Chegg, Clorox, Devon Energy and more
See which companies are making the news after-hours.
Chegg — Shares tumbled nearly 30% after the textbook company reported weak full-year guidance despite exceeding earnings expectations. Chegg earned 32 cents per share in the most recent quarter on $202 million revenue. Refinitiv surveyed analysts and found that they expected earnings to be 24 cents per share for revenue of $201 millions.
Clorox — Clorox’s stock price dipped about 1.9% after the maker of household products cut its full-year gross margin outlook on inflationary concerns. Clorox beat earnings expectations, reporting $1.31 per stock on revenue of $1.81billion. Refinitiv’s consensus estimate of earnings for the company is that it would make 97 cents on $1.79 billion in revenue.
Devon Energy — Shares jumped more than 2% after the company announced a dividend and buyback hike. For the March quarter, earnings were $1.88 per share with revenues of $3.8 million. FactSet analysts polled expected earnings to be $1.75 per share on revenue of $4 billion.
Avis Budget Group — The car company’s stock price soared nearly 7% after Avis Budget’s quarterly results surpassed analysts’ expectations. Customers were willing to rent vehicles at even higher rates because of the increased demand for travel. Avis posted earnings of $9.99 per stock on $2.4 billion in revenues. Refinitiv polled analysts and forecast earnings of $3.45 per Share on revenues of $2.4 billion.