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    • Breaking News
    May 10, 2023
    • GoodRx Holdings Inc decreased 5.1% to $4.45 after the company reported quarterly results that were ahead of market's expectations but the online pharmacy estimated weaker-than-expected second quarter and full-year results. 

      Revenue declined to $183.9 million from $203.3 million and the company swung to a net loss of $3.3 million from a profit of $12.3 million and diluted earnings per share was ($0.01) compared to 3 cents a year ago. 

      Net loss in the quarter was impacted by $25.5 million of stock-based compensation expense, $6.9 million of which related to the non-recurring awards  granted to co-founders in connection with the company's initial public offering. 

      As of the end of March, GoodRx had cash and cash equivalents of $761.1 million and total outstanding debt of $665.3 million.
      • Rivian Automotive Inc soared 8.2% to $15.0 after the electric vehicle maker reiterated its 2023 production target of 50,000 trucks and reported narrower-than-expected quarterly loss. 

        The company delivered 7,946 vehicles and produced 9,395 vehicles in the first quarter.  

        Revenue in the first quarter surged six-fold to $661 million from $95 million and net loss narrowed to $1.4 billion from $1.6 billion and diluted loss per share shrank to $1.45 from $1.77 a year ago. 

        The company confirmed its capital expenditure in 2023 of $2 billion and adjusted operating earnings of $4.3 billion. 

        Negative free cash flow increased to $1.8 billion from $1.45 billion in the quarter a year ago. 
        • Akamai Technologies Inc increased 5.1% to $82.90 after the cloud computing services provider lifted its annual revenue outlook on better-than-expected quarterly results. 

          Revenue in the first quarter increased to $915.7 million from $903.6 million and net income dropped to $97.1 million from $133.4 million and diluted earnings per share fell to 62 cents from 82 cents a year ago. 

          The company estimated revenue in the second quarter between $927 million and $937 million and for the full-year 2023 between $3.740 billion and $3.785 billion. 

          Akamai forecasted capital expenditure as a percentage of revenue to range between 21% and 22% in the second quarter and between 18.5% and 19.0% in the full-year 2023. 
          • May 9, 2023
          • Lucid Group said revenue in the first quarter increased to $149.4 million from $57.7 million and net loss widened to $779.5 million from $604.7 million and diluted loss per share increased to 43 cents from 36 cents a year ago. 

            The electric vehicle company produced 2,314 units and delivered 1,406 units. The company said liquidity at the end of the quarter was $4.1 billion.  

             
            • PayPal Holdings Inc said net revenue in the first quarter increased 9% to $7.04 billion from $6.5 billion and net income increased 56% to $795 million from $509 million and diluted earnings per share increased to 70 cents from 43 cents a year ago. 

              Total payment volume soared 10% from a year ago to $354.5 billion from $322.9 billion and payment transactions rose 13% to 5.8 billion. 

              Total active accounts on a trailing 12 months basis increased 1% to 433 million and payment transactions per active accounts increased 13% to 53.1 million. 

              In the first quarter, the company repurchased approximately 19 million of its shares for $1.4 billion and repurchased approximately 48 million shares for $4.1 billion.  
              • Fresenius Medical SE increased 6.9% to €27.21 after the German dialysis company reported adjusted earnings that were ahead of expectations. 

                Revenue in the first quarter increased 3.4% to €4.7 billion and net income fell 45.1% to €86 million from €157 million and basic earnings per share declined to 29 cents from 54 cents a year ago. 

                Adjusted earnings per share, which excludes the U.S. Provider Relief Funding and Ukraine war related items among other adjustments, declined to 53 cents from 67 cents a year ago. 

                Fresenius forecasted 2023 annual revenue "to grow at a low to mid-single digit percentage rate" from €19.39 billion and operating income to remain "flat or decline by up to a high-single digit percentage rate" from €1.54 billion. 
                • Semrush Holdings, Inc decreased 11.9% to $8.68 after the cloud based services provider reported first quarter results. 

                  Revenue in the first quarter increased 24% to $70.9 million and average revenue run rate advanced 23% to $293 million and paying customers increased 15% to above 100,000. 

                  Free active customers increased 36% to 885,000 and the number of customers paying more than $10,000 increased 45%.  

                  Net loss in the quarter increased to $9.9 million from $2.9 million and diluted loss per share expanded to 7 cents from 2 cents a year ago. 

                  The company forecasted second quarter revenue to increase 19% at mid-point of the range between $73.6 million and $75 million and non-GAAP earnings between $1.5 million and $3.0 million.

                  For the full-year 2023, the company estimated revenue between $306.0 million and $309.0 million and non-GAAP net income between breakeven and $3.0 million. 
                  • SeaWorld Entertainment Inc increased 5.3% to $59.43 after the company reported a record park attendance in the first quarter. 

                    Revenue in the first quarter increased 8.4% to $293.3 million and net loss expanded to $16.5 million from $9.0 million and diluted loss per share increased to 26 cents from 12 cents a year ago. 

                    The company reported record revenue for the eighth quarter in a row. 

                    Total revenue per person increased 9.2% to $86.84, driven by admission per person increased 9.4% to $48.51 and 8.9% increase in in-park spending to $38.33. 

                    After the end of the first quarter, the company repurchased 235,000 shares for $13.9 million, leaving approximately $42.4 million remaining in its stock repurchase program as of May 4. 
                    • Warby Parker Inc declined 2.2% to $11.86 after the company reiterated its annual revenue outlook. 

                      Revenue in the first quarter increased 12.2% to $172 million and average revenue per customer increased 8.4% to $270 and active customers increased 2.5% to 2.29 million.

                      The company opened 6 new stores in the quarter and the total store count increased to 204. 

                      Net loss in the quarter shrank $10.8 million from $34.1 million and diluted loss per share fell to 9 cents from 30 cents a year ago. 

                      The company reiterated its full-year 2023 revenue outlook between $645 million and $660 million, an increase between 8% and 10% from the previous year. 
                      • May 5, 2023
                      • Lyft Inc plunged 13.9% to $9.20 after the ride-hailing company reported a larger-than-expected loss despite healthy demand for its services. 

                        Revenue in the first quarter increased 14% to $1.0 billion and net loss in the quarter shrank to $187.6 million from $196.9 million and diluted loss per share fell to 50 cents from 57 cents a year ago. 

                        Active riders in the first quarter increased 9.8% to 19.55 million from 17.8 million and revenue per active rider increased 4% to $51.17.