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4d ago

After-Hours Stock Declines Follow Mixed Earnings and Weak Guidance

Applied Materials, Take-Two Interactive, Cava Group, and Doximity report earnings and forecasts that fall short of expectations, prompting significant share price drops.

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Overview

  • Applied Materials reported fiscal Q2 revenue of $7.10 billion, missing analyst estimates of $7.13 billion, with semiconductor sales also falling short of expectations.
  • The company's China sales decline reflects ongoing challenges linked to U.S. export restrictions and broader trade dynamics.
  • Take-Two Interactive issued full-year bookings guidance of $5.9–6 billion, significantly below the consensus estimate of $7.82 billion, leading to a 2% drop in after-hours trading.
  • Cava Group's full-year adjusted EBITDA guidance of $152–159 million fell short of forecasts, causing a 4% decline in its stock, despite surpassing Q1 revenue expectations.
  • Doximity's stock plunged 25% after the company projected adjusted EBITDA of $71–72 million, below the consensus estimate of $74 million, alongside a weaker full-year outlook.