Key insights
- Roblox is down after hours due to slashed full-year bookings forecast and missed Q1 estimates. Rivian reported mixed Q1 results, with automotive gross profit loss offset by software/services profit and changes to its Georgia facility loan. Reddit reported better-than-expected Q1 revenue, EBITDA, and user growth, along with positive Q2 outlook. Overall, the news is mixed, with Roblox's weak guidance potentially weighing on sentiment.
Market Domination host Josh Lipton breaks down stocks moving during after-hours, including Roblox (RBLX), Rivian (RIVN), and Reddit RDDT).
Let's take a look down at some after hour movers. going to start here with Roblox. That stock is getting crushed after hours following its first quarter report. Company slashing its full-year bookings forecast. Full-year revenue guidance also missing analyst expectations. For Q1, daily active users came in light, the company reporting users of 132 million, bookings, revenue and hours engaged all also missing estimates for the first quarter. Shifting gears to Rivian, reporting first quarter results that largely met expectations. The company reporting a gross profit loss for its automotive segment, but its software and services segment posting a $181 million gross profit. The EV maker also announcing changes to its upcoming Georgia facility with the Department of Energy shrinking its loan commitment. And Reddit reporting first quarter revenue and adjusted EBITDA that topped expectations. Daily active users also slightly topping Wall Street's estimates. Free cash flow also seeing an improvement in the quarter compared to the prior year. While looking ahead to the second quarter, company reporting a better than expected revenue and adjusted EBITDA outlook.