A man checks his smartphone while standing among illuminated screens bearing the Uber logo.
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Check out the companies making headlines after the bell:
Shares of Uber plummeted 12% before settling 4% below its closing price in after-hours trading following the transportation and food ordering service company’s disappointing second-quarter earnings. Uber reported a second-quarter loss per share of $4.72 on revenue of $3.17 billion. Analysts had expected a loss per share of $3.12 on revenue of $3.36 billion, according to Refinitiv consensus estimates. CEO Dara Khosrowshahi said she does not expect Uber Eats to be profitable in the next year. Uber Eats generated $3.39 billion in gross bookings, which fell below analysts’ expectations of $3.51 billion.
Broadcom rose about 1% after announcing that it would acquire Symantec for $10.7 billion. The semiconductor company said it expects the acquisition to result in more than $1 billion in run-rate cost synergies in the 12 months following the deal’s close.
Shares of cybersecurity company Symantec gained more than 2% after the announcement. The company also reported first-quarter adjusted earnings per share of 43 cents on revenue of $1.25 billion. Analysts had expected earnings per share of 33 cents on revenue of $1.19 billion, according to Refinitiv consensus estimates.
Yelp jumped 4% after announcing its second-quarter earnings. The review forum company reported second-quarter earnings per share of 16 cents on revenue of $247 million. Analysts had expected earnings per share of 12 cents on revenue of $247 million, according to Refinitiv consensus estimates. Yelp announced that CFO Lanny Baker will step down in September, as he becomes CFO of Eventbrite.
Shares of Farfetch cratered more than 40% after cutting its gross merchandise value growth expectations. The company said it now expects 37% to 40% growth year over year, down from its previous forecast for 41%. Farfetch also said COO Andrew Robb is stepping down after nine years in the role.
The online luxury fashion retail company reported an adjusted loss per share of 15 cents on revenue of $209.3 million. Analysts had expected a loss per share of 21 cents on revenue of $199.1 million, according to Refinitiv estimates.