eBay head offices in San Jose, California, U.S., on Monday, Aug. 9, 2021.
David Paul Morris | Bloomberg | Getty Images
Check out the business making headings after the bell Wednesday:
eBay — Shares of eBay are down 2.4% after the business reported frustrating earnings for the 2nd quarter. EBay published $2.67 billion in earnings for the quarter, missing out on a Refinitiv projection of $3 billion. Gross product volume likewise fell 7% on a year-over-year basis to $22.1 billion, and its third-quarter outlook fell light on both profits and earnings.
Sonos — The maker of audio items saw its stock dive 7% following its profits report, which was available in at 12 cents per share. Analysts surveyed by Refinitiv anticipated a loss of 17 cents per share. Sonos likewise tape-recorded strong profits of $378.7 million, compared to a price quote of $313.6 million. CEO Patrick Spence stated in a declaration that “with more video content going direct-to-home, consumers are demanding a theater-like audio experience in the home.”
Rackspace Technology — Shares of the cloud innovation services business fell more than 5% after a frustrating third-quarter projection eclipsed stronger-than-expected outcomes for the previous quarter. The business stated it anticipates third-quarter earnings to variety in between $750 million and $760 million. That’s listed below a StreetAccount price quote of $763.2 million. Rackspace did beat the Street on second-quarter profits and earnings, which were 24 cents per share and $744 million, respectively.
Lordstown Motors — The electrical car maker’s stock increased almost 4.5% regardless of the business publishing a bigger-than-expected loss for the 2nd quarter. Lordstown reported a loss of 61 cents per share. That’s bigger than the 49 cents per share experts surveyed by Refinitiv anticipated. Lordstown stated it still prepares to begin production on its electrical truck in September, with preliminary shipments starting in the very first quarter of 2022.
