Amazon’s stock fell 2% on January 10, 2024, after the company provided weaker-than-expected sales guidance for the first quarter. The e-commerce giant forecasted sales between $151 billion and $155.5 billion, falling short of analysts’ expectations of $158.5 billion, despite reporting strong fourth-quarter earnings and revenue.
- Amazon's guidance fell short of expectations.
- Take-Two Interactive's revenue missed analyst estimates.
- Affirm Holdings reported strong revenue growth.
- Pinterest's revenue slightly exceeded expectations.
- Expedia topped Wall Street expectations significantly.
- E.l.f. Beauty slashed full-year sales guidance.
Several companies reported their earnings on January 10, 2024, with mixed results impacting their stock prices. Take-Two Interactive’s shares rose nearly 7% despite revenue of $1.37 billion for the fiscal third quarter, slightly below the expected $1.39 billion. The company anticipates current-quarter revenue between $1.48 billion and $1.58 billion, compared to the estimated $1.54 billion.
Affirm Holdings experienced a significant surge of over 9% in its stock price after reporting $866 million in revenues for the fiscal second quarter, exceeding the $807 million expected by analysts. The company also noted a 35% year-over-year growth in gross merchandise volume.
Pinterest’s shares increased by 18% following a fourth-quarter revenue of $1.15 billion, surpassing expectations of $1.14 billion. The company projected first-quarter revenue between $837 million and $852 million, slightly above the $833 million anticipated by analysts. Meanwhile, Expedia’s stock gained 11% after posting adjusted earnings of $2.39 per share on revenue of $3.18 billion, exceeding analyst estimates.
In contrast, Bill Holdings’ shares plummeted approximately 32% after disappointing revenue guidance for the fiscal third quarter, projecting figures below analysts’ expectations. E.l.f. Beauty’s stock fell 23% after reducing its full-year sales guidance, while Monolithic Power Systems soared 16% following strong fourth-quarter results and an increase in its quarterly dividend.
The mixed earnings results from various companies highlight the volatility in the stock market, particularly with Amazon’s disappointing guidance overshadowing its strong fourth-quarter performance. Investors are advised to monitor these developments closely as they may influence future market Trends.
