Home / Business and Economy / Stock Market Shakes: Booking, Carvana & DoorDash Move
Stock Market Shakes: Booking, Carvana & DoorDash Move
19 Feb
Summary
- Booking's fourth-quarter gross bookings surpassed analyst expectations.
- Carvana's profit growth missed estimates due to high operating costs.
- DoorDash's earnings outlook fell short, citing winter storms and investments.
Several major companies experienced significant stock fluctuations today, with Booking, Carvana, and DoorDash capturing investor attention.
Booking reported fourth-quarter gross bookings that surpassed average analyst estimates, indicating a positive performance for the travel company. This beat suggests strong demand and successful execution in the final quarter of the year.
In contrast, Carvana, an online auto retailer, posted robust profit growth for the fourth quarter. However, this growth ultimately missed Wall Street's expectations, largely due to higher-than-anticipated operating expenses. As a result, Carvana's shares saw a decline of over 9% in after-hours trading.
DoorDash, the food delivery service, issued an earnings outlook that fell short of market expectations. The company cited the impact of winter storms across the US and ongoing investments in growth areas as factors expected to weigh on near-term profits. Adjusted earnings before interest, taxes, depreciation, and amortization for the first quarter were projected to be between $675 million and $775 million, below the analyst consensus of $800.1 million. Shares of DoorDash, based in San Francisco, fell 7.2% in extended trading.
