DoorDash, Peloton, Etsy, Carvana, Novo Nordisk, and Qualcomm all experienced significant movements in their stock prices following their recent earnings reports.
DoorDash reported a wider-than-expected loss for the first quarter of the year, causing their stock to tumble by 10.5%. However, revenue grew by 23% to $2.51 billion, with gross order value climbing 21% to $19.2 billion. The growth in their core US restaurant segment slightly decelerated, and their current-quarter gross order value midpoint guidance fell slightly below analyst expectations.
Peloton also saw a significant drop in their stock price, slumping to an all-time low after announcing layoffs and the departure of CEO Barry McCarthy. They reported a loss of 45 cents per share, with revenue down 4.2%. Peloton shares are down 10.3%, resulting in a total loss of about 53% in value this year.
Etsy stock took a hit, diving 14% after missing earnings expectations. Gross merchandise sales fell to $2.99 billion from last year, with the CEO citing a challenging environment for discretionary spending.
On the other hand, Carvana celebrated roaring back into gains with a bullish outlook and a beat in Q1. They reported record profit, revenue, and adjusted earnings, causing their stock to surge by 32.5%. Novo Nordisk slipped despite beating earnings estimates, while Qualcomm saw a jump in their stock price as AI-equipped smartphones drove a strong outlook.
MGM Resorts and Qualcomm also saw gains in their stock prices on the back of better-than-expected revenue and earnings reports. Overall, the market has been volatile with these companies experiencing significant movements in their stock prices following their earnings announcements.