Game Stop (GME): The retailer missed out on both sales and profits as sales fell amid a game slowdown. Third-quarter net revenue of $1.19 billion was down 8.5% year-over-year due to a 19% decline in software sales. GameStop reported losses of $94.7 million in the third quarter, its seventh straight quarterly loss. Inventory was $1.13 billion compared to $1.14 billion a year ago. Shares rose as much as 4% in extended trading on Wednesday.
Rent the runway (RENTAL FEE): The company raised its full-year revenue guidance and sent shares up as much as 22% in extended trading. Rent the Runway reports revenue of $293-$295 million, beating analysts’ estimate of $288.3 million. CEO Jennifer Hyman noted in the press release that the company’s restructuring plan is “essentially complete” and will focus going forward on “materially improving cash burn.”
C3.ai (AI): The AI software maker reported better-than-expected third-quarter earnings and sales, confirming its full-year revenue guidance of $255 million to $270 million. Revenue for the quarter increased 7.1% year over year, driven by a 26% increase in subscription sales. The shares were little changed after the close of business.
The Duckhorn Portfolio (NAPA): Shares rose 3% in extended trading after the winemaker’s first-quarter net sales and earnings beat expectations. Revenue for the quarter was $108.2 million compared to $104.2 million a year ago. Net income was $19.8 million compared to $21.3 million last year.
Duckhorn also announced that its CFO, Lori Beaudoin, will step down in Spring 2023 after more than 13 years with the company.
Click here for the latest stock tickers from the Yahoo Finance platform
For the latest stock market news and in-depth analysis, including events moving stocks, click here
Read the latest financial and business news from Yahoo Finance
Download the Yahoo Finance app for Apple or Android
Follow Yahoo Finance on TwitterFacebook, Instagram, Flipboard, LinkedIn and YouTube