Roblox is a video game. Shares plunged 20% after the online gambling platform missed second-quarter earnings projections. Roblox reported a loss of 46 cents per share, compared to the 45-cent loss projected by Refinitiv analysts surveyed. Revenue came up at $781 million, falling short of the $785 million forecast.
DraftKings and Penn Entertainment — Penn Entertainment shares jumped 7% the next day as the business announced a 10-year partnership with Disney-owned ESPN to rename and relaunch its sportsbook as ESPN Bet. This is the first time ESPN’s brand has appeared on a sports betting platform. Following the revelation, shares of Penn competitor DraftKings fell 9%.
Upstart – Shares fell more than 32% after dismal expectations. Upstart, a consumer loan platform, forecasts third-quarter adjusted EBITDA and sales of $5 million and $140 million, respectively. According to StreetAccount, analysts predicted $155 million in revenue and $9.6 million in adjusted EBITDA. Despite the price decline, the business disclosed second-quarter earnings that were above expectations, including a surprise adjusted profit of 6 cents per share.
Lyft — Following its second-quarter results statement after the bell Tuesday, the ride-sharing company’s stock dropped around 8%. According to Refinitiv, Lyft’s revenue was $1.02 billion, which was in line with analyst projections. The business reported adjusted earnings of 16 cents per share, above expectations of a loss of 1 cent per share. However, the company’s income per active user fell as a result of its efforts to compete with Uber by lowering ride costs.
Rivian — The electric car manufacturer’s stock fell more than 8% the day after it posted a smaller-than-expected loss. Rivian reported an adjusted loss per share of $1.08 in the second quarter, compared to the Street’s expectation of $1.41 per share, according to Refinitiv. Analysts, on the other hand, warned that the firm still faces headwinds, which might suggest a “long path to profitability,” such as increased competition and depletion of free cash flow.
Carvana – The shares of the online vehicle vendor fell more than 3%. Carvana provided a better-than-expected third-quarter forecast, stating that the company anticipates EBITDA to exceed $75 million. FactSet surveyed analysts, who predicted EBITDA of little more than $46 million.
Twilio (Twilio Inc.) — Twilio gained 2.5% in a single day after exceeding second-quarter results projections. Excluding adjustments, the business earned 54 cents per share on $1.04 billion in sales. According to Refinitiv, this exceeded analysts’ expectations of 30 cents per share and $986 million in revenue.
Celsius Holdings — Celsius Holdings rose 21% as the beverage business known for its range of energy drinks outperformed estimates in its second quarter. Late Tuesday, the business reported earnings of 52 cents per share, beating the Refinitiv consensus of 28 cents per share. Revenue was $326 million, greatly above the expected $276 million.
Toast — The supply of restaurant management software increased by 15%. Toast reported $978 million in sales for the second quarter on Tuesday, above analysts’ projections of $942 million, according to Refinitiv. The corporation also provided optimistic third-quarter and full-year projections.
Super Micro Computer – The information technology firm that has benefited from the newest artificial intelligence frenzy has dropped by more than 23%. Super Micro Computer announced adjusted earnings of $3.51 per share on $2.18 billion in revenue on Tuesday. Refinitiv polled analysts predicted earnings of $2.96 per share on revenue of $2.08 billion. The business also provided a forecast with a midpoint that was somewhat higher than expected.
Bumblebee — Bumble’s stock dropped 7%. When compared to a FactSet consensus estimate, the firm provided unimpressive projections for adjusted EBITDA in the current quarter on Tuesday. In comparison to projections of $74.8 million, the business expects adjusted EBITDA of $71 million to $73 million.
Akamai Technologies, Inc. Akamai Technologies’ stock increased by 9%. On Tuesday, the software company reported better-than-expected quarterly profits. According to FactSet, the business earned $1.49 per share excluding items on revenues of $935.7 million, above analysts’ expectations of $1.41 per share and $930.4 million.
Axon Corporation — Taser manufacturer shares jumped 14% after reporting excellent quarterly earnings that exceeded Wall Street’s forecasts. Axon Enterprise reported adjusted profits of $1.11 per share on $374.6 million in revenue on Tuesday. According to FactSet, analysts expected 62 cents per share in EPS and $350.5 million in sales. The corporation also raised its full-year forecast.
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IAC — On the back of poor quarterly earnings, shares of the media and internet giant fell 13%. According to Refinitiv, IAC reported a loss of $1.07 per share on Tuesday, which was more than the 82-cent loss projected by analysts. Revenues were $1.11 billion, somewhat less than the $1.12 billion forecast.
Marqeta – Shares of the payments platform business rose almost 15% the next day when Marqeta announced a partnership to continue serving Block’s CashApp until June 2027. In addition, the corporation had a mixed second quarter. Marqeta lost 11 cents per share on revenue of $231 million. Refinitiv polled analysts predicted a loss of 9 cents per share on $219 million in sales.
