Affirm Holdings, the payment company specializing in buy now, pay later loans, witnessed a 14% surge in its shares following the announcement of better-than-expected earnings for the fiscal second quarter. Revenue for the period reached $866 million, surpassing analysts' expectations of $807 million. Earnings per share came in at 23 cents, significantly beating the anticipated loss of 15 cents per share. Additionally, the company reported a 35% year-over-year growth in gross merchandise volume.
Tesla Faces 1% Dip in Shares Due to Decline in China Sales
Tesla experienced a 1% decrease in its shares as sales of Tesla cars in China dropped by 11.5% in January. The decline was attributed to increased competition from Chinese rivals who saw a rise in their sales during the same period. Tesla sold 63,238 units in comparison to 71,447 units sold in the previous year.
Pinterest Stock Soars Over 20% on Strong Quarterly Results
Pinterest's stock witnessed a remarkable increase of more than 20% in premarket trading after the company reported robust quarterly results. The fourth-quarter revenue for Pinterest surged by 18% year over year, with a net income of $1.85 billion, inclusive of a deferred tax benefit. Global monthly active users for the platform rose by 11% to 553 million in the same quarter.
Amazon Faces 3% Share Drop Following Weaker-Than-Expected Guidance
Amazon observed a 3% decline in its shares as the e-commerce giant provided guidance for the current quarter that fell short of expectations. The company anticipates first-quarter sales between $151 billion and $155.5 billion, below the anticipated $158.5 billion. Despite this, Amazon's fourth-quarter earnings and revenue surpassed consensus expectations.
E.l.f. Beauty Sees 25% Stock Decline After Slashing Fiscal Year Guidance
Shares of cosmetics company E.l.f. Beauty plummeted by 25% after the firm reduced its guidance for the fiscal year. The company projects sales to range between $1.3 billion and $1.31 billion, falling short of the consensus estimate of $1.34 billion. Additionally, adjusted earnings for the third quarter were below expectations at 74 cents per share.
Take-Two Interactive Software Surges 9% on Grand Theft Auto VI Announcement
Video game stock Take-Two Interactive Software experienced a 9% surge after announcing the upcoming release of Grand Theft Auto VI this fall. Despite net bookings for the fiscal third quarter coming in slightly below expectations at $1.37 billion, the stock price saw a notable increase.
Bill Holdings Faces 30% Stock Plunge Due to Revenue Forecast Disappointment
Billing software company Bill Holdings witnessed a drastic 30% drop in its stock price following a disappointing revenue forecast for the fiscal third quarter. Revenue expectations of $352.5 million to $357.5 million fell short of the $360.4 million estimated by LSEG.
Expedia Stock Rises Over 11% on Strong Fourth-Quarter Results
Online travel company Expedia observed a more than 11% increase in its shares after surpassing Wall Street expectations with its fourth-quarter results. The company posted adjusted earnings of $2.39 per share on revenue of $3.18 billion, outperforming analyst predictions.
Monolithic Power Systems Gains 9% on Exceeding Fourth-Quarter Expectations
Monolithic Power Systems saw a 9% rise in its shares after surpassing both earnings and revenue expectations for the fourth quarter. The semiconductor company also provided a better-than-expected revenue guidance for the current quarter, along with announcing a significant stock repurchase program and dividend increase.
Fortinet Stock Surges 6% Following Better-Than-Expected Results
Cybersecurity stock Fortinet rallied 6% after posting better-than-expected fourth-quarter results and offering a strong guidance for the full year. The company estimates its full-year revenue to be between $6.65 billion and $6.85 billion, surpassing analyst estimates.
