Here’s a look at some of the companies making waves in after-hours trading: Airbnb — Shares of the online booking company plunged 13% after its second-quarter profit fell short of Wall Street expectations. Airbnb reported profits of 86 cents per share, while analysts surveyed by LSEG had expected 92 cents. The company also said it was seeing signs of slowing demand from U.S. customers. Reddit — Shares fell 2% even though the company’s second-quarter results beat Wall Street expectations on revenue and profits. The social news company reported a higher-than-expected number of daily active users. Reddit also released its third-quarter revenue guidance, expecting $290 million to $310 million, while analysts surveyed by LSEG had expected $279 million. Wynn Resorts — Shares of the resort and casino operator rose 2% despite disappointing second-quarter results.Wynn reported adjusted earnings per share of $1.12 on revenue of $1.73 billion. That was below analysts surveyed by LSEG’s expectations of $1.14 per share and $1.75 billion in revenue. Rivian Automotive — Electric-vehicle shares fell more than 2% after the company reaffirmed guidance for an adjusted loss before interest, taxes, depreciation and amortization of $2.7 billion in 2024. For the second quarter, Rivian reported a smaller-than-expected adjusted loss of $1.13 per share and revenue of $1.16 billion, while analysts surveyed by LSEG had expected a loss of $1.21 per share and revenue of $1.14 billion. Supermicro Computer — The server company’s shares fell nearly 7%. Supermicro’s fourth-quarter adjusted earnings were $6.25 per share, while analysts surveyed by LSEG had expected $8.07 per share, according to LSEG. The company also announced a 10-for-1 stock split. Lumen Technologies — Shares of the communications company soared more than 77%. Lumen’s second-quarter revenue of $3.27 billion beat Wall Street expectations. Analysts surveyed by LSEG had expected revenue of $3.25 billion. Instacart — The grocery delivery stock rose 7% after second-quarter sales and profits beat expectations. Instacart’s earnings per share of 20 cents on revenue of $823 million beat analysts surveyed by LSEG’s expectations of 13 cents per share on revenue of $807 million. TripAdvisor — Shares fell more than 11% after second-quarter revenue fell short of expectations. The booking company reported revenue of $497 million, while analysts surveyed by LSEG were expecting $505 million. Adjusted earnings per share came in at 39 cents, beating expectations of 37 cents.
Biggest movers in after-hours trading: ABNB, SMCI, TRIP, WYNN
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