Roku (ROKU): Shares tumbled in prolonged trading after the company forecast larger-than-expected losses. Roku expects adjusted EBITDA to be negative $135 million for the fourth quarter, more than three times what analysts expected. For the third quarter, revenue was $761.4 million, up 12% from a year ago, while average revenue per user increased 10% year over year to $44.25.
In the earnings release, Roku outlined a plan to slow hiring, writing: “We will continue to slow employee and OpEx growth in response to the macro environment, while continuing to continue to invest disciplined in our most strategic projects to increase the market penetration of our platform and long-term customer value. “
Qualcomm (QCOM): The chipmaker’s first-quarter guidance was lower than Wall Street estimates, weighing on stocks in extended trading. Qualcomm forecasts first-quarter adjusted financial earnings of $2.25 to $2.45 per share on revenue between $9.2 billion and $10 billion. Susquehanna International Group (SIG) senior equities analyst Christopher Rolland told Yahoo Finance that Qualcomm’s forecast is the company’s “worst guidance in years”. Qualcomm also warned of a rapid decline in demand and a build-up in inventories.
Etsy (ETSY): Shares jumped hours after the company’s revenue and gross merchandise sales (GMS) topped expectations. Q3 revenue was $594.5 million, up 12% from a year ago, while total merchandise sales came in at $3 billion.
Booking Holdings (BKNG): The summer travel boom helped boost Booking’s third-quarter results as the company more than doubled profits from a year ago. Revenue of $6.05 billion topped analyst expectations. The number of nights booked in the third quarter increased by 31%. In the earnings announcement, CEO Glenn Foge noted “an improvement in bedroom trends” despite increased concern around macroeconomic fluctuations.
Robin Hood hero (HOOD): Shares rose 3% in extended trading after Robinhood reported a smaller-than-expected loss. Net loss was $175 million, or 20 cents per share, compared with a net loss of $295 million the previous quarter. Revenue was $361 million, topping expectations.
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