Shares of Lyft Inc (NASDAQ:LYFT) skidded 6.8% after the bell Tuesday despite the ride-share company raising its third-quarter outlook above Wall Street estimates and posting a second-quarter earnings beat.
The company posted earnings of $0.16 per share, $0.17 better than the forecast loss per share of $0.01. Revenue was $1.02 billion, up 3% year-over-year and in line with the consensus analyst expectation per Zacks Consensus Estimate.
Take-Two Interactive Software stock improved 3.7% as anticipation of the next Grand Theft Auto game seemed to outweigh quarterly results that fell short of expectations and full-year guidance that got worse.
The video game publisher posted revenue of $1.28 billion and a loss of $1.22 per share in its fiscal first quarter, while Wall Street had projected $1.35 billion in revenue and a loss of $1.22 per share.
For the current quarter, Take-Two projected a loss of $1 to $0.90 per share on revenue of $1.26 billion to $1.31 billion. Analysts expect a loss of $0.70 on revenue of $1.4 billion.
Shares of Rivian Automotive ticked up 0.8% after the EV producer delivered a significant second-quarter earnings miss but production trended higher.
The company reported revenue of $1.12 billion, above the $1 million consensus projected by analysts, along with earnings of $1.08 per share, well short of an expected $1.41 per share.
Rivian delivered 12,640 EVs in the quarter, up 50% from the first quarter and above analyst expectations of about 11,000.
Duolingo Inc stock jumped 7.4% on second-quarter earnings that easily surpassed Wall Street’s expectations.
The language learning software company reported revenue of $126.8 million, up from $88.4 million in the same period last year, and earnings of $0.09 per share, compared to a loss of $0.38 per share a year ago.
Analysts had projected revenue of $123.7 million and a loss of $0.19 per share.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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