An inflatable Disney+ logo is pictured at a press event ahead of launching a streaming service in the Middle East and North Africa, at Dubai Opera in Dubai, United Arab Emirates, June 7, 2022.
Yousef Saba | Reuter
Check out the companies making headlines after the bell.
Disney — The entertainment giant saw a 5% increase in its stock price during after-hours trading following the release of its quarterly results. Disney exceeded analysts’ expectations with adjusted earnings of $1.03 per share, while revenue fell slightly short of predictions at $22.33 billion. The company also experienced a 7% decrease in Disney+ subscribers, leading to the announcement of a streaming price increase.
Wynn Resorts — The casino stock rose 2.5% after the bell, surpassing expectations for its second-quarter performance. Wynn Resorts reported adjusted earnings of 91 cents per share on revenue of $1.6 billion, outperforming analysts’ predictions of 59 cents and $1.54 billion, respectively.
AppLovin — AppLovin experienced a 22% surge in its stock price after reporting strong second-quarter results and providing optimistic revenue guidance for the third quarter. The game developer expects to generate $780 million to $800 million in revenue, surpassing analysts’ expectations of $741 million. Additionally, AppLovin’s earnings of 22 cents per share for the second quarter exceeded the predicted 7 cents.
Illumina — Despite surpassing expectations for the second quarter, the DNA sequencing company saw its stock price drop more than 6% after the bell due to weaker-than-expected guidance. Illumina’s second-quarter results exceeded Wall Street’s predictions, but the company anticipates challenges in the second half of the year, including a slow recovery in China and cautious customer purchasing. Full-year revenue is expected to increase by only 1%, falling short of the anticipated 7.1% growth.
The Trade Desk — Despite posting better-than-expected quarterly results and providing slightly stronger guidance for the current period, shares of The Trade Desk dropped nearly 4% after the bell. The advertising technology company reported adjusted earnings of 28 cents per share on revenue of $464 million, surpassing analysts’ predictions of 26 cents per share on $455 million in revenue.
Sonos — The wireless speaker maker’s stock surged 11% in after-hours trading after reporting stronger-than-expected results. Sonos reported a loss of only 18 cents per share on revenue of $373 million, outperforming analysts’ anticipated loss of 20 cents per share on $334 million in revenue. Furthermore, the company raised its full-year EBITDA guidance.
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