SNAP, ARM, FIG, LYFT and more
Check out the companies making headlines in after-hours trading. Snap — The social media company surged 26% after it unveiled a $500 million buyback program and issued strong fourth-quarter revenue guidance. On top of that, Snap said Perplexity AI will pay it $400 million to integrate the AI startup’s search capabilities into Snapchat. Arm Holdings — Chip designer Arm Holdings’ stock rose nearly 3% after beating expectations on the top and bottom lines. Arm earned 39 cents per share, excluding items, on revenue of $1.14 billion. Analysts surveyed by LSEG had expected Arm to earn 33 cents per share on revenue of $1.06 billion. The company’s third-quarter forecast also outpaced estimates. Figma — AI software company Figma saw its shares rise nearly 6% after it beat third-quarter revenue estimates and raised its forecast for the year. Figma reported revenue of $274 million, topping the $265 million estimate, per LSEG. The firm now expects revenue of $1.04 billion and $1.05 billion in fiscal 2025, up from its earlier forecast of $1.02 billion to $1.03 billion. Lyft — The ride hailing stock climbed nearly 3% following an earnings beat. Lyft earned 11 cents per share. Analysts expected a profit of 8 cents per share, per LSEG. e.l.f. Beauty — The beauty brand’s stock plunged more than 22% after reporting mixed fiscal second-quarter results. The company earned 68 cents per share, excluding items, topping the LSEG estimate of 57 cents a share. However, the company’s revenue of $344 million, missed Wall Street’s expectations of $366 million. E.l.f. Beauty’s annual sales forecast was also disappointing. Dutch Bros — Shares of the coffee chain rose more than 4% after its third-quarter earnings and revenue topped Wall Street’s expectations. Dutch Bros posted adjusted earnings of 19 cents per share on revenue of $423.6 million, above the 17 cents per share and $413.6 million that analysts polled by FactSet had penciled in. The company also raised its full-year guidance. Applovin — The software stock popped more than 6% on the heels of its better-than-expected quarterly results. For the third quarter, Applovin posted adjusted EBITDA of $1.16 billion, while analysts had expected $1.09 billion, according to FactSet. Additionally, the company reported revenue of $1.41 billion, beating the consensus estimate of $1.34 billion. Its fourth-quarter outlook was also upbeat. Devon Energy — Shares ticked up more than 1% following the company’s earnings and revenue beat. Devon Energy reported $1.04 in adjusted earnings per share and $4.33 billion in revenue. That’s better than the 93 cents per share and $4.14 billion in revenue that analysts had estimated, per FactSet. Robinhood — Shares slipped 2% as investors were underwhelmed by the trading platform’s stronger-than-expected financial results for the third quarter. The company reported third-quarter earnings of 61 cents per share on revenue of $1.27 billion compared with analysts’ average earnings forecast of 53 cents per share on revenue of $1.19 billion, per LSEG data. Robinhood’s stock has jumped more than 470% over the past year. Qualcomm — Shares of the chipmaker fell about 2% after reporting better-than-expected earnings and revenue for the fiscal fourth quarter. Qualcomm earned $3.00 per share on an adjusted basis, topping the $2.88 per share estimate from LSEG. Revenue of $11.27 billion, compared with a consensus estimate of $10.79 billion. For the fiscal first quarter, Qualcomm expects revenue of $11.8 billion to $12.6 billion, or $12.2 billion at the middle of the range, also topping estimates. Adjusted EPS will be $3.30 to $3.50, the company said, while analysts expected earnings of $3.31 per share. Fortinet — The stock fell 11% after the cybersecurity firm reported better-than-expected financial results for the third quarter but lowered its full-year guidance. Fortinet clocked 74 cents per share excluding items on revenue of $1.72 billion versus analysts’ estimates of earnings of 63 cents per share on $1.70 billion revenue, per LSEG data. However, the company adjusted its revenue guidance through the end of this year to between $6.72 billion and $6.78 billion, marking a slight decrease from its prior guidance of $6.68 billion to $6.83 billion. Hubspot — The stock slumped 12%, despite the customer platform reporting strong top and bottom-line figures for the third quarter. The company posted earnings of $2.66 per share excluding items on revenue of $810 million versus the Street’s average earnings estimate of $2.58 per share on revenue of $787 million, LSEG data shows. DoorDash — Shares plunged 15% after the delivery app reported mixed results for the third quarter . The company posted earnings of 55 cents per share, falling below Wall Street’s estimate of 69 cents per share, LSEG data shows. However, DoorDash’s revenue came in at $3.45 billion, topping analysts’ expectations of $3.36 billion. Duolingo — Shares of the language learning platform cratered more than 17% even as it topped third-quarter revenue forecasts and raised its sales outlook. Revenue of $271.7 million in the third quarter, bested estimates of $260.3 million. The company now expects to ring up $1.028 billion to $1.032 billion in revenue this year. However, investors were concerned that the company’s fourth-quarter bookings estimate was below expectations. — CNBC’s Sean Conlon, Christina Cheddar Berk and Fred Imbert contributed reporting.
