PayPal, Airbnb, Match Group, Caesars and more
A sign is displayed outside PayPal’s headquarters in San Jose, California.
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Find out which companies are making headlines in extended trading.
Match Group – Shares in the dating app operator fell 23% after the company reported second-quarter revenue of $795 million, against FactSet estimates of $803.9 million of dollars. Match also issued a weak guidance for operating profit and adjusted revenue for the current quarter.
Solaredge Technologies – The solar energy stock fell nearly 13% in after-hours trading after disappointing quarterly results. Solaredge reported EPS of 95 cents, below analysts’ expectations of 88 cents per share, according to FactSet. Revenues were also below estimates.
PayPal – Shares of the payments giant soared 11% after hours on the back of stronger-than-expected second-quarter results and an increase in its guidance. PayPal also disclosed that it has entered into an information-sharing agreement with Elliott Management.
SoFi – Shares soared more than 7% after the personal finance company reported a beating on the top and bottom results. “As the political, fiscal and economic landscapes continue to change around us, we have maintained a strong and consistent momentum in our business,” SoFi CEO Anthony Noto said in a statement.
Airbnb – Airbnb shares fell about 10% in extended trading after the vacation home rental company posted weaker-than-expected second-quarter revenue. The company also reported more than 103 million nights and experiences booked, the highest quarterly number ever for the company, but below StreetAccount estimates of 106.4 million.
Advanced Micro Devices – AMD shares fell nearly 5% despite posting strong quarterly earnings and revenue, after the chipmaker issued weaker-than-expected guidance for the third quarter. The chipmaker said it expects $6.7 billion in revenue in the current quarter, plus or minus $200 million. Analysts expected $6.83 billion.
Caesars Entertainment – The casino company lost about 2% after reporting a quarterly loss of 57 cents per share, 74 cents lower than analysts had expected. It also reported a loss from Caesars Digital of $69 million, compared to $2 million in the comparable period a year earlier.
Robinhood – Robinhood slid about 2% after announcing it would cut its workforce by about 23%, after previously laying off 9% in April, and posted a decline in monthly active users and assets in custody for the second trimester. The investment app operator released its results a day ahead of schedule.
Starbucks – The coffee chain saw its shares rise more than 2% after posting better-than-expected quarterly results, despite lockdowns in China weighing on its performance. In the United States, however, net sales increased 9% to $8.15 billion and comparable store sales increased 3%.
– CNBC’s Sarah Min and Yun Li contributed reporting.