Stocks making the biggest moves after hours: DoorDash, Beyond Meat, AMC, Virgin Galactic & more
Check out the companies making headlines after the bell:
DoorDash — Shares of the food delivery company popped 12% after a revenue beat. DoorDash reported revenue of $1.61 billion in the second quarter, higher than the $1.52 billion analysts were expecting, according to Refinitiv. DoorDash said the total number of orders it delivered grew 23% year over year to 426 million, an all-time high. It did report a loss larger than expected for the quarter, however.
Beyond Meat — The alternative meat producer’s shares fell more than 2% after the company lowered its revenue forecast for 2022. Beyond Meat also announced it will trim its workforce by 4%, citing broader economic uncertainty. Beyond reported second-quarter net loss of $97.1 million, or $1.53 per share, wider than a net loss of $19.7 million, or 31 cents per share, a year earlier.
AMC Entertainment — Shares of the movie theater chain dropped 4% after the company said it plans to issue a dividend to shareholders in the form of preferred shares listed on the NYSE under the ticker APE. The name is a nod to its retail investors who supported the company during the meme-stock mania.
Virgin Galactic — The space stock tumbled more than 7% in after-hours trading after the company’s quarterly report. Virgin Galactic posted a net loss of $111 million in the second quarter, compared to a $94 million net loss in the same period a year ago. The company also delayed its commercial service launch to the second quarter of 2023.
Warner Bros. Discovery — Shares of the media giant fell 9% after the combined company disclosed a total direct-to-consumer subscriber base of 92.1 million. It marked the first time the company reported quarterly earnings since WarnerMedia and Discovery merged earlier this year.