A look at companies that are catching our eye in after-hours trading: Paramount Global — The media company rose 5.7% after second-quarter profit beat expectations by a wide margin, reporting a profit of 54 cents per share compared to the 12 cents expected by analysts surveyed by LSEG. Paramount’s revenue for the quarter was $6.81 billion, falling short of the $7.21 billion forecast, marking the company’s biggest shortfall against analyst expectations since February 2020. Paramount also announced it would cut 15% of its U.S. workforce as part of a broader cost-cutting plan ahead of its merger with Skydance Media. Expedia — Shares fell 2.2% after Expedia said in July that the macroeconomic environment was becoming more challenging and travel demand was weakening. However, the online travel company beat expectations, reporting earnings per share of $3.51 on revenue of $3.56 billion, while analysts surveyed by LSEG were expecting earnings per share of $3.06 on revenue of $3.53 billion. Unity Software — Shares fell 4.6% after the video game software developer beat Wall Street expectations for profit and revenue but missed expectations for third-quarter revenue, predicting $415 million to $420 million versus expectations of $458 million. Unity reported a loss of 32 cents per share on revenue of $449 million in the second quarter, while analysts surveyed by LSEG were expecting a loss of 42 cents per share on revenue of $440 million. Take-Two Interactive Software — The video game maker rose 4.8% after it reported second-quarter earnings of 5 cents a share, while analysts surveyed by FactSet had expected a loss of 2 cents a share. Take-Two missed expectations with quarterly revenue of $1.22 billion compared with $1.25 billion expected, but reported $1.25 billion. Take-Two reaffirmed its full-year adjusted earnings and bookings expectations. ELF Beauty — The beauty products retailer fell more than 5.8% after issuing cautious guidance, despite a 50% increase in sales and beating analysts’ quarterly expectations on sales and earnings. ELF said LSEG reported adjusted earnings of $1.10 a share, beating analysts’ expectations of 84 cents. Second-quarter revenue was $324 million, compared with $305 million expected. Doximity — Shares of the digital health platform soared 25% after it reported first-quarter earnings of 28 cents a share excluding non-recurring items, beating the market consensus of 22 cents, according to FactSet. Second-quarter and full-year projected revenue and adjusted EBITDA guidance also beat expectations. Capri Holdings — The parent company of Michael Kors fell 4.2% in after-hours trading, dragged down by disappointing quarterly results. The fashion company reported earnings of 4 cents a share on revenue of $1.07 billion, while analysts surveyed by LSEG were expecting earnings of 59 cents a share on revenue of $1.16 billion. The Trade Desk — Ad-buying platform The Trade Desk rose 5% after reporting second-quarter earnings of 39 cents a share excluding items, beating analysts’ expectations of 36 cents a share, according to FactSet. Revenue for the period was $585 million, beating analysts’ expectations of $578 million. Sweetgreen — The salad chain jumped nearly 20%. Sweetgreen reported second-quarter revenue of $184.6 million, beating analysts’ expectations of $181 million, according to LSEG. Its full-year revenue outlook is $670 million to $680 million, beating the consensus estimate of $674 million. Insulet — Shares of the insulin delivery system maker fell 1%, but Insulet reported second-quarter revenue of $488.5 million, below analysts’ expectations of $463.5 million, according to LSEG. Akamai Technologies — The cloud company rose 3% after second-quarter results beat analysts’ expectations. Akamai reported adjusted earnings of $1.58 per share on revenue of $980 million, compared with the market’s expectations of $1.53 per share profit on $977 million in revenue. First-quarter EPS (excluding items) of 74 cents beat analysts’ expectations of 58 cents, and sales of $3.24 billion beat expectations of $3.14 billion, according to FactSet. EPS guidance for the current quarter and full year also beat market expectations. —Dara Mercado and Scott Schnipper contributed to the report.
Biggest movers in after-hours trading: PARA, EXPE, ELF
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