DoorDash, Beyond Meat, AMC & more

DoorDash, Beyond Meat, AMC & more

A DoorDash sign is pictured on a restaurant on the day of their IPO in New York, December 9, 2020.

Carlos Allegri | Reuters

Discover the companies making headlines after the bell:

DoorDash – Shares of the food delivery company jumped 12% after a beat of income. DoorDash reported second-quarter revenue of $1.61 billion, higher than analysts expected $1.52 billion, according to Refinitiv. DoorDash said the total number of orders shipped rose 23% year-over-year to 426 million, an all-time high. It did, however, report a bigger than expected loss for the quarter.

Beyond meat — Shares of the alternative meat producer fell more than 2% after the company has revised downwards its revenue forecast for 2022. Beyond Meat also announced it would cut its workforce by 4%, citing wider economic uncertainty. Beyond posted a net loss of $97.1 million, or $1.53 per share, higher than a net loss of $19.7 million, or 31 cents per share, a year earlier.

AMC Entertainment – Shares of the cinema chain fell 4% after the company announced its intention to pay a dividend to shareholders in the form of preferred shares listed on the NYSE under the symbol APE. The name is a nod to its retail investors who backed the company during meme mania.

Galactic Virgo — Space stock fell more than 7% in after-hours trading after the company’s quarterly report. Virgin Galactic posted a net loss of $111 million in the second quarter, compared to a net loss of $94 million in the same period a year ago. The company also postponed the launch of its commercial service to the second quarter of 2023.

Discovery of Warner Bros. – Shares of the media giant fell 9% after the combined company disclosed a total direct-to-consumer subscriber base of 92.1 million. It was the first time the company has released quarterly results since the merger of WarnerMedia and Discovery earlier this year.


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