The latest after-hours trading session has seen significant movements across various tech and entertainment stocks. Companies like The Trade Desk, Fastly, Equinix, MGM Resorts, Dutch Bros, Applovin, Robinhood, and Reddit reported their fourth-quarter earnings, leading to notable shifts in their stock prices.
The Trade Desk reported revenue of $741 million for the fourth quarter, falling short of the $759 million forecasted by analysts. The company also posted a loss of 3 cents per share, which was wider than expected. As a result, investors responded cautiously to these figures.
Fastly's financial outlook also failed to meet market expectations. The company anticipates a loss of 9 cents to 15 cents per share, contrary to analysts' predictions of a 4-cent profit per share. Consequently, Fastly's shares tumbled approximately 16%, reflecting investor concern over the weak guidance for the full year.
On the other hand, Equinix exceeded expectations with a revenue report of $4.27 billion, surpassing consensus estimates. Additionally, the company announced a 10% increase in its quarterly cash dividend to $4.69 per share, which likely contributed to positive sentiment among investors.
MGM Resorts reported $4.35 billion in revenue for the fourth quarter, aligning with market expectations. Meanwhile, Dutch Bros experienced a 19% surge in stock value after its fourth-quarter earnings surpassed forecasts and the company issued an optimistic full-year revenue outlook.
Applovin also enjoyed a positive after-hours response, with shares climbing 20%. The company reported earnings of $1.73 per share on $1.37 billion in revenue, beating Wall Street's projections. It further bolstered investor confidence by providing strong guidance for the current quarter.
Robinhood saw its stock jump 13% as it reported $1.01 billion in revenue for the quarter, surpassing the consensus estimate of $944.6 million. This performance indicates robust growth and stronger-than-expected revenue for the period.
In contrast, Reddit's shares slid 17% due to disappointing user numbers that fell short of Wall Street's expectations. However, Reddit managed to beat analysts' predictions on both the top and bottom lines for the fourth quarter.
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