Hims & Hers Health (HIMS) shares jump in Monday's after-hours trading after sharing it achieved a profitable fourth quarter in 2023.
Unity Software (U) shares sink upon posting wider than expected losses.
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Editor's note: This article was written by Luke Carberry Mogan.
Video Transcript
JULIE HYMAN: Let's take a look at what's trending after hours. More companies out with earnings. Shares of Hims & Hers Health up in after hours trading about 16%. The company beating estimates across sales and earnings for its fourth quarter swinging to a surprise profit, and issuing a full-year revenue forecast that topped expectations. Shares of the company are up more than 15% so far this year gaining ground in recent days. And shares of Unity software sinking. After that company missed expectations in its fourth quarter down 16%.
The company saw a much wider loss than anticipated. Although revenue did beat expectations, the video game company's full-year forecast was also well below estimates. In its earnings release, Unity outlining efforts to rightsize its cost structure. It expects to reduce $250 million in operating expenses, a process it said should be completed by the end of the first quarter. And by the way, Unity also said it is evaluating its portfolio to see if it might want to offload some of its units.
