Qualcomm, Roku, Etsy and more

Roku (ROKU): Shares plunged in extended trading after the company forecast a bigger-than-expected loss. Roku expects negative adjusted EBITDA of $135 million for the fourth quarter, more than three times what analysts expected. For the third quarter, revenue was $761.4 million, up 12% from a year ago, while average revenue per user increased 10% year-over-year to 44 $.25.

In the earnings release, Roku outlined its plans to slow hiring, writing, “We will continue to slow headcount and OpEx growth in response to the macro environment, while continuing to make disciplined investments in our most strategic projects that will increase both our platform’s market penetration and long-term customer value.

Qualcom (COMQ): The chipmaker’s first-quarter guidance fell short of Wall Street estimates, putting pressure on stocks amid prolonged trading. Qualcomm is forecasting adjusted earnings of $2.25 to $2.45 per share for the fiscal first quarter on revenue of $9.2 billion to $10 billion. Christopher Rolland, senior equity analyst at Susquehanna International Group (SIG), told Yahoo Finance that Qualcomm’s forecast is the company’s “worst guide in years.” Qualcomm also warned of rapidly weakening demand and high inventory levels.

Etsy (ETSY): Shares jumped after hours after the company’s revenue and gross merchandise sales (GMS) beat expectations. Third-quarter revenue was $594.5 million, up 12% from a year ago, while gross merchandise sales reached $3 billion.

Reservation credits (BKNG): The summer travel boom helped boost Booking’s third-quarter results, as the company more than doubled its profit from a year ago. Revenue of $6.05 billion beat analysts’ expectations. Nights booked in the third quarter increased by 31%. In the earnings release, CEO Glenn Foge noted “improving overnight trends” despite growing concerns about macroeconomic headwinds.

Robin Hood (HOOD): Shares soared 3% in extended trading after Robinhood reported a smaller-than-expected loss. Net loss was $175 million, or 20 cents per share, compared to a net loss of $295 million in the prior quarter. Revenue was $361 million, exceeding expectations.

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