GameStop Corp (NYSE:GME) shares popped 7% in extended trading Wednesday as the video game retailer turned meme stock beat analysts’ expectations.
The company posted revenue of $1.16 billion for the quarter ended July 29, up from $1.14 billion a year earlier and ahead of expectations of $1.14 billion. Its adjusted loss of $0.03 per share was narrower than the $0.14 called for by analysts.
American Eagle Outfitters Inc. (NYSE:AEO) stock slid 2.3% after Wednesday’s close as the company reported second quarter 2023 earnings per share of $0.25, handily surpassing the analyst consensus forecast of $0.15.
The teen clothing retailer, meanwhile, generated record net revenue for the period of $1.2 billion, edging past expectations of $1.19 billion.
ChargePoint shares tumbled 9% after the EV charging company reported disappointing second quarter results coupled with a 10% reduction in workforce as it grapples with network reliability issues amid a steady cash burn.
The firm said it had $263.9 million in cash on the balance sheet, which includes $37.7 million of at-the-market share offering gross proceeds during the second quarter ended July 31, 2023.
C3.ai shares moved 7.3% lower after the company said it expects to report a wider than previously forecast loss for fiscal 2024 along with posting an earnings beat for the first quarter.
The AI company, which has seen its stock rise about 175% in the year to date, anticipates a loss from operations for the full year in the range of $70 to $100 million, above its earlier forecast of a loss between $50 to $75. It continues to expect full-year fiscal 2024 revenue of $295 to $320 million.
UiPath Inc (NYSE:PATH) stock rose 3.3% in after-hours trading Wednesday as the AI software company was the latest to benefit from a booming sector.
The New York-based company reported second-quarter revenue of $287.3 million, up 19% year over year and ahead of expectations of $281.5 million. Its loss came in at $60.36 million, $0.11 cents a share, compared to $120.4 million, $0.22 per share, in the year-ago quarter.