Sometimes, newly-listed companies stumble. Figma (FIG) shares lost around 14% in after-hours trade after posting its first earnings report since its initial public offering.
Figma reported that revenue increased by 41% Y/Y to $249.6 million. Net income was $846,000, compared to a $827.9 million loss last year. In Q3, the company is expecting revenue of up to $265 million (+33% growth Y/Y in the middle of the range).
The post-market reaction means that anyone buying the stock in the secondary market lost money. Insiders will sell next, which would put more pressure on FIG stock.
On Wednesday night, a federal jury decided that Alphabet (GOOG) must pay $425 million. It violated user privacy when it kept collecting data from millions of users. However, those users switched off tracking on their Google account. The fine is small compared to the $31 billion that users sought in damages.
Dollar Tree (DLTR) shares broke down on Wednesday, falling by 8.37%. The discount retailer posted an EPS of $0.75. However, it warned that tariff-related costs would hurt its earnings this quarter and beyond. Expect shares of Dollar General (DG) and Five Below (FIVE) to underperform from here.
Intuitive Surgical (ISRG) dropped by 5.95% yesterday, extending its downtrend that started in January. Tariff worries hurt shares, despite minimal reports of such headwinds hurting results. The CEO said that tariffs have a negative 100 bps impact on revenue.
