Stocks making the biggest moves after hours: Block, PayPal, Carvana, Twilio and more
Check out the companies making headlines after hours.
Block — The mobile payment stock jumped 12% after Block reported third-quarter results that beat on the top and bottom lines. Block reported earnings of 42 cents per share on revenue of $4.52 billion. Analysts polled by Refinitiv were forecasting earnings of 23 cents per share on revenue of $4.49 billion.
PayPal — Shares declined more than 6%. PayPal reported earnings that surpassed profit and sales expectations. CEO Dan Schulman announced the company is working with Apple to enhance offerings for PayPal and Venmo merchants and consumers.
Carvana — The online used car retailer stock dropped more than 8% after the company reported disappointing third-quarter results on the top and bottom lines, according to consensus estimates from Refinitiv. Carvana said it’s seeking to decrease expenses given the macro backdrop, and declined to give a 2023 quantitative outlook.
Twilio— Shares tumbled 16% after the cloud communications software maker issued a weaker-than-expected revenue forecast for the fourth quarter, despite an otherwise strong third-quarter report.
DoorDash — Shares of DoorDash surged 10% after the online food ordering company surpassed revenue expectations.
Coinbase — Shares popped 4% in extended trading after reporting better-than-expected user numbers, even as Coinbase reported a miss on profit and sales expectations.
Starbucks — Shares rose 2.3% after the coffee chain reported third-quarter results that topped expectations on the top and bottom lines driven by consumers spending more on their drink orders.
Expedia — The stock rose 2.7%. Expedia reported a revenue beat in its third-quarter results, while falling short of earnings per share estimates, according to consensus estimates from Refinitiv.
Warner Bros. Discovery — The stock dipped 5% after Warner Bros. Discovery reported third-quarter revenue that missed analysts’ expectations, citing a tougher backdrop for advertising and elevated costs from its restructuring.
