In this photo illustration, the logo of American tech company Block is displayed and reflected on a number of digital screens on March 3, 2023 in London, England.
Leon Neal | Getty Images
Let’s check out the companies that are becoming a hot topic for after-hours trading.
Intuit — Shares fell about 1% after the financial software company posted revenue of $3.39 billion in the second quarter. The results were in line with expectations of analysts surveyed by LSEG. Adjusted earnings beat Wall Street expectations at $2.63 per share, compared to analysts’ expectations of $2.30 per share.
Live Nation Entertainment — Shares rose about 1% in after-hours trading. Live Nation reported revenue of $5.84 billion, beating analysts’ expectations of $4.79 billion, according to LSEG. The company’s fourth-quarter operating profit was also slightly below consensus.
Booking Holdings — The online travel company fell more than 4% even though it reported fourth-quarter profit and revenue growth, despite a 9% increase in room reservations. Booking Holdings also announced that it will begin paying a quarterly cash dividend of $8.75 per share.
Insulet — The medical device company fell more than 5% after it released a weaker-than-expected revenue growth forecast. Inslet expects first-quarter sales to rise 17% to 20% from a year ago, compared with the 24.3% expected by analysts polled by FactSet.
Block — Shares of the payments company soared nearly 11% after fourth-quarter sales growth. Block reported revenue of $5.77 billion, compared to the $5.77 billion expected by analysts surveyed by LSEG. The company aims for gross profit of at least $8.65 billion in 2024, an increase of at least 15% from the previous year.
Carvana — Shares rose more than 20% after the auto reseller said it expected retail sales to rise in 2024, but did not provide specific numbers. Carvana’s fourth-quarter results came in at a loss of $1 per share on sales of $2.42 billion, falling short of analysts’ estimates compiled by LSEG.
MercadoLibre — The e-commerce company fell 8% after posting fourth-quarter profit of $3.25 per share, flat year-over-year. Excluding items, operating profit was $572 million, compared with analysts’ estimates compiled by FactSet of $668.5 million.
