Earnings live: Moderna stock pops amid cost-cutting efforts, Snap stock soars, Duolingo plunges

Snap (SNAP) stock soared over 22% after the tech company reported a revenue beat, issued a strong forecast, and announced a partnership with Perplexity AI (PEAI.PVT).

As part of that partnership, Perplexity will pay Snap $400 million starting in early 2026 to appear in the Chat interface for Snapchatters worldwide.

“Our goal is to make AI more personal, social, and fun – woven into the fabric of your friendships, Snaps, and conversations,” Snap CEO Evan Spiegel said. “This partnership reflects our shared vision for the power of AI to enhance discovery and connection on Snapchat, and we look forward to collaborating with more innovative partners in the future.”

For the third quarter, the company reported a $0.06 loss per share, versus a $0.12 loss estimated by Wall Street analysts, according to S&P Global Market Intelligence.

Revenue grew 10% year over year to $1.5 billion, compared to $1.49 billion estimated by analysts and $1.34 billion in Q2. It marked a deceleration from the 15.5% annual revenue growth in Q3 2024.

For the fourth quarter, Snap expects sales to be between $1.68 billion and $1.71 billion, also ahead of estimates.

Daily active users (DAU) grew 8% year over-year to 477 million. The company had guided for 476 million in Q3.

ConocoPhillips (COP) stock advanced 0.9% in premarket trading on Thursday after the oil and gas company raised its full-year forecast for production and lowered its outlook for costs.

Adjusted earnings per share of $1.61 beat estimates of $1.41, according to S&P Global Market Intelligence. Conoco also raised its fourth quarter dividend by 8% to $0.84 per share.

The Houston-based company raised its 2025 production guidance to 2.375 MMBOED (millions of barrels of oil equivalent per day), compared to its prior guidance of 2.35 million to 2.37 million barrels of oil per day.

ConocoPhillips also lowered its full-year adjusted operating cost to $10.6 billion, compared to prior guidance of $10.7 billion to $10.9 billion. However, it updated the total project capital for the Willow project, which is an oil drilling site in Alaska, to $8.5 billion to $9 billion.

Biotech company Moderna (MRNA) posted another net loss in the third quarter as COVID vaccine sales declined; however, the loss was much smaller than analysts expected, and the stock popped 6% in premarket trading.

The company reported revenue of $1 billion, a 45% decrease from the $1.9 billion in revenue it reported in Q3 2024. That was primarily driven by a substantial decrease in COVID vaccine sales and other product sales.

Moderna reported $971 million in COVID vaccine sales in Q3, with $781 million in US sales and $190 million in international sales.

That led to a loss per share of $0.51 for the quarter. However, Wall Street was expecting a much wider loss of $2.18 per share.

Moderna has been aggressively cutting costs. Its research and development expenses were down 30% year over year, while the cost of sales decreased 60%.

“We remain highly focused on operational excellence and financial discipline to advance our pipeline and expand the reach of our commercial portfolio,” Moderna CEO Stéphane Bancel said in a statement.

For the full year, Moderna narrowed its revenue guidance range. It now sees 2025 revenue in a range of $1.6 billion to $2 billion. It previously guided for revenue to be between $1.5 billion and $2.2 billion.

E.l.f. Beauty, Inc. (ELF) shares fell more than 21% in after-hours trading on Wednesday after the company posted a disappointing 2026 full-year outlook.

The company expects net sales to be in the range of $1.55 billion to $1.57 billion, below Wall Street’s expectations of $1.65 billion, per Bloomberg consensus data. It also expects adjusted earnings in the range of $2.80 to $2.85, also far lower than the expected $3.53. It expects net sales growth of approximately 18% to 20%.

CFO Mandy Fields attributed the weaker outlook to tariffs, which “assumes that the 45% tariff rate stays in place for the remainder of our fiscal year.”

On a call with investors, she said, “We estimate every 10 percentage points of incremental tariffs results in a $17 million growth impact to our cost of goods sold on an annualized basis before any mitigating actions.”

She added, “While tariff rates remain volatile, we believe the lead time of our supply chain gives us greater visibility into our costs for the second half of the year.”

The stock fell as much as 30% before paring some of those losses.

In the company’s latest quarter, it posted mixed results. Adjusted earnings beat estimates at $0.68 per share, while revenue came in at $342.9 million, short of Wall Street’s expected $365.7 million.

Figma saw its shares rise along with its annual revenue forecast, which was boosted by the success of the company’s AI tools and design software.

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Chime Financial (CHYM) reported annual revenue growth of 29% in the September quarter, highlighting resilient consumer spending on essentials in the US.

The fintech company, which provides digital consumer banking and payment services, including checking and savings accounts, reported revenue of $544 million. Chime also raised its full-year forecast as it sees a surge of new members.

Chime stock increased 5% in after-hours trading following the results.

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Duolingo (DUOL) stock was crushed in extended trading as investors homed in on a softer-than-expected bookings forecast for the fourth quarter.

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Robinhood (HOOD) stock slipped after hours as the company’s profit and revenue beats were tested by the stock’s massive 280%-plus rally since the beginning of the year.

Yahoo Finance’s Ines Ferré reports:

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AppLovin Corporation (APP) stock rose nearly 4% after the advertising technology company delivered consistent results across the board that beat Wall Street’s expectations.

The stock has been highly volatile this year: It’s up 91% year to date but has shed 9% over the past month after Bloomberg reported that the Securities and Exchange Commission opened an investigation into AppLovin’s data-collection practices.

Here’s what AppLovin reported for the third quarter, compared to analyst estimates compiled by S&P Global Market Intelligence.

For the fourth quarter, AppLovin expects revenue in the range of $1.57 billion to $1.6 billion. The company is expected to discuss its guidance further on the earnings call at 5 p.m. ET, which you can listen to here.

Lucid (LCID) stock tumbled 4% in after-hours trading following the EV maker’s results, which missed the mark as losses piled on despite sales pulling higher.

Yahoo Finance’s Pras Subramanian reports:

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UK-based chip designer Arm Holdings (ARM) reported a double beat on its fiscal second quarter earnings and revenue, and its Q3 outlook also topped analyst estimates. The stock jumped 3% in extended trading.

Arm reported earnings per share of $0.39, surpassing estimates for $0.33. Revenue of $1.14 billion also beat estimates of $1.06 billion, according to S&P Global Market Intelligence, marking a 34% year-over-year jump.

For the third quarter, Arm expects revenue in the range of $1.18 billion to $1.28 billion. Arm counts Apple (AAPL) and Nvidia (NVDA) among its customers.

“Arm is one of those companies that has an entree coming … they’re going to get into AI chips,” Futurum CEO Daniel Newman told Yahoo Finance in response to the results. “This company is almost twice the size it was when it went public, and they haven’t really fully gotten into AI yet.”

DoorDash (DASH) stock plunged late Wednesday, falling as much as 19% after the company reported third quarter profit that missed forecasts and said its fourth quarter profits would come in below Street expectations.

Adjusted earnings per share in the third quarter tallied $0.55, missing forecasts for earnings per share of $0.68, according to Bloomberg data. Revenue beat expectations, coming in at $3.45 billion against estimates for $3.36 billion.

Some of its key metrics, such as total orders and marketplace gross order value (GOV), the total dollar value of orders on the marketplace, also Wall Street analysts’ forecasts.

Total order volumes came in 5 million higher than the street expected, clocking in at 776 million. Marketplace GOV came in at $25.02 billion, above the $24.58 billion Wall Street projected. That’s also above DoorDash’s quarterly outlook provided in the previous quarter, a range $24.2 billion to $24.7 billion.

In the fourth quarter, the company expects adjusted EBITDA to come in between $710 million-$810 million, roughly in-line with the $754 million reported in the third quarter. Marketplace GOV is forecast to come in the range of $28.9 billion-$29.5 billion.

In its release on Wednesday, the company said some key drivers in the third quarter quarter included gaining twice as many monthly active users in the first nine months of the year compared to 2024.

Its US restaurant category saw year-over-year growth in marketplace GOV, and it expanded partnerships in areas such as grocery, retail, alcohol, floral, pet, gifting, and convenience, contributing to higher user engagement.

DoorDash’s stock slide late Wednesday follows widespread weakness in restaurant stocks this year, with stressed consumers continuing to be more choiceful and looking for value across household budgets.

Ahead of Wednesday’s report, DoorDash stock had been up about 40% this year.

Lemonade (LMND) stock climbed 10% in premarket trading on Wednesday after shedding over 4% the day before. The insurance company reported a smaller loss than analysts were expecting and raised its revenue guidance for the year.

In the third quarter, Lemonade recorded a loss per share of $0.55, compared to Wall Street’s expectations for a loss per share of $0.71. Revenue also beat expectations, coming in at $194.5 million vs. $185 million estimated.

For the full year, Lemonade upped its revenue outlook to a range of $727 million to $732 million. Previously, the company guided for revenue of $710 million to $716 million. The midpoint of consensus estimates had guided for 2025 revenue at $714 million.

Humana (HUM) stock fell more than 5% on Wednesday after the health insurance company forecast lower Medicare growth in its third quarter earnings release. The insurance group beat Wall Street estimates but is battling high costs due to an increase in its services.

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McDonald’s (MCD) stock drifted lower in premarket trading after the fast food chain showed signs it’s making progress in winning back customers.

Yahoo Finance’s Brooke DiPalma reports:

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Toyota (TM) stock fell 2% in premarket trading on Wednesday after reporting a drop in profit in its third quarter earnings. The Japanese automaker said that President Trump’s tariffs have hurt the sector.

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Toast (TOST) shares gained 6% in extended trading after the cloud-based restaurant platform substantially raised its full-year adjusted EBITDA guidance.

Toast now sees adjusted EBITDA in the range of $610 million to $620 million, up from the $565 million to $585 million range previously forecast.

In the third quarter, Toast missed profit estimates, reporting earnings per share of $0.16, which was below consensus estimates of $0.23 per share.

Its annualized recurring run-rate (“ARR”), a key operational measure for subscription revenue, grew 30%, crossing $2 billion. Toast also added about 7,500 net new locations in Q3.

Listen to a livestrea Toast’s earnings call here.