Disney
The entertainment giant, Disney, saw a 5% increase in its stock during after-hours trading following the release of its quarterly results. Disney reported adjusted earnings of $1.03 per share, surpassing the expected 95 cents per share. However, revenue fell slightly short of expectations at $22.33 billion compared to the anticipated $22.5 billion. Additionally, the company experienced a decline of approximately 7% in Disney+ subscribers during the period and announced an upcoming price increase for its streaming services.
Wynn Resorts
Wynn Resorts, a prominent casino company, experienced a 2.5% surge in its stock after reporting better-than-expected second-quarter results. The company achieved adjusted earnings of 91 cents per share and generated $1.6 billion in revenue, surpassing analysts’ expectations of 59 cents per share and $1.54 billion in revenue, respectively.
AppLovin
AppLovin, a game developer, witnessed a significant 22% increase in its shares due to strong second-quarter results and an optimistic revenue forecast for the third quarter. The company expects to generate between $780 million and $800 million in revenue, surpassing analysts’ estimates of $741 million. AppLovin also reported earnings of 22 cents per share for the second quarter, exceeding the expected 7 cents per share.
Illumina
Illumina, a DNA sequencing company, experienced a decline of over 6% in its stock after providing weaker-than-expected guidance. Although Illumina exceeded Wall Street’s expectations for the second quarter, the company anticipates challenges in the second half of the year due to a slow recovery in China and cautious purchasing from customers. Illumina expects a modest 1% increase in full-year revenue, contrasting with analysts’ projected 7.1% uptick.
The Trade Desk
Despite posting better-than-expected quarterly results and providing slightly stronger guidance for the current period, shares of The Trade Desk dropped nearly 4% after the bell. The advertising technology company reported adjusted earnings of 28 cents per share on revenue of $464 million, surpassing analysts’ expectations of 26 cents per share and $455 million in revenue.
Sonos
Sonos, a wireless speaker maker, experienced an 11% surge in its stock during after-hours trading following the announcement of stronger-than-expected results. Sonos reported a loss of 18 cents per share, smaller than the anticipated loss of 20 cents per share, and generated $373 million in revenue compared to the expected $334 million. The company also raised its full-year EBITDA guidance.