Market Updates
U.S. Movers: Bumble, Duolingo, Eli Lilly, Warner Bros Discovery, Zillow Group
Scott Peters
08 Aug, 2024
New York City
Warner Bros. Discovery dropped 10% to $6.93 after the media company reported disappointing second-quarter results, and the company took a one-time write-down of $9.1 billion.
Bumble Inc. declined 40.5% to $4.79 after the online dating platform reported weaker-than-expected revenue in the second quarter.
Duolingo soared 7.2% to $173.0 after the online language learning app developer reported better-than-expected quarterly results.
Eli Lilly increased 12.1% to $865.0 after the pharmaceutical company reported better-than-expected second-quarter earnings.
The company also raised its full-year outlook due to the strong demand for its obesity drug Zepbound and diabetes treatment Mounjaro.
Zillow Group rose 13.8% to $47.55 after the real estate platform operator reported better-than-expected second quarter results.
Revenue increased 13% to $572 million from $509 million, net loss shrank to $17 million from $35 million, and diluted loss per share decreased to 7 cents from 15 cents a year ago.
The company guided revenue in the third quarter to range between $545 million and $560 million, and added that available stock repurchase authorization was $381 million at the end of the second quarter.
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Earnings
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