See which businesses are in the news during extended trading:
Shares of Airbnb, the hotel chain, fell 8% after providing unsatisfactory forward guidance. Airbnb predicted revenue for the second quarter of $2.68 billion to $2.74 billion, but LSEG reports that analysts were more likely to predict $2.74 billion. During the first quarter, the company’s top and bottom lines exceeded expectations.
The first-quarter report from Robinhood, a retailer of investments, exceeded Wall Street expectations, causing a roughly 6% increase in share price. While analysts surveyed by LSEG predicted $6 cents per share and $549 million in revenue, Robinhood reported earnings of 18 cents per share on $618 million in revenue.
Klaviyo – Following the release of encouraging second-quarter revenue guidance by the marketing automation company, shares increased by 7%. In contrast to the $210 million analysts surveyed by LSEG, Klaviyo forecasts revenue in the current quarter of $211 million to $213 million.
Shares of Arm Holdings fell 6%. Wall Street was expecting $3.99 billion in revenue, but the chip company reported full-year revenue guidance of $3.8 billion to $4.1 billion, according to LSEG.
Equinix— The investment trust focused on data center real estate increased by over 11%. With respect to first-quarter earnings before interest, taxes, depreciation, and amortization, Equinix reported $992 million. $981.3 million was demanded by analysts surveyed by FactSet.
AppLovin: The tech company for smartphones saw a 10% increase. AppLovin’s first-quarter revenue was $1.06 billion, and the company earned 67 cents per share. Analysts forecasted $974 million in revenue and 57 cents per share in earnings.
SolarEdge: The provider of solar energy saw a decline of about 7%. When LSEG polled analysts predicted a loss of $1.57 per share, SolarEdge reported a wider-than-expected loss of $1.90 per share for the first quarter. The second-quarter revenue guidance was likewise disappointing, with a range of $250 million to $280 million as opposed to the $306 million analysts had predicted.