock dropped 8.5% after the announcement of a $9.1 billion write down related to TV networks. Warner Bros. Discovery’s revenue for the second quarter also came in well below analysts’ expectations. Zillow — The real estate platform’s shares soared more than 13% in extended trading following a stellar quarterly report. Zillow posted adjusted earnings of 39 cents per share in the second quarter, 12 cents higher than the estimate based on an LSEG poll of analysts. Revenue of $572 million also came in higher than the expectation of $538 million. Klaviyo – Shares of the marketing platform provider jumped 17%. Klaviyo posted second-quarter results that topped Wall Street’s estimates. Adjusted earnings came in at 15 cents a share, while revenue was $222 million. Analysts polled by LSEG called for 10 cents per share in earnings and $212 million in revenue. Bumble — Shares of the dating app company tumbled more than 28% after second-quarter revenue came in weaker than expected. Bumble reported $269 million in revenue for the quarter, below the $273 million expected by analysts, according to LSEG. Dutch Bros – The drive-thru coffee company’s stock tumbled 15%. Dutch Bros raised its full-year revenue guidance to a range of $1.215 billion to $1.23 billion, roughly on par with the Street’s estimate for $1.228 billion, per LSEG. Second-quarter results surpassed analysts’ expectations on the top and bottom lines, however. JFrog — The tech stock plunged 24% after guidance for the third quarter came in lighter than expected. The company said it expected earnings per share between 9 cents and 11 cents on revenue of $105 million to $106 million. Analysts surveyed by LSEG had estimated 14 cents per share on $108 million of revenue. Duolingo — Shares of the language learning app rose 5% after second-quarter earnings topped estimates. Duolingo said it generated 51 cents of earnings per share, above the 32 cents expected by analysts, according to LSEG. Revenue of $178 million was $1 million above expectations. SolarEdge Technologies – The maker of solar power products dropped nearly 7%. SolarEdge’s second-quarter adjusted loss of $1.79 per share was wider than the loss of $1.58 per share analysts anticipated, per LSEG. Revenue was higher than the Street estimated, however, coming in at $265 million versus the $262 million expected. Applovin — The tech stock fell 2% despite the company beating profit estimates for the second quarter. Applovin reported 89 cents in earnings per share, while analysts surveyed by LSEG were looking for 75 cents. However, revenue of $1.08 billion simply matched expectations, and the company said its monthly active payers metric declined year over year. Fastly — The software stock fell 16% after the cloud computing services company issued soft full-year guidance. Fastly said it expected to lose between 16 cents and 11 cents per share on $530 million to $540 million of revenue. Analysts surveyed by LSEG had predicted a loss of 11 cents per share and $558 million of revenue. McKesson — The medical supply stock fell more than 7% after revenue for the company’s fiscal first quarter missed expectations. McKesson reported $79.28 billion of revenue, while analysts were expecting $82.53 billion, according to FactSet. — CNBC’s Yun Li and Darla Mercado contributed.
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