The Etsy website
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Check out the companies making headlines in midday trading.
Etsy — Shares of the e-commerce company plunged by more than 12% after Etsy’s revenue guidance for the second quarter came in lighter than anticipated. The company CFO also said on the earnings call that “consumers have less disposable income and many more places to spend it,” which “creates a short-term headwind for sales.”
Booking Holdings — Shares of the travel booking site operator jumped 8.2% in extended trading Wednesday after the company posted big beats on revenue and adjusted EBITDA for the first quarter. It also reported $27 billion in gross bookings for the quarter, the highest quarterly amount in the company’s history. Management said on the earnings call it’s preparing for a busy summer travel season.
eBay — The online marketplace’s shares fell 5.8% following the company’s quarterly earnings. EBay posted a slight first-quarter revenue beat, but issued weaker-than-expected earnings and revenue guidance for the second quarter and for the full year.
Cognizant — The information technology company saw shares drop 4.5% after hours following its quarterly earnings report. Cognizant brought in revenue of $4.83 billion, in line with estimates, according to FactSet. However, it issued weaker-than-expected earnings and revenue guidance for the second quarter and the full year.
Twilio — The customer engagement tech company’s shares gained 1.5% after Twilio posted revenue of $875.4 million for the first quarter, which was greater than the $864.2 million expected by analysts, according to FactSet.