In this photo illustration, the logo for the US tech firm “Block” is displayed and reflected in a number of digital screens on March 03, 2023 in London, England.
Leon Neal | Getty Images
Check out the companies making headlines in extended trading.
Intuit — Shares pulled back roughly 1% after the financial software company posted revenue of $3.39 billion in its fiscal second quarter. The result was in line with what analysts polled by LSEG had expected. Adjusted earnings came in ahead of Wall Street’s estimate at $2.63 per share, compared to $2.30 per share anticipated by analysts.
Live Nation Entertainment — Shares added about 1% in extended trading. Live Nation reported revenue of $5.84 billion, surpassing analysts’ estimates of $4.79 billion, per LSEG. The entertainment company also posted fourth-quarter operating income that was slightly below consensus.
Booking Holdings — The online travel company fell more than 4% even after reporting a fourth-quarter earnings and revenue beat, while room nights booked increased by 9%. Booking Holdings also announced it would initiate a quarterly cash dividend of $8.75 per share.
Insulet — The medical device company fell more than 5% after issuing a lower-than-expected revenue growth forecast. Insulet expects revenue to increase by 17% to 20% on a year-over-year basis in the first quarter, while analysts polled by FactSet expected 24.3%.
Block — Shares of the payment company soared nearly 11% on the heels of a fourth-quarter revenue beat. Block reported $5.77 billion in revenue while analysts surveyed by LSEG expected $5.70 billion. The company is calling for gross profit of at least $8.65 billion in 2024, up at least 15% year over year.
Carvana — Shares climbed more than 20% after the car resale company said it expects to grow the number of retail units sold for 2024, but did not offer specific numbers. Carvana posted a fourth-quarter loss of $1 per share on revenue of $2.42 billion, missing the estimates of analysts polled by LSEG.
MercadoLibre — The e-commerce company tumbled 8% after it posted fourth quarter earnings of $3.25 per share, flat from the year-ago period. Operating income, excluding items, came in at $572 million, while analysts polled by FactSet called for $668.5 million.
Source link
