Chegg, Clorox, Devon Energy and more
Check out the companies making headlines after hours.
chegg – Stocks plunged nearly 30% after the textbook company reported weak guidance for the full year despite exceeding earnings expectations. In its most recent quarter, Chegg posted earnings of 32 cents per share on revenue of $ 202 million. Analysts interviewed by Refinitiv expected earnings of 24 cents per share on revenues of $ 201 million.
Clorox – The Clorox stock price fell roughly 1.9% after the homeware maker cut its gross margin outlook for the full year due to inflationary fears. Clorox otherwise surpassed earnings expectations after posting $ 1.31 earnings per share on revenue of $ 1.81 billion. The company was expected to earn 97 cents per share on revenue of $ 1.79 billion, according to Refinitiv’s consensus estimates.
Devon Energy – Shares rose more than 2% after the company announced a dividend increase and repurchase. The oil and gas company reported earnings of $ 1.88 per share and revenues of $ 3.8 billion for the quarter ended March. Analysts surveyed by FactSet had expected earnings of $ 1.75 per share on revenue of $ 4 billion.
Avis Budget Group – The automaker’s stock price rose nearly 7% after Avis Budget’s quarterly results exceeded analysts’ expectations. The company has benefited from pent-up travel demand which has prompted consumers to rent cars even at higher prices. Avis posted earnings of $ 9.99 per share on revenue of $ 2.4 billion. Analysts interviewed by Refinitiv expected earnings of $ 3.45 per share on revenue of $ 2.08 billion.