WEBVTT - Closing Bell Earnings Special: Lyft Gains, Airbnb Mixed, Sweetgreen Slides

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>This is the closing bell on this stock movers report.

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<v Speaker 2>The company's making moves at the close of US trading

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<v Speaker 2>with Carol Masser, Tim Steneback, Romain Bostik, and Katie Greifel.

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<v Speaker 1>All Right, you want earnings, Carol, I'll give them to

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<v Speaker 1>you Instacart or maple Bear, depending on how you want

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<v Speaker 1>to see it. Those shares higher in the after hours trade.

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<v Speaker 1>In the second quarter, gross transaction value did come in

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<v Speaker 1>right around estimates ten point three to five billion. The

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<v Speaker 1>street was looking for ten point two billion dollars ipadah

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<v Speaker 1>coming in above estimates at three hundred and thirteen million dollars.

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<v Speaker 1>Here's your forecast going forward. The company says that for

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<v Speaker 1>the third quarter, the current quarter, it s thees gross

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<v Speaker 1>transaction value in a range of ten point three to

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<v Speaker 1>ten point five to five billions. So on a sequential

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<v Speaker 1>basis not quite a big bump from what we saw

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<v Speaker 1>from the past quarter. But investors least the knee jerk

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<v Speaker 1>reaction curl to the upside up four percent.

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<v Speaker 3>All right, So let's get to it at a stock

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<v Speaker 3>that's been outperforming this year, Akamai, which is up about

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<v Speaker 3>thirty six percent year to date. Let's get to its numbers.

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<v Speaker 3>Just crossing the Bloomberg terminal, let's go right to the outlook.

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<v Speaker 3>Alkimai sees fiscal year revenue four point forty five billion

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<v Speaker 3>to four point fifty three billion. It had seen four

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<v Speaker 3>forty five billion to four to fifty five billions. So

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<v Speaker 3>maybe just raining in barely the top end c third

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<v Speaker 3>quarter just at EPs of a bucks sixty to a

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<v Speaker 3>dollar eighty. The street estimate is a dollar seventy. So

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<v Speaker 3>right in the middle of that range you can see

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<v Speaker 3>Akamai shares perhaps some disappointment here, down about eight percent

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<v Speaker 3>to say the least second quarter. Looking backwards, a second

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<v Speaker 3>quarter adjusted EPs just a penny better, a dollar fifty

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<v Speaker 3>nine a share. Second quarter revenue in line one point

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<v Speaker 3>one billion. Again that was the street estimate. So maybe

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<v Speaker 3>remain investors who have pushed up this share price are

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<v Speaker 3>looking for more.

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<v Speaker 1>May I'm been looking for more. There you see the

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<v Speaker 1>shares down significantly. You know, tim, I'm looking at another

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<v Speaker 1>stock right now, and that's trade desk. We'll share getting

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<v Speaker 1>killed right now. What's going on?

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<v Speaker 4>Yeah, they are shares down about fifteen percent in the

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<v Speaker 4>after hour second quarter adjusted EPs miss estimates. I mean,

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<v Speaker 4>going into this print, the ad tech company shares, we're

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<v Speaker 4>under pressure, down more than fifty percent so far this year.

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<v Speaker 4>That third quarter outlook coming in below estimates. Listen to

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<v Speaker 4>listen to this trade desk sees third quarter revenue of

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<v Speaker 4>at least six hundred and fifty million. The estimate was

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<v Speaker 4>for eight hundred and eight point four million. From an

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<v Speaker 4>earnings perspective, the company sees or the company second quarter

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<v Speaker 4>revenue came in below estimates too, rather at seven hundred

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<v Speaker 4>and fifteen million dollars. The estimus for seven hundred and

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<v Speaker 4>fifty million dollars, So a miss looking backward and a

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<v Speaker 4>miss also looking forward. Shoes down seventeen percent.

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<v Speaker 3>All right, guys, let's go to Airbnb. It two is

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<v Speaker 3>crossing the Bloomberg terminal as we speak, bringing up the

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<v Speaker 3>ticker here and you've got again let's go to the

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<v Speaker 3>outlook like to go there. Company sees third quarter revenue

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<v Speaker 3>four point sixty nine billion to four point seventy seven billion.

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<v Speaker 3>Street estimate is four point six billion, so raising certainly

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<v Speaker 3>the estimate the range. Their stock is right now up

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<v Speaker 3>about two point nine percent here in the after market.

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<v Speaker 3>The company going backwards second quarter EPs that was a

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<v Speaker 3>dollar thirty seven versus a dollar three year over year.

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<v Speaker 3>The company also saying it sees fiscal year adjusted EBITA

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<v Speaker 3>margin at least thirty five point five percent, slightly higher

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<v Speaker 3>than the street estimate of thirty five point four percent.

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<v Speaker 3>Second quarter again now going backward, sorry as the numbers

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<v Speaker 3>cross here. Second quarter revenue was three point sixty one billion.

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<v Speaker 3>That's a little bit higher, remain than what the street

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<v Speaker 3>was expecting. It was three point fifty eight billion. Again,

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<v Speaker 3>and Poster's liking it initially up more than two and

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<v Speaker 3>a half percent.

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<v Speaker 1>Put this up against the backdrop of what we learned

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<v Speaker 1>the other day from Expedia and Booking Holdings, and of

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<v Speaker 1>course we heard from the airlines a couple of weeks ago,

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<v Speaker 1>and it does seem that overall the travel sector, certainly

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<v Speaker 1>here in the US, has held up pretty well.

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<v Speaker 2>Yeah.

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<v Speaker 3>Airbnb also, I mean this optimistic outlook I'm just looking

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<v Speaker 3>at our Natalie Lung putting it right through on the

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<v Speaker 3>Blueberg terminal. Airbnb is optimistic outlooks suggesting that travel demand

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<v Speaker 3>remains healthy. Overall nights and seats book jumping ten percent

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<v Speaker 3>to one hundred and forty eight point three million tim

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<v Speaker 3>in the second quarter.

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<v Speaker 4>Yeah, I'm just going through their investor letter right now.

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<v Speaker 4>The company says one of the most encouraging trends in

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<v Speaker 4>the second quarter was that it saw a year over

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<v Speaker 4>year growth accelerate, not just in the expansion markets, but

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<v Speaker 4>in many of our largest core markets as well. Net

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<v Speaker 4>origin knights booked in the US, France, the UK, and

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<v Speaker 4>Australia all accelerated in the second quarter. Airbnb says it

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<v Speaker 4>reinforces our confidence that our product innovation is driving demand

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<v Speaker 4>across our business. To your point, Romain, is it just

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<v Speaker 4>it's not just an Airbnb store.

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<v Speaker 1>Yeah, I think that's what I was trying to get

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<v Speaker 1>at here, whether this is something specific or whether this

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<v Speaker 1>is more sort of an industry all wide thing. We're

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<v Speaker 1>getting quite a few other earnings, including from Dropbox and

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<v Speaker 1>also from Lift. Lift shares looks like they're bouncing around here.

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<v Speaker 1>In the after hours trade. Two qeps pretty much in

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<v Speaker 1>line with estimates at thirteen cents a share, growth bookings

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<v Speaker 1>five point five billion. The street was looking for five

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<v Speaker 1>point three seven billion, so a bit of a smidge

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<v Speaker 1>quite above that rides also slightly above as well. For

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<v Speaker 1>your guidance for the current quarter. The third quarter adjusted

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<v Speaker 1>EPs arrange one eighty three to two oh three the

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<v Speaker 1>street on average looking for one ninety two. I'm rounding

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<v Speaker 1>up there. And for the U and for the third

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<v Speaker 1>quarter gross bookings, the company sees about five point five

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<v Speaker 1>to five point six seven billion dollars there, and you

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<v Speaker 1>can see lift shares now up about seven percent.

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<v Speaker 3>All right, guys, Let's get to Sweet Green also, which

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<v Speaker 3>of course has been under pressure concerns about Lettuce and

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<v Speaker 3>that has certainly put pressure on this name and others.

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<v Speaker 3>Second quarter results revenue one hundred and ninety two point

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<v Speaker 3>seven million, That is a little light. The Bloomberg consensus

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<v Speaker 3>estimate was for one hundred and ninety five million dollars

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<v Speaker 3>adjusted EBIT, a loss of eighteen since here the estimate

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<v Speaker 3>profit was for six eighteen Let me make sure I've

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<v Speaker 3>got these numbers right forgive me as they go through them. Yeah,

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<v Speaker 3>So second quarter adjusted EBITA loss point two million versus

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<v Speaker 3>an estimated estimated profit of six point eighteen million. So

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<v Speaker 3>that's stacked, not surprise, see it down right now about

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<v Speaker 3>nine percent tim here in the aftermarket.

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<v Speaker 4>Yeah, and updated outlook as a result of what the

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<v Speaker 4>company says is reflects reduced consumer demand for fresh prepared

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<v Speaker 4>foods due to the multi state outbreak of cyclospora asis

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<v Speaker 4>since mid July. The pace and timing of recovery remain uncertain.

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<v Speaker 4>For fiscally your twenty twenty six, they now anticipate the

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<v Speaker 4>following same store sales change between eight percent to seven

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<v Speaker 4>percent restaurant level profit margin of ten point five to

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<v Speaker 4>eleven percent. They are also are unclear about when there's

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<v Speaker 4>some sort of recovery heromain. We've seen the story play

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<v Speaker 4>out with other outbreaks of food born illnesses, but this

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<v Speaker 4>one's a little bit different given how difficult it is

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<v Speaker 4>to replicate in a lab because it's on such perishable items.

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<v Speaker 1>And there's a big issue here also just about communication

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<v Speaker 1>and what the public knows or don't know, and the

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<v Speaker 1>idea of who you actually trust. And it has a

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<v Speaker 1>lot of people just trying to avoid any kind of

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<v Speaker 1>raw vegetables at restaurants. And we've talked about this a lot. Obviously,

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<v Speaker 1>it was first you that kind of took the brunt

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<v Speaker 1>of it. There was a privately held salad chain that

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<v Speaker 1>just filed for Chapter eleven bankruptcy protection, saying that it

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<v Speaker 1>was already having issues, but the cyclist for our outbreak

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<v Speaker 1>kind of exacerbated that. So something we'll have to keep

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<v Speaker 1>an eye on here as to whether there is any

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<v Speaker 1>sort of meaningful drop in foot traffic. Remember the outbreak

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<v Speaker 1>or at least the public awareness of this outbreak kind

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<v Speaker 1>of came towards the end of the quarter so or

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<v Speaker 1>actually came after the end of the quarter in July,

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<v Speaker 1>so it won't probably be reflected in the three months past.

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<v Speaker 1>Can I do tilio please?

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<v Speaker 2>Yeah?

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<v Speaker 1>Yeah, I'm really into the stock because it is, you know,

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<v Speaker 1>the aware of the Internet. It's eleven percent right now,

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<v Speaker 1>Tim Centevik, pretty decent numbers for the quarter. Expectations were

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<v Speaker 1>high and the company did manage to beat them. One

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<v Speaker 1>forty seven is your adjusted EPs number. That was a beat.

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<v Speaker 1>One point five billion dollars that was your revenue, that

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<v Speaker 1>is a beat. And the guidance going forward, the company

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<v Speaker 1>says that full year adjusted operating income will be one

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<v Speaker 1>point one foward to one point one six, relatively in

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<v Speaker 1>line with estimates, and organic revenue growth will be about

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<v Speaker 1>thirteen to thirteen and a half percent.

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<v Speaker 3>All right, Just watching some of these stocks in the aftermarket.

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<v Speaker 3>As you mentioned, Romaine Twilio is up about twelve percent.

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<v Speaker 3>You've got Instacart up about twelve percent as we speak.

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<v Speaker 2>The Stockmovers Report from Bloomberg Radio. Check back with us

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