Lyft, Blizzard, Take-Two and more

Lyft (LYFT): Lyft shares fell more than 8% in expanded trading after the ride-hailing giant’s active riders missed its third-quarter estimates. Active riders totaled 20.31 million, less than the street’s estimate of 21.1 million. Revenue of $1.05 billion also came in just below expectations. On the upside, revenue per active user rose to $51.88, up 13.7% from a year ago.

Activision Blizzard (ATVIA): Results from the video game maker pushed the stock slightly higher in after-hours trading. Earnings and sales were lower than a year ago, but exceeded street expectations. The company announced that Call of Duty: Modern Warfare II crossed $1 billion in worldwide resale in its first 10 days of release, making it the fastest-selling title in franchise history. Activision Blizzard CEO Bobby Kotick noted that he expects the sale of the company to Microsoft “to complete in Microsoft’s current fiscal year ending June 2023.”

Take-Two Interactive (TWO): The company lowered its full-year net posting guidelines, causing its share of after-hours trading to fall by more than 10%. For the fiscal year, Take-Two sees revenue of between $5.4 billion and $5.5 billion, down from its previous estimate of $5.8 billion to $5.9 billion. For the fiscal second quarter, net bookings were $1.5 billion, which doesn’t match Street’s estimate.

groupon (GRPN): The company reported third-quarter revenue was down 33% from a year ago, putting pressure on its stock during extended trading. Global revenue was $144.4 million during the third quarter, while worldwide invoices were $433.9 million. Groupon has also detailed additional cost-cutting measures, saying the company is “well on track” to meet its goal of reducing its cost structure by $150 million a year and aims to deliver “an additional $50 million in savings.” and identify related cost actions by the end of 2023.”

TripAdvisor (TRIP): Shares fell 10% after TripAdvisor’s earnings fell short of expectations. Adjusted earnings were 28 cents per share for the third quarter, less than the street’s estimate of 39 cents. The online travel company expects fourth-quarter sales to increase by low single digits from 2019 levels.

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