Market Updates
U.S. Movers: Block, Carvana, Intuit, Live Nation, Warner Bros. Discovery
Scott Peters
23 Feb, 2024
New York City
Intuit declined 1.2% to $650.0 after the accounting software developer reported mixed quarterly results.
Live Nation Entertainment soared 5.4% to $98.50 after the entertainment company reported strong revenue in the fourth quarter after business picked up around the world.
Booking Holdings decreased 7.3% to $3,625.0 after the online travel company reported stronger-than-expected quarterly results, and the company said it plans to launch a quarterly cash dividend of $8.75 per share.
Carvana soared 24.5% to $65.50 after the user-car marketplace operator reported its first-ever annual profit.
In the fourth quarter, Carvana sold 76,090 vehicles and generated sales of $2.4 billion.
In 2023, Carvana sold 312,847 vehicles for a total revenue of $10.7 billion and swung to a net income of $150 million, partly due to gains on debt reduction.
Warner Bros. Discovery dropped 8.6% to $8.75 after the media conglomerate reported weaker-than-expected fourth-quarter results.
Block soared 17% to $79.60 after the company reported better-than-expected revenue of $5.7 billion in the fourth quarter and an unexpected profit.
In the quarter, the company swung to a net income of $178 million from a loss of $114 million.
Full-year revenue rose to $7.5 billion from $6 billion, net income soared to $10 million from a loss of $541 million, and diluted earnings per share rose to 2 cents from a loss of 93 cents a year ago.
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Earnings
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