Several companies made headlines in extended trading, with DoorDash seeing a 13% drop in shares after its first-quarter report showed a wider-than-expected loss. Carvana, on the other hand, saw a 30% increase in shares after reporting revenue of $3.06 billion, surpassing Street expectations. Freshworks tumbled 19% despite beating expectations in the first quarter, as the company offered soft revenue guidance for the current quarter and full year. Etsy slid about 13%, eBay dropped 4%, Qualcomm rose more than 4%, Schrodinger fell 8%, Qorvo dropped 11%, Envista sank 3.8%, Openlane fell almost 16%, and C.H. Robinson surged 13%.
DoorDash reported a loss of 6 cents per share on $2.51 billion in revenue, missing analyst expectations of a loss of 4 cents per share on $2.45 billion in revenue. Carvana exceeded expectations with revenue of $3.06 billion in the first quarter, higher than the consensus forecast of $2.67 billion. Freshworks offered conservative revenue guidance for the current quarter and full year, with forecasts of $168 million to $170 million for the second quarter and $695 million to $705 million for the full year, below analyst expectations of $172.1 million and $708.3 million, respectively.
Etsy reported adjusted earnings of 48 cents per share in the first quarter, slightly below the 49 cents per share expected by analysts. Revenue of $646 million was in line with expectations. eBay’s current-quarter revenue guidance fell short of expectations, with the company forecasting $2.49 billion to $2.54 billion in revenue, below analyst expectations of $2.56 billion. Qualcomm’s shares rose over 4% after hours, with the chipmaker posting $2.44 per share in adjusted earnings for its most recent quarter, above analyst estimates of $2.32 per share. Schrodinger posted a wider-than-expected loss of 76 cents per share, with revenue coming in at $36.6 million, less than the expected $42 million. Schrodinger also offered softer guidance for current-quarter revenue than analysts predicted.
Qorvo’s weak guidance for the fiscal first quarter led shares to drop 11%, with the company forecasting earnings of 60 cents to 80 cents per share, below analyst expectations of $1.27 per share. Envista, the maker of dental products, saw a 3.8% drop after first-quarter adjusted earnings of 26 cents per share missed analysts’ consensus estimate of 32 cents. Openlane, the vehicle wholesaler, dropped almost 16% after reporting first-quarter adjusted earnings of 19 cents per share, below the Street’s consensus estimate of 21 cents per share. C.H. Robinson, the freight logistics and trucking provider, saw a 13% surge in reaction to first-quarter adjusted earnings of 86 cents per share beating analysts’ consensus estimate of 63 cents.
