The top trending after-hours tickers on Yahoo Finance:
Coinbase (COIN): Shares of the cryptocurrency exchange fell in after-hours trading after reporting a wider-than-expected loss and a 63% drop in revenue. Monthly transacting users totaled 9 million for the second quarter, down from 9.2 million in the prior quarter. Total trading volume declined to $217 billion, down 30% compared to Q1. JMP Securities’ Devin Ryan told Yahoo Finance that ‘even though trading volumes were right in line with expectations, they make a little bit less money on institutional trading spreads.’ Transaction revenue fell 66% from a year ago to $655.2 million.
Roblox (RBLX): A drop in second-quarter bookings weighed on Roblox shares in after-hours. Booking for the quarter totaled $639.9 million, down 4% from a year ago. The gaming company reported a loss of 30 cents a share, wider than the 25 cents a share loss posted a year ago. Average daily active users rose 21% to 52.2 million, but average booking for each daily user declined to $12.25, down 21% from the year-ago period.
Sweetgreen (SG): Shares sold off in after-hours trading after the salad chain cut its full-year revenue forecast due to ‘softness’ and slashed its FY comp sales outlook to 13% to 19% growth from 20% to 26%. The company also announced it’s cutting 5% of its workforce and reducing office space in an effort to reduce costs. Sweetgreen CFO Mitch Reback noted in the earnings release that the company started to see softness in revenue around Memorial Day, and will “continue to manage corporate overhead and efficiently run our restaurants as we work towards profitability.”
The Trade Desk (TTD): Shares jumped on strong revenue growth and upbeat third-quarter guidance. Adjusted earnings per shares were up 11% from a year ago to 20 cents, on a 35% rise in sales to $377 million. The Trade Desk CEO and co-founder Jeff Green wrote in the earnings release that the strong sales “gives us confidence that we will continue to gain market share in any market environment.” The Trade Desk sees revenue of at least $385 million in the third quarter, topping the street’s estimate of $382.1 million.
Wynn Resorts (WYNN): The stock fell after weakness in Macau led to a revenue miss. Operating revenue totaled $908.8 million during the quarter, a drop from $990.1 million a year ago. The casino operator reported that occupancy at its Macau hotel was 31.3%, down from 68% a year ago, and hotel occupancy at Palace missed Wall Street’s estimates.
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George is Digismak’s reported cum editor with 13 years of experience in Journalism