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Friday, March 24, 2023
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Airbnb, AMD, Electronic Arts, and more

Airbnb (ABNB): Shares fell in extended trading after the company warned of slowing fourth-quarter growth. Airbnb expects Nights and Experiences Booked growth to moderate slightly relative to the third quarter on a year over year basis, due in part to pressure from FX headwinds. For the third quarter, Airbnb posted its most profitable quarter and record revenue, while active listings rose 15% from a year ago. Nights and Experiences booked rose 25% from a year ago to 99.7 million.

Advanced Micro Devices (AMD): Shares pushed higher in extended trading after the chipmaker posted results that were ‘better than feared,’ CFRA’s Angelo Zino told Yahoo Finance. Revenue for the quarter was 5.6 billion while adjusted earnings were 67 cents per share. Fourth-quarter revenue guidance of $5.2 billion to $5.8 billion missed Wall Street’s expectations.

Mondelez (MDLZ): The company lifted its sales and profit forecasts and posted third-quarter results that beat expectations, pushing shares higher after hours. Sales were $7.76 billion, up 8.1% from a year ago. CEO Dirk Van de Put wrote in the earnings release, “Our third-quarter performance demonstrates the resilience of our snacking categories, strength of our brands, broad-based net revenue growth of both our emerging and developed markets, effective execution of pricing, and solid volume growth, enabling us to raise our full-year revenue and earnings outlook.”

Electronic Arts (EA): The company cut its full-year net bookings finance to $7.65 billion to $7.85 billion, down from its initial forecast of $7.9 billion to $8.1 billion. For the fiscal second quarter, EA’s net booking declined 5.2% from a year ago to $1.75 billion while full game revenue declined 2.4% year-over-year to $602 million.

Match (MTCH): Shares rose after the company’s fourth-quarter revenue topped estimates. Sales for the quarter were $809.5 million, up 1% from a year ago. Match also outlined plans to control costs, noting in the shareholder letter “Because we expect a challenging operating environment for the foreseeable future, we plan to accelerate our efforts to control costs, especially in headcount-related expenses and marketing spend, in other areas of the business.”

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