Snap Inc., the parent company of the popular social-media platform Snapchat, reported a 5% increase in revenue during the fourth quarter. However, this fell short of analysts' expectations. Looking ahead, the company is forecasting sales growth of 11% to 15% in the first quarter, which aligns with analysts' estimates.
In terms of adjusted Ebitda (earnings before interest, tax, depreciation, and amortization), Snap's guidance was more negative than anticipated by analysts. Consequently, shares of Snap fell by 33% to $11.74 after-hours.
Ford Motor Projects Strong Adjusted Pre-Tax Income for 2024
Ford Motor Company is confident about its future performance, projecting between $10 billion and $12 billion in adjusted pre-tax income for 2024. This optimistic outlook is based on recent cost cuts and the success of its truck business.
Notably, Ford's adjusted profit and sales in the fourth quarter exceeded analysts' forecasts. As a result, shares of Ford rose by 6.3% to $12.83 after-hours.
Sonos Reports Strong Profit Despite Declining Revenue
Sonos, a leading audio technology company, saw its fiscal first-quarter profit surpass analysts' expectations, despite experiencing a decline in revenue during that period. The company remains optimistic about its performance and is maintaining its previous outlook for fiscal 2024 sales, expecting them to be down 3% to up 3%.
Investors reacted positively to Sonos's results, causing shares to rise by 13% to $18.54 after-hours.
The Container Store Group Lowers Outlook Following Disappointing Third Quarter
The Container Store Group, a seller of storage and organizational products, revised its outlook for fiscal 2024 sales and comparable store sales downwards. This adjustment comes as a result of the company's weak top-line results in the fiscal third quarter, which led to a loss.
Consequently, shares of The Container Store Group fell by 9.4% to $1.54 after-hours.
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