Ben Silbermann, co-founder and chief executive officer of Pinterest Inc., center, rings the opening bell on the floor on the New York Stock Exchange during the company’s initial public offering (IPO) in New York, on Thursday, April 18, 2019.
Michael Nagle | Bloomberg | Getty Images
Check out the companies making headlines after the bell.
Shares of Pinterest climbed as much as 15% in after-hours trading after the social media company reported second-quarter earnings that beat Wall Street’s expectations. The company’s reported a loss of $26 million for its adjusted EBITDA, versus the loss of $39 million analysts had been expecting. Pinterest saw a revenue of $261 million for the quarter — analysts had been expecting $236 million.The company also raised its 2019 revenue guidance above analysts’ estimates. Pinterest expects to report revenue between $1.095 billion to $1.115 billion versus consensus estimates of $1.079 billion.The company said in May it saw significant growth in countries like the U.K. and Canada, and has rolled out a number of new updates to its platform in recent months around shopping and wellness.
Etsy fell 7.5% following the release of the e-commerce marketplace reported mixed second-quarter earnings. The company reported earnings per share of 14 cents on revenue of $181 million. Analysts had expected earnings per share of 13 cents on revenue of $183 million, according to Refinitiv. “We are making great progress improving our product experience and marketing capabilities,” Etsy CEO Josh Silverman said in a statement. He added that the company has “bold new initiatives” which it believes will enhance the shipping experience, among other things.
Square fell as much as 8% after the payments company beat Wall Street’s expectations for its second-quarter earnings and revenue but reported a guidance weaker than expected. The company reported adjusted earnings per share of 21 cents on revenue of $563 million, versus the earnings per share of 17 cents on revenue of $557 million analysts surveyed by Refinitiv had been expecting. For the third quarter, Square forecasted earnings per share of between 18 cents and 20 centss per share, compared to 22 cents analysts had estimated.
GoPro fell 3% after reporting worse-than-expected earnings for its second quarter. The camera maker reported adjusted earnings per share of 3 cents on revenue of $292 million, versus the earnings per share of 4 cents on revenue of $302 million analysts polled by Refinitiv had been expecting.
Shares of Glu Mobile plummeted 21% after the mobile gaming company beat analysts’ expectations with its second-quarter revenue, but dragged on bookings guidance. The company reported revenue of $101.9 million versus the $101.7 million analysts polled by Refinitiv had been expecting. Glu sees third-quarter bookings between $110 million and $112 million versus the estimated $121 million. For 2019, it sees between $406 million and $410 million, versus the estimated $446 million. In a statement, COO and CFO Eric Ludwig said, “We revised our annual guidance primarily to reflect the timing of new launches, contribution from newly launched titles and incremental UA investment to take advantage of favorable ROI opportunities.”
GoDaddy fell 4.4% after the announcement that its CEO Scott Wagner will step down for health reasons, despite the company beating Wall Street’s estimates for its second-quarter earnings. The web hosting company reported revenue of $737 million, versus the $735 million analysts surveyed by Refinitiv had been expecting. GoDaddy announced that Wagner will be replaced by Aman Bhutani, previously president of Brand Expedia Group.
