Check out the companies making headlines in after-hours trading. Reddit — The social media stock popped nearly 18% on the back of a better-than-expected quarterly earnings in its first report since the company’s initial public offering in March. Reddit saw a faster rate of advertising revenue growth than its top competitors. Reddit posted $243 million in revenue, while analysts polled by FactSet forecast $212.8 million. Reddit’s loss per share of $8.19 for the period may not compare with the loss of $8.71 expected by analysts surveyed by LSEG. Lyft — The ride-share company advanced more than 3% after first-quarter sales and earnings beat analysts’ estimates. Lyft reported adjusted earnings of 15 cents per share on $1.28 billion in revenue. Analysts polled by LSEG forecast earnings of 3 cents per share on $1.16 billion in revenue. Rivian Automotive — The electric vehicle manufacturer lost more than 3%. Rivian said it lost $38,784 per vehicle delivered in the first quarter, but following a retooling upgrade, the company expects “significant improvement in the material and conversion cost of its vehicles and remains confident in its path to achieving modest gross profit in the fourth quarter of this year.” Rivian posted revenue of $1.2 billion, beating analysts’ estimates of $1.16 billion, according to LSEG. Wynn Resorts — The resort and casino stock added 2.3% o …
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[mwai_chat context=”Let’s have a discussion about this article:nnCheck out the companies making headlines in after-hours trading. Reddit — The social media stock popped nearly 18% on the back of a better-than-expected quarterly earnings in its first report since the company’s initial public offering in March. Reddit saw a faster rate of advertising revenue growth than its top competitors. Reddit posted $243 million in revenue, while analysts polled by FactSet forecast $212.8 million. Reddit’s loss per share of $8.19 for the period may not compare with the loss of $8.71 expected by analysts surveyed by LSEG. Lyft — The ride-share company advanced more than 3% after first-quarter sales and earnings beat analysts’ estimates. Lyft reported adjusted earnings of 15 cents per share on $1.28 billion in revenue. Analysts polled by LSEG forecast earnings of 3 cents per share on $1.16 billion in revenue. Rivian Automotive — The electric vehicle manufacturer lost more than 3%. Rivian said it lost $38,784 per vehicle delivered in the first quarter, but following a retooling upgrade, the company expects “significant improvement in the material and conversion cost of its vehicles and remains confident in its path to achieving modest gross profit in the fourth quarter of this year.” Rivian posted revenue of $1.2 billion, beating analysts’ estimates of $1.16 billion, according to LSEG. Wynn Resorts — The resort and casino stock added 2.3% o …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
