Chegg, Simon Property, Activision Blizzard, Take Two Interactive, Spirit

Chegg (CHGG)

Shares of Chegg fell about 20% after the education company’s 2023 revenue forecast fell short of Wall Street expectations. Chegg sees revenue of $745 million to $760 million against estimates of $820.5 million.

The company’s fourth-quarter adjusted earnings per share were 40 cents, higher than analyst expectations of 38 cents. Net sales for the same period were $205.2 million versus an estimate of $202.8 million.

Simon Real Estate Group (SPG)

Simon Real Estate Group’s fourth-quarter fund from operations came in at $3.15 a share versus analyst estimates of $2.87. The real estate company’s latest quarter revenue came in at $1.4 billion, beating expectations of $1.29 billion.

Simon Property announced that it will maintain its quarterly dividend at $1.80 per share.

Activating blizzard (ATVI)

Activision Blizzard posted a 43% year-over-year increase in net pre-orders to $3.57 billion last quarter, beating analyst estimates of $3.08 billion. The video game company’s adjusted earnings per share was $1.87 versus an estimate of $1.52. Monthly active users rose 4.9% year-on-year to 389 million, versus expectations of 388.4 million.

Take two interactions (TTTWO)

Take Two Interaction slashed net booking guidance for the full year, missing analysts’ estimates. The video game maker forecast net pre-orders of $5.2 billion to $5.25 billion versus an estimate of $5.48 billion.

The company’s latest quarter net bookings totaled $1.38 billion, versus estimates of $1.45 billion. Adjusted earnings per share of 86 cents were in line with expectations. Take Two posted total net sales of $1.41 billion, up 56% year-over-year.

spirit airline (RESCUE)

Shares of Spirit edged higher after the airline reported adjusted earnings per share of 12 cents, beating analyst estimates of 4 cents. Revenue of $1.39 billion also beat analysts’ expectations of $1.38 billion. The airline said entertainment demand remains strong and expects full-year 2023 capacity to grow 19%-22% compared to 2022.

Ines is a senior business reporter for Yahoo Finance. Follow her on Twitter at @ines_ferre

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