A Carvana glass tower sits illuminated on Feb. 23, 2022, in Oak Brook, Illinois.
Armando L. Sanchez | Tribune News Service | Getty Images
Check out the companies making headlines after hours.
Carvana — Shares rose 1.7%. CEO Ernie Garcia, in a statement, said that over the next six months, the company will work to complete an estimated $1 billion in annual cost reduction. The online used car retailer reported a loss of $7.61 per share, greater than the forecasted loss of $2.28 per share, according to consensus estimates from Refinitiv. Carvana generated revenue of $2.84 billion, lower than the anticipated $3.1 billion.
Block — The mobile payment stock climbed 6.5% after Block reported better-than-expected revenue in its fourth-quarter results. The company posted revenue of $4.65 billion, beating Refinitiv consensus estimates for $4.61 billion. However, Block missed estimates, posting adjusted earnings of 22 cents per share compared to expectations for 30 cents per share.
Warner Bros. Discovery — Shares fell nearly 1% in extended trading after Warner Bros. Discovery posted disappointing results in its latest quarter. The media and entertainment conglomerate reported a loss of 86 cents per share on revenue of $11.01 billion. Analysts polled by Refinitiv called for a loss of 21 cents per share on revenue of $11.36 billion.
Beyond Meat — Beyond Meat shares jumped more than 12% after the plant-based meat company reported a smaller-than-expected loss in its fourth quarter, even with sales falling more than 20%. Beyond Meat reported a loss per share of $1.05, lower than the expected $1.18, according to a survey of analysts by Refinitiv. The firm generated revenue of $79.9 million, greater than the $75.7 million expected.
Boeing — The airline stock dipped 3% after Boeing temporarily paused deliveries of its 787 Dreamliners as it does more analysis on a fuselage component, the Federal Aviation Administration said to CNBC on Thursday.
Autodesk — The software company’s shares slid 3% after Autodesk provided soft guidance on first-quarter earnings. The company beat analysts’ expectations on the top and bottom line for the fourth quarter, however, according to Refinitiv.
EOG Resources — The energy stock fell 4% after EOG Resources reported fourth-quarter per-share earnings, excluding items, that were short of analysts’ expectations, according to FactSet. The company beat on revenue, however.
MercadoLibre — Shares of the South American e-commerce company jumped 4% in extended trading. MercadoLibre posted fourth-quarter earnings of $3.25 per share on revenue of $3 billion. Analysts surveyed by FactSet were anticipating earnings of $2.42 per share and revenue of $2.96 billion.
— CNBC’s Darla Mercado contributed to this report.
(With inputs from CNBC)
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