Coinbase (COIN): Shares of the cryptocurrency exchange fell in after-hours trading after reporting wider-than-expected losses and a 63% drop in revenue. The number of users transacting monthly totaled 9 million in the second quarter, down from 9.2 million in the previous quarter.

Total trading volume fell 30% compared to Q1 to $217 billion. Devin Ryan of JMP Securities told Yahoo Finance that ‘although trading volumes were in line with expectations, they still make slightly less money on institutional trading spreads.’ Transaction revenue fell 66% from a year ago to $655.2 million.

Roblox (RBLX): Shares of Roblox were hit in the hours after a drop in second-quarter bookings. Bookings for the quarter totaled $639.9 million, down 4% from a year ago. The gaming company reported a loss of 30 cents per share, which was higher than the 25 cents per share loss it posted a year earlier. Average daily active users increased 21% to 52.2 million, but average bookings for each daily user declined to $12.25, down 21% from the year-ago period.

Sweetgreen (SG): The salad chain sold shares in after-hours trading after cutting its full-year revenue forecast due to a ‘softness’ and its fiscal year sales outlook up 20% to 26% from 13% to 19% decreased with the increase of. The company also announced that it is cutting its workforce by 5% and reducing office space in an effort to reduce costs.

SweetGreen CFO Mitch Ryback noted in the earnings release that the company began to see revenue softening around Memorial Day, and “will continue to manage corporate overhead and run our restaurants efficiently as we work toward profitability.” ”

The Trade Desk (TTD): Strong revenue growth and encouraging third-quarter guidance led shares jump. Adjusted earnings per share rose 11% to 20 cents from a year ago, driven by a 35% increase in sales to $377 million. Trade Desk CEO and co-founder Jeff Greene wrote in the earnings release that the strong sales “give 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, well above estimates of $382.1 million down the road.

Wynn Resorts (WYNN): The stock fell after weakness in Macau, which dented revenue. Operating revenue during the quarter totaled $908.8 million, down from $990.1 million a year ago. The casino operator reported that its Macau hotel was up 31.3%, down from 68% a year earlier, and hotel occupancy at the Palace missed Wall Street’s estimates.

Leave a Reply

Your email address will not be published. Required fields are marked *