Chegg, Clorox, Devon Energy and more
Find out which businesses are making headlines after hours.
Chegg – Shares fell nearly 30% after the textbook company announced weak full-year guidance despite beating earnings expectations. In its most recent quarter, Chegg reported earnings of 32 cents per share on revenue of $202 million. Analysts polled by Refinitiv had expected earnings of 24 cents per share on revenue of $201 million.
Clorox – Clorox’s share price fell about 1.9% after the household products maker cut its full-year gross margin outlook on inflation concerns. Clorox also beat earnings expectations after reporting earnings of $1.31 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 consensus estimates from Refinitiv.
Devon Energy – Shares jumped more than 2% after the company announced higher dividends and buybacks. The oil and gas company reported earnings of $1.88 per share and revenue of $3.8 billion for the quarter ending March. Analysts polled by FactSet had expected earnings of $1.75 a share on revenue of $4 billion.
Avis Budget Group — The automaker’s share price soared nearly 7% after Avis Budget’s quarterly results beat analysts’ expectations. The company benefited from pent-up travel demand that prompted consumers to rent cars even at higher prices. Avis reported earnings of $9.99 per share on revenue of $2.4 billion. Analysts polled by Refinitiv had expected earnings of $3.45 per share on revenue of $2.08 billion.