Stocks moving in after-hours: Chegg, Simon Property, Activision Blizzard, Take Two Interactive, Spirit
Chegg shares fell about 20% after the education company's 2023 revenue guidance came in below Wall Street expectations. Chegg sees revenue of $745 million to $760 million versus estimates of $820.5 million.
The company's fourth quarter adjusted earnings per share of 40 cents came in above analyst expectations of 38 cents. Net revenue for the same period was $205.2 million versus an estimate of $202.8 million.
Simon Property Group (SPG)
Simon Property Group's fourth quarter funds from operations came in at $3.15 per share versus analyst estimates of $2.87. Revenue for the real estate company's latest quarter came in at $1.4 billion, ahead of expectations of $1.29 billion.
Simon Property announced it will maintain its quarterly dividend at $1.80 per share.
Activision Blizzard (ATVI)
Activision Blizzard's net bookings soared 43% year-over-year to $3.57 billion last quarter, beating analyst estimates of $3.08 billion. The video game publisher's adjusted earnings per share came in at $1.87 versus estimates of $1.52.
Monthly active users grew 4.9% year-over-year to 389 million, compared to expectations of 388.4 million.
Take Two Interactive (TTWO)
Take Two interactive slashed its net bookings guidance for the full year to $5.2 billion to $5.25 billion, missing analyst estimates of $5.48 billion.
The video-game maker's net bookings for its latest quarter came in at $1.38 billion, versus estimates of $1.45 billion. Adjusted earnings per share of 86 cents were in line with expectations. Take Two posted total net revenue of $1.41 billion, up 56% year-over-year.
Spirit Airlines (SAVE)
Spirit shares moved higher after the airline reported adjusted earnings per share of 12 cents which beat analyst estimates of 4 cents.
Sales of $1.39 billion also beat analyst expectations of $1.38 billion. The airline said leisure demand has remained strong and expects full year 2023 capacity to be up 19%-22% compared to 2022.
Ines is a senior business reporter for Yahoo Finance. Follow her on Twitter at @ines_ferre
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