Yahoo Finance Live anchor Julie Hyman breaks down the details around Avis Budget Group’s (CAR) fourth-quarter revenue miss, Arista Networks (ANET) stock after posting a fourth-quarter beat, and ZoomInfo Technologies’ (ZI) better-than-expected results.
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Editor’s note: This article was written by Luke Carberry Mogan.
JULIE HYMAN: Let’s take a look at what is trending after-hours now. Avis Budget shares paring losses after the car rental company reported fourth quarter earnings. The stock initially plummeted, but did gain back some ground. The company did miss the quarter’s revenue estimates by $10 million and fourth quarter profit fell by less than expected, aided by demand and cost-cutting efforts.
Shares of Arista Networks are sliding after-hours by almost 7.5%, after a strong quarter for the networking company. It did beat on the top and bottom lines and delivered a first quarter forecast in line with the Street’s expectations. But the shares are falling today. Perhaps expectations were running a little bit higher going into the report. If you look at how the shares have done year to date, they’re up about 19%.
And then there’s ZoomInfo. Those shares up 22%, zipping up on better than expected results. ZoomInfo also announcing a Copilot powered by generative AI in the release. The context for ZoomInfo is also quite important. Those shares down 13% this year. They have fallen by nearly 40% over the past year. So it’s the flip side of Arista that the expectations were quite low going into this report because of some recent struggles by the company.