AFTERMARKET MOVES | AppLovin Surges 20% on Earnings Beat; Dutch Bros, Zillow Plunge on Weak Results

According to CNBC, AppLovin surged more than 20% after the mobile advertising software company posted third-quarter results that topped estimates, with adjusted EBITDA of $1.84 billion versus the $1.73 billion consensus and revenue of $2.18 billion exceeding the $2.07 billion forecast. Dutch Bros sank 19% after cutting its full-year adjusted EBITDA guidance to at least $380 million from a prior range of $385 million to $390 million, with third-quarter same-store sales of 4.4% missing the 4.6% estimate. Zillow dropped more than 16% after missing third-quarter estimates, reporting adjusted earnings of 55 cents per share versus 59 cents expected and revenue of $724 million versus $754 million. Fastly plummeted 16% despite beating estimates and guidance, as the company announced its Go To Market president Scott Lovett will retire in 2027. Qualcomm fell nearly 6% despite a slight earnings beat, with current-quarter adjusted earnings guidance of $2.15 to $2.35 per share falling short of the $2.26 analyst estimate. Expedia tumbled more than 7% on fourth-quarter revenue guidance of $3.69 billion to $3.75 billion, below the $3.74 billion consensus, despite third-quarter earnings and revenue beats. Snap slid 7% after third-quarter revenue of $1.72 billion narrowly missed estimates and daily active users of 495 million fell short of the 499 million expected. MercadoLibre dropped about 7% on earnings of $8.83 per share missing the $9.27 consensus, while revenue of $10.75 billion beat the $10.69 billion estimate. HubSpot fell more than 8% as fourth-quarter guidance of $3.85 to $3.87 per share on revenue of $945 million to $947 million missed expectations. Cava declined over 11% on third-quarter earnings of 11 cents per share versus 12 cents expected and revenue of $356 million versus $359 million. Figma dropped nearly 7% despite beating estimates with adjusted earnings of 10 cents per share on revenue of $391 million. Wolfspeed fell 5% on a wider-than-expected fiscal first-quarter adjusted loss of $2.03 per share versus the $1.99 estimate. Klaviyo slid about 5% despite beating estimates and raising full-year revenue guidance. Arm Holdings dipped almost 2% despite adjusted earnings of 52 cents per share beating the 47 cents estimate. Coherent gained 7% on adjusted earnings of $2.09 per share versus the $1.99 estimate, with revenue and guidance also above expectations. e.l.f. Beauty rose more than 4% on fiscal second-quarter adjusted earnings of $1.21 per share and revenue of $521 million, well above estimates.