Another round of earnings reports impacted investor sentiment in Tuesday's pre-market action. This included Groupon (NASDAQ:GRPN) and Bausch Health Companies (BHC), which both plummeted in the wake of their quarterly reports.
Groupon (GRPN) endured a pre-market sell-off, dropping 13% after the release of disappointing earnings and guidance. The company reported a loss for the latest quarter compared to a profit in the same period last year. Revenue plunged 42% to reach $153M.
Looking ahead, the e-commerce marketplace predicted Q2 revenue between $155M and $165M. Analysts were looking for a figure above $200M.
Bausch Health Companies (BHC) also dropped following the release of financial figures. The stock plunged 30% after the health care products company recorded a GAAP loss for Q1. This surprised analysts, who had predicted a profit.
Revenue at the company also came in below expectations, falling 5% from last year to reach $1.92B. This was $120M below what Wall Street experts had predicted.
AMC (AMC) saw buying interest in pre-market action after posting better-than-expected quarterly results. Recovering from the COVID lockdowns, the movie theater chain cut its losses and revealed revenue that quintupled from last year to reach nearly $786M.
Commenting on its turnaround following the pandemic, the company pointed to blockbusters like Spider-Man: No Way Home and the recently released Doctor Strange in the Multiverse of Madness for drawing people back into theaters. Based on the earnings news, shares rose more than 6% before the opening bell.
Earnings news also gave a lift to LivePerson (LPSN). The provider of conversational AI technology reported a quarterly loss that came in narrower than analysts had projected. Revenue rose 21% from last year to reach $130M.
LPSN raised its forecast for the full year, saying it now expects adjusted EBITDA between $1M and $10M. Shares rose almost 7% on the news.
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