Find out about the companies making headlines for trading after hours. Reddit – Shares of social media companies rose nearly 18% on better-than-expected quarterly earnings in their first report since the company’s initial public offering in March. Reddit has posted higher ad revenue growth than its major competitors. Reddit reported revenue of $243 million, while analysts polled by FactSet had forecast $212.8 million. Reddit’s per-share loss of $8.19 for the period may not compare to the $8.71 loss expected by analysts polled by LSEG. Lyft — Shares of the ride-sharing company rose more than 3% after first-quarter sales and earnings beat analysts’ estimates. Lyft reported adjusted earnings of 15 cents per share on revenue of $1.28 billion. Analysts polled by LSEG forecast earnings of 3 cents per share on revenue of $1.16 billion. Rivian Automotive – The electric vehicle maker lost more than 3%. Rivian said it lost $38,784 on each vehicle delivered in the first quarter, but following equipment upgrades, the company expects “significant improvements in material costs and retooling of its vehicles and remains confident of its path to achieving modest gross margins in the fourth quarter.” this year.” According to LSEG, Rivian’s revenue was $1.2 billion, beating analysts’ estimates of $1.16 billion. Wynn Resorts — Shares of resorts and casinos added 2.3% on better-than-expected first-quarter earnings. Wynn reported earnings per share of $1.59 on revenue of $1.86 billion, while analysts polled by LSEG had forecast earnings per share of $1.27 and revenue of $1.79 billion. Electronic Arts – According to LSEG, the company The video games maker lost 4% in extended trading after fourth-quarter revenue of $1.67 billion on an order basis lagged analysts’ consensus estimate of $1.77 billion. Earnings per share were $1.52, although the figure was not comparable with analyst estimates. Cloud networking company Arista Networks earned $1.99 per share on revenue of $1.57 billion in the first quarter, while analysts polled by LSEG expected that. Earnings will be $1.74 per share and revenue will be $1.55 billion. Revenue forecasts for the current quarter ranged from $1.62 billion to $1.65 billion, while analysts had forecast $1.62 billion. Sonos – Shares of the audio product maker fell by 9% after it reported wider losses than Wall Street had expected. Sonos lost 56 cents per share in its fiscal second quarter, 10 cents more than analysts polled by LSEG had expected. However, the California-based company posted revenue of $253 million in the three-month period, beating the consensus estimate of $247 million. . Toast — Shares of the cloud-based restaurant management software company jumped more than 2% in extended trading after the earnings report. Toast reported first-quarter revenue of $1.08 billion, above the LSEG consensus estimate of $1.04 billion. The loss of 15 cents was 1 cent worse than the 14 cents expected. Twilio – Twilio shares fell more than 5%. The software company beat first-quarter earnings expectations by 20 cents per share and beat revenue estimates, but offered disappointing second-quarter revenue guidance. Twilio expects revenue to range from $1.05 billion to $1.06 billion, compared to LSEG’s average estimate of $1.08 billion. Cirrus Logic – Manufacturer of analog, mixed and audio DSP integrated circuits rose 11% after going public after as fiscal fourth-quarter earnings before items of $1.24 topped Wall Street’s highest estimate, according to FactSet. The first-quarter revenue forecast of $290 million to $350 million was also above the range of seven analysts. Myriad Genetics — The maker of molecular diagnostic tests jumped more than 6% after first-quarter revenue and EBITDA beat analysts’ consensus estimates, according to FactSet. The quarter “saw the first signs of market share gains in hereditary cancer and prenatal testing,” according to management. —Reporting by CNBC’s Tanaya Machil, Yoon Lee, Hakyung Kim, Pia Singh, Darla Mercado, Scott Schnipper and Samantha Soobin.
