The Afterhours — Disney, Lyft, MGM, Arm, Instacart, Hubspot, Take-Two, U-Haul
Published: 18:52 08 Nov 2023 EST
The Walt Disney Company (NYSE:DIS) shares gained 3% in extended trading after the company reported fourth-quarter 2023 adjusted earnings per share (EPS) of $0.82, up from $0.30 a year earlier and better than the $0.70 analyst consensus forecast according to Zacks Equity Research.
The entertainment giant’s bottom-line results were boosted by the profit at ESPN+ as well as higher attendance and ticket prices at its theme parks.
Lyft Inc (NASDAQ:LYFT) shares fell 2.2% after the ride-share company unexpectedly reported a loss per share of $0.03 for the third quarter, compared to Wall Street estimates of earnings per share of $0.09.
Revenue of $1.16 billion, however, was better than expected, above analysts’ estimates of $1.14 billion. It grew 10% year over year.
MGM Resorts International (NYSE:MGM) stock rose 2.6% after the company announced a new $2 billion share repurchase program after having bought back 13 million common stock shares for $572 million during its third quarter.
CFO Jonathan Halkyard told shareholders that the company views share repurchases as an “attractive opportunity to return value to our shareholders."
Arm Holdings PLC (NASDAQ:ARM), the semiconductor technology company backed by SoftBank, saw its stock drop more than 6% following its first quarterly earnings report since going public.
The company posted revenue of $806 million, beating expectations of $744.3 million, and adjusted earnings of $0.36 per share, compared to expectations of $0.26 per share.
Instacart (NASDAQ:CART) stock climbed 0.3% after the company issued fourth-quarter earnings guidance that exceeded analyst expectations in its first report since going public in September.
The grocery delivery company guided for current quarter earnings between $165 million and $175 million, topping Street expectations of $155.6 million. It expects full-year gross transaction value to grow by mid-single digits, in line with expectations of 4.7% growth.
Hubspot stock improved 5.4% after the company reported third-quarter earnings that topped analyst estimates and guided sales and profits above expectations for the December quarter.
Shares of the customer relationship management platform provider added 9.1% at US$482.50 on its results.
Take-Two Interactive Software Inc (NASDAQ:TTWO) reported fiscal second-quarter earnings that slightly topped expectations, but excitement over the announcement of Grand Theft Auto VI lifted the stock before its results were even announced.
Shares of the Rockstar Games parent climbed more than 2% in extended trading Wednesday after the company posted earnings of $1.22 a share on net bookings of $1.44 billion, compared to expectations of $1.03 per share on sales of $1.43 billion.
U-Haul Holding Company shares fell more than 4% after the company’s fiscal second-quarter results missed expectations.
The moving vehicle rental company posted earnings of $1.36 per share on revenue of $1.64 billion, compared to expectations of $1.76 per share on revenue of $1.65 billion.
