Movers: Apple, Bumble, Carvana, DraftKings, DoorDash, Expedia Group, Lyft

Scott Peters
05 May, 2023
New York City

Apple Inc increased 2.7% to $170.26 after the maker of popular electronics gadgets reported higher-than-expected sales and earnings. 

Revenue in the fiscal second quarter ending on April 1 declined 3% to $94.8 billion and net income decreased to $24.2 billion from $25.0 billion and diluted earnings per share was unchanged at $1.52. 

Revenue in the Americas declined to $37.8 billion from $40.8 billion, in Europe edged up to $23.9 billion from $23.2 billion, in Greater China eased to $17.8 billion from $18.3 billion and in Japan eased to #7.2 billion from $7.7 billion. 

In the quarter, iPhone sales increased to $51.3 billion from $50.6 billion, Mac sales dropped to $7.2 billion from $10.4 billion, iPad sales to $6.6 billion from $7.6 billion and wearable and home and accessories were flat at $8.8 billion. 

Services revenue jumped to $20.9 billion from $19.8 billion a year ago.  

Bumble Inc jumped 8.1% to $19.06 after the online dating app operator reported strong activities on its platform. 

Total revenue in the first quarter increased 15.7% to $242.9 million from $210.0 million and the company swung to a net loss of $2.3 million from a profit of $23.7 million and diluted earnings per share fell to ($0.01) from 12 cents a year ago. 

Bumble App revenue rose 25.9% from a year ago to $194.3 million and Badoo App and other revenue declined 12.6% to $48.7 million. 

The company forecasted second quarter total revenue in the range of $254 million to $258 million and Bumble App revenue of $205 million to $208 million.

For the full-year 2023, the company estimated total revenue to grow between  16% to 19% and Bumble App revenue growth in the range of 22% to 25%.

Carvana Company soared 45% to $10.50 after the online used car dealer reported a smaller-than-expected quarterly loss. 

Total revenue in the first quarter declined 25% to $2.6 billion from 43.5 billion and net loss shrank to $286 million from $506 million and net loss per share dropped to $1.51 from $2.89 a year ago. 

Quarterly vehicle sales declined for the third quarter in a row to 79,240 units, a decrease of 25% from a year ago and total gross profit per unit improved by $1,470 to $4,303. 

DraftKings Inc jumped 14.6% to $24.43 after the sports betting company lifted its annual outlook on the back of a strong increase in its quarterly revenue. 

DoorDash Inc increased 4.1% to $65.40 after the online delivery platform lifted its annual outlook and the company said demand for its services remained strong. 

Revenue in the first quarter increased 40% to $2.04 billion from $1.45 billion and net loss shrank to $161 million from $167 million and diluted loss per share declined to 41 cents from 48 cents a year ago. 

Total orders increased 27% from a year ago to 512 million and Marketplace gross order volume increased 29% to $15.9 billion.

The delivery service provider forecasted second quarter marketplace gross order volume to be between $15.9 billion and $16.2 billion for the full-year 2023 between $63.0 billion and $64.5 billion.  

Expedia Group Inc soared 7.5% to $95.87 after the online travel booking platform reported record first quarter revenue and gross bookings soared 20%. 

Revenue in the first quarter increased 18% to a record $2.7 billion from $2.3 billion and net loss increased 18% to $145 million from $122 million and diluted loss per share expanded to 95 cents from 78 cents a year ago. 

Total gross bookings increased 20% to $29.4 billion and lodging bookings at $21.1 billion were at record levels. Booked room nights jumped 23% to 94.5 million from 77.0 million a year ago. 

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.