U.S. Movers: Alibaba Group, Carvana, Garmin, Walmart, Wix.com Ltd.

Scott Peters
20 Feb, 2025
New York City

Carvana Co. plunged 9.9% to $253.77 after the online used car retailer reported fourth quarter 2024 earnings results.

The company sold 114,379 retail units in the quarter, up 50% from a year ago.

Revenue increased to $3.5 billion from $2.4 billion, net income swung to a profit of $159 million from a loss of $200 million, and diluted earnings per share was 56 cents compared to a loss of $1.0 a year ago.

Garmin Ltd. gained 0.3% to $242.0 after the GPS-enabled products maker reported a 23% sales growth in the fourth quarter ended in December.

Net sales increased to $1.82 billion from $1.48 billion, net income declined to $435.73 million from $542.12 million, and earnings per diluted share fell to $2.25 from $2.82 a year ago.

The company proposed a cash dividend of $3.60 per share, payable in four equal installments: on June 27, 2025; September 26, 2025; December 26, 2025; and March 27, 2026.

The registration dates are June 16, 2025; September 12, 2025; December 12, 2025; and March 13, 2026.

For fiscal 2025, Garmin estimated revenue of $6.80 billion, an increase of 8% from $6.30 billion in 2024, and pro forma earnings per share of $7.80, compared to $7.39 per share in 2024.

Wix.com Ltd. eased 0.7% to $215.40 after the Israel-based software company reported a 14% revenue increase in the fourth quarter ended in December.

Revenue increased to $460.45 million from $403.77 million, net income surged to $48.02 million from $2.95 million, and earnings per diluted share climbed to 80 cents from 5 cents a year ago.

Total bookings amounted to $464.59 million, up from $395.00 million a year ago.

For the first quarter of 2025, the company estimated constant currency revenue growth between 13% and 14% to between $469 million and $473 million, compared to $419.8 million in the same quarter in 2024.

For the full year 2025, the company guided constant currency revenue growth between 14% and 16% to between $1.97 billion and $2.00 billion, compared to $1.76 billion in 2024.

Total bookings for 2025 are estimated to increase between 13% and 15% to between $2.02 billion and $2.06 billion, in constant currency, compared to $1.83 billion in 2024.

Alibaba Group Holding Ltd. surged 6.6% to $134.05 after the Chinese e-commerce company reported an 8% revenue growth for the fiscal third quarter ended in December.

Revenue increased to 280.15 billion yuan from 260.35 billion yuan, net income jumped to 48.94 billion yuan from 14.43 billion yuan, and earnings per diluted share rose to 2.55 yuan from 71 cents a year ago.

The company repurchased 119 million ordinary shares, equivalent to 15 million ADSs, for a total of $1.3 billion during the quarter.

Alibaba’s cloud intelligence segment marked a 13% growth to 31.74 billion yuan from 28.07 billion yuan a year ago.

The company announced its partnership with Apple Inc. to roll out artificial intelligence features for iPhones sold in the Chinese language.

Walmart Inc. dropped 8.7% to $94.94 despite the chain of grocery store operators reporting a revenue growth for the fourth quarter of 2025, supported by a 16% e-commerce expansion globally.

Revenue increased 4.1% to $180.55 billion from $173.39 billion, net income fell 4.4% to $5.25 billion from $5.49 billion, and diluted earnings per share dropped to 65 cents from 68 cents a year ago.

Comparable U.S. store sales, excluding fuel, increased 4.6%, driven by a 2.8% increase in transactions and a 1.2% increase in average ticket size. 

During the quarter, Walmart repurchased 15.9 million shares at an average price of $91.09 per share, worth $1.4 billion, and the remaining share repurchase authorization is $12.0 billion.

In addition, the company announced a 13% increase in its annual dividend for fiscal year 2026 to 94 cents per share.

For the first quarter of fiscal 2026, Walmart estimated a net sales increase between 3% and 4%, adjusted operating income up between 0.5% and 2%, and earnings per share between 57 cents and 58 cents, including a 2-cent impact from currency conversion.

In the first quarter of fiscal 2025, net sales were $159.9 billion, adjusted operating income was $7.1 billion, and adjusted earnings per share were 60 cents.

The guidance is provided on a non-GAAP basis.