Companies Making Headlines After Hours

Rivian Automotive

Rivian Automotive’s stock declined about 2.5% in extended trading, despite beating second-quarter expectations on both revenue and earnings. The electric automaker reported an adjusted loss of $1.08 per share on revenue of $1.12 billion, surpassing analysts’ forecasted loss per share of $1.41 on revenues of $1.00 billion.

Super Micro Computer

Super Micro Computer’s stock tumbled 12% in extended trading, despite reporting an earnings beat. The information technology company posted fiscal fourth-quarter adjusted earnings of $3.51 per share on revenue of $2.18 billion, exceeding analysts’ estimated per-share earnings of $2.96 on revenue of $2.08 billion. Its first-quarter guidance also slightly exceeded expectations.

Axon Enterprise

Axon Enterprise’s stock advanced 10% after the weapons maker behind the Taser and other products exceeded expectations in its latest earnings results. The company reported second-quarter adjusted earnings of $1.11 per share, beating the consensus estimate of 62 cents per share. It also posted revenue of $374.6 million, higher than the forecasted $350.5 million.

Penn Entertainment

Penn Entertainment’s stock surged 22% after announcing the launch of an online sportsbook with ESPN called ESPN Bet, set to debut in the fall.

Take-Two Interactive Software

Take-Two Interactive Software’s stock rose 3.4% in extended trading after reaffirming full-year bookings guidance. However, the video game company reported first-quarter revenue of $1.20 billion, slightly lower than the consensus estimate of $1.21 billion. Its second-quarter bookings guidance also fell slightly below estimates.

Twilio

Twilio’s shares gained 10% after reporting better-than-expected earnings in its latest results. The company posted second-quarter adjusted earnings of 54 cents per share on revenue of $1.04 billion, surpassing analysts’ anticipated earnings of 30 cents per share on revenue of $986 million.

Bumble

Bumble’s shares dipped 3.5% in extended trading. The online dating company reported second-quarter earnings of 5 cents per share on revenue of $260 million, slightly exceeding analysts’ expectations of 3 cents per share on revenues of $257 million.

Lyft

Lyft’s shares initially rose over 12% following the release of its second-quarter results but later fell 6% in extended trading. The ride-hailing company posted revenue of $1.02 billion, in line with analysts’ estimates. Adjusted per-share earnings came in at 16 cents, beating the expected loss of 1 cent per share.

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Clayton Turner is a news reporter and copy editor for 24PalNews. Born and raised in Virginia, Clayton graduated from Virginia Tech’s Frank Batten School of Leadership and Public Policy and majored in journalism.

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