Beyond high-profile names like AppLovin and Arm Holdings, several other companies also saw notable stock moves following their earnings reports.
Peloton Interactive Inc. shares dropped nearly 13% after reporting that revenue sank 13% last quarter, marking the third straight year-on-year decline in sales.
Revenue totaled $624 million in the fiscal third quarter, which ended March 31. That beat Wall Street estimates of about $619 million, but it wasn’t enough to convince investors that Peloton’s new chief executive officer’s bid to turn around the company has fully taken root.
Kenvue beat analysts' expectations for first-quarter profit and revenue on Thursday as strong demand for its cough-and-cold medicines like Tylenol and Benadryl helped offset a fall in demand for its skin health and beauty products. Shares of Kenvue rose 6%.
Online used-car retailer Carvana Co. doubled its profits in the first quarter with record vehicle volume and a substantial gain in loan sales. Shares rose more than 10%.
Carvana reported a 46% increase in vehicle sales as consumers went on a buying spree of new and used cars to avoid higher costs due to President Donald Trump’s tariffs. That and the company’s continued push for retail growth led to doubling its earnings before interest, taxes, depreciation and amortization to $488 million, beating a consensus estimate of $437.4 million.
Bumble reported a more than 7% fall in first-quarter revenue on Wednesday, but met Wall Street estimates, soothing some investor worries over stiff competition as it revamps its dating apps and cuts costs. Shares of the company jumped 19%.
Sunrun reported better-than-expected first quarter results on Wednesday, sending shares up 15%. The residential solar company posted revenue of $504.3 million, exceeding analyst estimates of $486.09 million. Adjusted loss per share came in at $0.20, beating the consensus forecast for a loss of $0.37 per share.
Shares in Fortinet Inc. dropped over 11% after the cybersecurity company fell short of expectations with its forward guidance and reported a miss on revenue in its fiscal 2025 first quarter.
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