March 28, 2023

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Stocks moving in after hours: Meta, Elf, Align

2 min read

Meta (META)

Meta Platforms shares soared after the social media giant announced fourth quarter sales of $32.17 billion which beat analyst expectations of $31.65 billion. The company also announced a $40 billion boost to its stock buyback program.

Facebook’s daily active users of 2 billion beat analyst estimates of 1.98 billion.

e.l.f Beauty (ELF)

e.l.f Beauty quarterly results came in above expectations, with net sales of $146.5 million versus Wall Street analyst average estimates of $122.5 million.

The makeup company’s fiscal third quarter adjusted earnings per share of 48 cents also beat estimates of 23 cents.

“We delivered a terrific third quarter — growing our net sales by 49% and expanding our market share by 150 basis points, according to Nielsen,” said Tarang Amin, e.l.f. Beauty’s chairman and chief executive officer.

The company raised its earnings and revenue guidance for the full year.

Align (ALGN)

Align Technology shares jumped 16% on the heels of the dental company’s quarterly results. The owner of Invisalign posted adjusted earnings per share of $1.73 on revenue of $901.5 million for its latest quarter.

The company is not providing full year revenue guidance, citing global challenges and uncertainty.

Ines is a senior business reporter for Yahoo Finance. Follow her on Twitter at @ines_ferre

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2023-02-01 17:12:53

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