DoorDash is up more than 10% in premarket trading Thursday after the delivery company beat Q1 earnings estimates and gave a stronger-than-expected Q2 gross order value outlook.

While revenue in the first quarter jumped 33% year on year to $4.04 billion, falling short of analysts estimates of $4.14 billion, earnings per share came in at $0.42 to top the $0.36 estimate. Gross order value — the total dollar value of all orders completed on the platform — rose 37% to $31.6 billion, also above the $31.5 billion expected.

DoorDash said order growth was driven mainly by more its consumer base growing, plus a boost from its acquisition of the British delivery app Deliveroo, which is “seeing the highest growth rates it has in the past four years,” CEO Tony Xu said on yesterday’s earnings call.

The second quarter is “off to a good start” with strong demand, CFO Ravi Inukonda said, and DoorDash now forecasts gross order value of $32.4 billion to $33.4 billion, ahead of analyst estimates of $32.43 billion at the midpoint. The company also expects $770 million - $870 million in adjusted EBITDA, with the midpoint falling short of the $830 million expected. DoorDash cited more than $50 million in expected costs from its driver gas-relief program amid the Iran war-driven surge in oil and gas prices, though it plans to offset at least some of that by “adjusting investment in other areas,” per the statement.

Doordash continues to invest heavily in AI tools and newer categories like electronics, apparel and auto parts, as well as restaurant reservation features through SevenRooms, which it acquired last year.

Snapis down some 10% in premarket trading after its first quarter earnings results hit estimates but pointed to cracks in its advertising business and said it ended an AI deal.

Snap reported reported $1.26 billion in advertising revenue for the first quarter, which was a hair under the $1.27 billion analysts polled by FactSet were penciling in, and included a “$20 to $25 million impact from the geopolitical headwinds in the Middle East experienced during March.”

It reported $1.53 billion in total revenue for the first quarter, which was in line with estimates, and $0.10 adjusted earnings per share — broadly in-line with expectations. Subscriptions, while still a relatively small chunk of revenue, are fueling the company’s sales growth as its advertising business stagnates.

The company told investors it expects revenue in the second quarter to land between $1.52 billion and $1.55 billion, also line with analysts’ estimates, but warned “large advertisers in North America remained a headwind.” That guidance also assumes no contribution from its $400 million deal with Perplexity, which it announced in November and said has now ended “amicably.”

Arm Holdings is jumping in postmarket trading despite posting a relatively ho-hum set of fiscal Q4 2026 results and Q1 2027 guidance.

The reason: a deluge of demand for its data center CPUs, which were launched in late March.

“We now have more than $2 billion of customer demand across fiscal 2027 and fiscal 2028, more than double what we stated at launch,” according to the press release. “Soon the data center will be Arm’s largest business.”

The company says it already has 50% market share for CPU compute among top hyperscalers.

AMD’s results showed just how central CPUs are to the AI boom, and Arm’s comments are underlining that message in bold.

Flutter Entertainment rose in aftermarket trading Wednesday after reporting better-than-expected Q1 earnings and revenue. The rally recouped losses during regular trading hours that followed a CNBC report on the departure of Amy Howe, the CEO of Flutter’s FanDuel sports betting unit.

Flutter reported:

• Q1 revenue of $4.30 billion vs. Wall Street expectations for $4.24 billion.

• Adjusted earnings per share of $1.22 vs. the $1.09 forecast, per FactSet.

• Adjusted EBITDA of $631 million vs. expectations for $610.9 million.

• Full-year sales guidance of $18.31 billion at the midpoint vs. its previous estimate of $18.40 billion and analyst expectations for $18.35 billion.

• Full-year adjusted EBITDA guidance of $2.865 billion vs. its previous midpoint estimate of $2.97 billion.

While FanDuel is the leader in the US online sports betting market, it’s considered something of a laggard in prediction markets, an area of fast growth for the industry, in part because it’s exposed to relatively lighter regulation.

(For instance, in most states, gaming commissions limit sports betting to those 21 and older, whereas sports-based events contracts typically have lower age restrictions, thus expanding their potential universe of customers.)

Flutter’s inability to come up with a prediction markets product that investors find convincing has contributed to its falling share price, which is down roughly 50% since the start of the year. Rival DraftKings is down a relatively better 30% over that period.

It might be a great time to be a surveillance company. Axon, a maker of police body cameras, Tasers, and AI intelligence tools, is ticking lower postmarket after the company reported revenue exceeding expectations in its Q1 earnings report and upbeat guidance for the year. 

Here are the numbers:

• Revenue of $807.3 million (compared to analyst estimates of $779.2 million).

• Adjusted EBITDA of $202 million (estimate: $183.8 million).

For the full year, Axon boosted its target for revenue growth to a range of 30% to 32%, up from a quarter ago, when it forecast 27% to 30% growth.

Previously, the stock had been sliding despite increasing revenue. It was trading down more than 32% since the beginning of the year, suffering the same fate as many software-as-a-service stocks thanks to AI-related anxieties. 

But for the year ahead, Axon says the company entered the year with “strong momentum, delivering record quarterly revenue,” marking its ninth consecutive quarter of more than 30% growth thanks to its suite of technologies, including artificial intelligence and counter-drone offensive products.

Axon told investors it’s targeting $6 billion in annual revenue by 2028, which would be more than double 2025’s results. The company plans to get there by growing globally (Axon says it’s currently “deployed” in 85 countries) and continuing to partner with federal agencies including the Department of Homeland Security, as well as reaching out to the business community.

The company also noted that the federal government’s Safer Skies Act, passed in December’s National Defense Authorization Act, earmarks $250 million in federal grants for local agencies to further “track and mitigate drone threats.” Again, more good news for Axon, which grew that segment of its business 300% year over year.

Beyond Meat is slipping in postmarket trading after releasing Q1 sales that managed to come in short of low expectations and a Q2 revenue guide below Wall Street’s consensus estimate.

For Q1, the faux meat seller reported:

• Net revenues of $58.2 million (compared to estimates of $58.5 million and guidance for $57 million to $59 million).

• Adjusted EBITDA of -$27.8 million (estimate: -$23.8 million).

For Q2, management anticipates sales of $60 million to $65 million, while analysts had penciled in $66.7 million.

Ahead of this earnings report, Beyond bulls were extremely happy that it was taking place as scheduled, touting this as a positive sign. The company had been releasing unscheduled preliminary results and often delaying the formal release of its quarterly report in recent months.

After releasing an underwhelming Q1 sales outlook in March, CEO Ethan Brown blamed the “surround sound of pseudoscientific jargon and positioning and promotion” in American society for the company’s operational struggles.

Back in Q4, a finfluencer who said they owned 4% of Beyond kicked off a wave of retail interest in the name. But when all was said and done, the refinancing efforts that combined with retail optimism to spur a parabolic move in the shares ultimately resulted in the elimination of about $800 million in debt, but also a 60% decline in its stock price.

AppLovin is soaring in postmarket trading after delivering better-than-expected Q1 results with a Q2 outlook to match.

For Q1, the ad tech company reported:

• Revenue of $1.84 billion (compared to analyst estimates of $1.77 billion and guidance for $1.75 billion to $1.78 billion).

• Adjusted EBITDA of $1.56 billion (estimate: $1.49 billion, guidance for $1.47 billion to $1.5 billion).

For Q2, management said to expect sales in a range of $1.92 billion to $1.95 billion (estimate: $1.89 billion) with adjusted EBITDA between $1.62 billion and $1.65 billion (estimate: $1.59 billion).

The rise of AI tools as a competitive threat has been overshadowed by AppLovin’s claims of being able to integrate the technology to the betterment of its business as well as the initial rollout of its self-service ad portal in Q4.

As a software company, it faces the existential AI overhang that is common to the space; as an ad tech company, it’s been plagued by fears of Meta taking market share on iOS.

AppLovin is well off its year-to-date lows, but was still down about 30% in 2026 heading into earnings.

Trapped-ion quantum computing company IonQ posted a very impressive set of headline Q1 sales yesterday, though the stock is now under pressure before the bell on Thursday, down more than 6% at the time of writing.

In Q1, the largest quantum computing company by market cap and sales reported:

• Revenue of $64.7 million (compared to analyst estimates of $49.7 million and guidance for $48 million to $51 million).

• An adjusted loss per share of $0.34 (estimate: a $0.24 loss).

• Adjusted EBITDA that came in at minus $97 million (wider than the $78 million loss that analysts estimated).

On the revenue front going forward, management expects Q2 sales between $65 million and $68 million (estimate: $54.9 million), and raised its full-year sales guidance by $25 million to a range of $260 million to $270 million.

The less than stellar reaction to the print might just be some of the air coming out of the stock, which from April 9th to yesterday's close had gained an eye-watering 87%.

Indeed, even taking today’s dip into account, IonQ is still up for the year, with the quantum computing space getting some of its mojo back lately as speculative appetite returned in April after the US and Iran agreed to a ceasefire. The cohort was later turbocharged after Nvidia unveiled a suite of open models designed to leverage AI to improve calibration and error correction for quantum computers.

Corning is spiking after Nvidia dropped $500 million for the right to buy up to 18 million of its shares.

The deal comes as part of a multiyear partnership that will see Corning “increase its U.S.-based optical connectivity manufacturing capacity by 10x and expand its U.S. fiber production capacity by more than 50% to meet the accelerating demand driven by AI factory buildouts,” per the press release.

The deal is structured around Corning issuing Nvidia two types of warrants:

• “Pre-funded” warrants for 3 million Corning shares (which account for the bulk of the $500 million to the fiber-optics company).

• “Traditional” warrants that enable Nvidia to buy 15 million shares at $180, thereby benefiting from Corning’s share price trading above that level within three years’ time (unless this partnership is terminated or Corning makes a “fundamental transaction” before that). If and when Nvidia exercises those warrants in full, CEO Jensen Huang will be cutting a much heftier check to Corning.

So while on the surface this deal may not look as big as Nvidia’s recent $2 billion investments in Marvell Technology, Coherent, and Lumentum, once all the dust settles, it could turn out to be considerably more!

Crypto markets are warming into a spring rebound as green shoots emerge in the sector.

Ethereum broke above $2,400 Wednesday morning, its highest mark since the end of January, with open interest across Binance, Bybit, OKX, Deribit, and Hyperliquid jumping to almost $12 billion from $10.7 billion on Wednesday morning, a sign new traders are opening positions, data from blockchain analytics firm Velo.xyz shows. 

Coinciding with the price action, institutional flows are positive, with ETFs seeing three straight days of inflows, totaling $260 million in the period, according to SoSoValue. 

“Crypto Spring, in our view, has commenced and like past cycles, investor sentiment and conviction are muted and bearish even as crypto prices strengthen,” BitMine Chairman Tom Lee said Monday, while announcing the firm added 101,745 ethereum tokens to its stockpile last week. 

Meanwhile, privacy and meme tokens are rallying, too:

• Dogecoin, adored by billionaire Elon Musk, has climbed as high as 11.7 cents, a level not seen since January. 

• DASH has increased 22.8% in the last 24 hours.

• Zcash, a privacy coin, rallied to a five-month high, breaking past $600 before settling at $574 as of 10:45 a.m. ET, a 33.3% surge in the same period.

Zcash’s upswing comes after Tushar Jain, cofounder and managing partner at investment firm Multicoin Capital, announced that it “built a significant position in $ZEC since February.” 

“We believe that truly private, censorship and seizure resistant assets have clear product-market fit and demand is accelerating… $ZEC is the cleanest way to express this thesis in public markets,” Jain said on X.

Shares of Hut 8 are up more than 34% in early trading on Wednesday on news the firm signed a $9.8 billion deal to lease its AI facility in Texas over a 15-year period to provide compute capacity for a “high-investment-grade” company.

While the tenant of Hut 8’s Texas data center campus remains confidential, the firm’s CEO, Asher Genoot, said in an earnings call that the tenant is not Anthropic nor Google.

The announcement comes on the same day the firm released its first-quarter earnings, which missed analysts’ expectations.

• The AI compute company and bitcoin miner reported Q1 revenue of $71 million, compared to the FactSet analyst consensus estimate of $78.4 million.

• Hut 8 also reported a Q1 net loss of $134.3 million versus a loss of $250.7 million for the prior year period.

“We continue to execute against our 2025 roadmap by advancing potential catalysts for topline growth, including the energization of Vega, the initial sitework at River Bend, and the development of our utility-scale power portfolio,” Genoot said.

“We believe these initiatives will further accelerate our ability to generate resilient near-term cash flows while building toward enduring leadership across next-generation digital infrastructure markets,” Genoot continued.

On Monday, Hut 8 entered into a $200 million bitcoin-backed credit facility with crypto prime broker FalconX, a move that not only replaces its prior arrangement with Coinbase but also reduces debt costs.

Bloomberg also reported last week that the company sold $3.25 billion of investment-grade bonds to finance the development of a turnkey data center tied to Google.

AMC shares are rising in early Wednesday trading after the theater chain reported Q1 earnings results with revenue exceeding estimates after the bell Tuesday.

Key numbers:

• Revenue of $1.05 billion (compared to analyst estimates of $972.6 million).

• Adjusted EBITDA of $38.3 million (estimate: $7.7 million).

Attendance reached 30.7 million in the US and 16.9 million internationally, with improving demand thanks to recently released movies like “Project Hail Mary,” “The Super Mario Galaxy Movie,” and “Michael.”

A prolonged string of positive operating results like these will be needed to improve AMC’s balance sheet over time. AMC is still carrying around $4 billion in debt, which management is aiming to refinance and pay down over time.

“Refinancing has bought time to delever amid the stop-and-go box-office rebound as film supply is set to improve,” Bloomberg Intelligence analysts Kevin Near and Geetha Ranganathan wrote in the wake of this release. “AMC expects to close more underperforming theaters this year and hinted that positive free cash flow may hinge on a strong 2027 movie slate.”

Analysts at Benchmark upgraded the stock to “buy” from “hold” following these Q1 results.