Roku (ROKU): Shares plunged in extended trading after the company forecasted a wider-than-expected loss. Roku expects adjusted EBITDA of negative $135 million for the fourth quarter, more than three times what analysts were expecting. For the third quarter, revenue was $761.4 million, up 12% from a year ago, while average revenue per user rose 10% year-over-year to $44.25.
In the earnings release, Roku outlined plans to slow hiring, writing, “We will continue to slow headcount and OpEx growth in response to the macro environment, while continuing to make disciplined investments in our most strategic projects that will increase both the market penetration of our platform and long-term customer value.”
Qualcomm (QCOM): The chipmaker’s first-quarter guidance fell short of Wall Street estimates, putting pressure on shares in extended trading. Qualcomm sees fiscal first-quarter adjusted earnings of $2.25 to $2.45 per share on revenue of $9.2 billion to $10 billion. Susquehanna International Group (SIG) Senior Equity Analyst Christopher Rolland told Yahoo Finance that Qualcomm’s forecast is the company’s “worst guide in years.” Qualcomm also warned of rapid weakening in demand and elevated inventory levels.
Etsy (ETSY): Shares jumped after hours after the company’s revenue and gross merchandise sales (GMS) topped expectations. Third quarter revenue was $594.5 million, up 12% from a year ago, while gross merchandise sales reached $3 billion.
Booking Holdings (BKNG): The summer travel boom helped drive Booking’s third-quarter results as the company more than doubled its profit from a year ago. Revenue of $6.05 billion topped analyst expectations. Room nights booked in the third quarter rose 31%. In the earnings release, CEO Glenn Foge noted “improvement in room night trends” despite rising concern around macroeconomic headwinds.
Robinhood (HOOD): Shares climbed 3% in extended trading after Robinhood reported a smaller-than-expected loss. Net loss was $175 million, or 20 cents per share, compared with net loss of $295 million the prior quarter. Revenue was $361 million, topping expectations.