Roku (ROKU): Shares plunged in extended trading after the company forecast a bigger-than-expected loss. Roku expects fourth-quarter adjusted EBITDA to come in at minus $135 million, more than triple what analysts were expecting. For the third quarter, revenue was $761.4 million, up 12% year over year, while average revenue per user increased 10% year over year to $44.25.
In the earnings release, Roku outlined plans to slow hiring, writing, “We will continue to decelerate headcount and operating expense growth in response to the macroeconomic environment, while continuing to make disciplined investments in our most strategic projects that drive both market penetration and… Market penetration will increase our platform and long-term customer value.”
Qualcomm (QCOM): The chipmaker’s first-quarter guidance fell short of Wall Street estimates, putting pressure on shares in extended trading. Qualcomm expects adjusted earnings per share of $2.25 to $2.45 per share on revenue of $9.2 to $10 billion for the first quarter. Christopher Rolland, senior equity analyst at Susquehanna International Group (SIG), told Yahoo Finance that Qualcomm’s guidance was the company’s “worst guidance in years.” Qualcomm also warned of a rapid weakening of demand and increased inventories.
Etsy (ETSY): Shares jumped hours after the company’s revenue and gross merchandise sales (GMS) beat expectations. Revenue for the third quarter was $594.5 million, up 12% year over year, while gross merchandise sales were $3 billion.
posting balances (BKNG): The summer travel boom helped propel Booking’s third-quarter results as the company more than doubled its profit from a year earlier. Revenue of $6.05 billion exceeded analysts’ expectations. Nights booked in the third quarter increased by 31%. In the earnings release, CEO Glenn Foge noted an “improving room night trend” despite increasing concerns about macroeconomic headwinds.
Robin Hood (HOOD): Shares rose 3% in extended trading after Robinhood reported a smaller-than-expected loss. Net loss was $175 million, or 20 cents a share, compared to a net loss of $295 million in the prior quarter. Revenue was $361 million, exceeding expectations.
The story goes on
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