Here are some of the stocks that experienced movement in their value after the market closed on Wednesday, April 26, 2023.
Meta- Shares of Meta platforms go up following the release of its first quarter report. The company's financial results exceeded the anticipated figures and Meta also revised its projection for the current quarter upwards and lowered its expenditure estimate.
In the previous month, Meta disclosed its plan to terminate the employment of 10,000 employees in addition to the job cuts it had already announced in November.
As of last year, Meta announced that it would focus on strengthening and developing Metaverse. However, as the AI industry experiences a surge in demand, the social media technology firm has shifted its focus towards artificial intelligence.
Roku – Roku (ROKU) reported a loss per share of $1.28 for the first quarter, which was less than the anticipated loss of $1.37 as Wall Street had predicted. The company's net revenue increased by 1.1%, reaching $741 million.
According to the shareholder letter released by the company, the sales of smart TV units in the United States remained strong during Q1 due to the reduced cost of TV panels and shipping as well as increased consumer spending due to income tax refunds. The demand for value, especially in a challenging macroeconomic environment, was also advantageous for Roku.
The company that produces streaming video players has projected its net revenue for the second quarter to be roughly $770 million, which is slightly higher than the predicted figure of $764.4 million based on market consensus.
The company’s shares increased by over 2% during after-hours trading.
eBay- After exceeding market expectations in terms of revenue and profits for the quarter and providing revenue guidance that surpassed predictions, the value of Ebay's (EBAY) shares surged by 2.8% during post-market trading; eBay shares jumped by 2% in the after-market trading.
The online marketplace expects that its revenue for the second quarter will range between $2.47 billion and $2.54 billion, which is higher than the expected figure of $2.43 billion.
The company's revenue for the first quarter was $2.5 billion, exceeding the expected figure of $2.48 billion set by Wall Street. Additionally, the adjusted earnings per share for the same period were $1.11, which surpassed the projected figure of $1.07.
Teladoc- The company's revenue for the given period had grown by 11% year-over-year to $629.24 million, surpassing the expected figure of $618.41 million. Additionally, its loss per share was 42 cents, which was less than the Wall Street estimate of 51 cents.
Teladoc's shares have witnessed a surge during the pandemic with its highest point being in January 2021, when it reached an all-time high of $260. The stock rose by roughly 9% this year and after-hours trading caused it to increase by over 4%. Furthermore, Teladoc (TDOC) is one of the stocks that are part of Cathie Wood's Ark Innovation ETF (ARKK).
