DoorDash signs are painted on a restaurant on the day they held their IPO in New York, December 9, 2020.
Carlo Allegri | Reuters
Check out the companies that hit the headlines after the bell:
DoorDash – Shares of the food delivery company increased 12% after beat revenue. According to Refinitiv, DoorDash reported revenue of $1.61 billion in the second quarter, well above the $1.52 billion expected by analysts. DoorDash said the total number of orders it delivered increased 23% year-over-year to 426 million, an all-time high. However, it reported a larger-than-expected loss for the quarter.
Besides meat – Alternative meat producer’s stock fell more than 2% after the company Lower revenue forecast for 2022. Beyond Meat also announced it would cut 4% of its workforce, citing economic uncertainty. In addition to reporting a second-quarter net loss of $97.1 million, or $1.53 per share, broader than a $19.7 million net loss, or 31 cents per share, a year before.
AMC Entertainment The movie theater chain’s shares fell 4% after the company said it plans to pay dividends to shareholders in New York. form of preferred shares listed on the NYSE under the ticker APE. The name is a nod to retail investors who backed the company during the stock maze.
Virgin galaxy – Space shares fell more than 7% in after-hours trading following the company’s quarterly report. Virgin Galactic posted a net loss of $111 million in the second quarter, compared with a net loss of $94 million a year earlier. The company also delayed the launch of commercial services to the second quarter of 2023.
Discovery of Warner Bros. Shares of the media giant fell 9% after the combined company revealed a total of 92.1 million direct-to-consumer subscriptions. It marks the first time the company has reported quarterly earnings since WarnerMedia and Discovery merged earlier this year.