Lordstown Motors, eBay, Sonos and more

Check out the companies that made the headlines after the bell on Wednesday:

eBay – Shares of eBay are down 2.4% after the company reported disappointing second quarter earnings. eBay posted revenue of $ 2.67 billion for the quarter, missing a Refinitiv forecast of $ 3 billion. Gross merchandise volume also fell 7% year-on-year to $ 22.1 billion, and its outlook for the third quarter was clear on both profits and revenues.

Sonos – The audio maker saw its stock jump 7% following its earnings report, which stood at 12 cents a share. Analysts polled by Refinitiv had expected a loss of 17 cents per share. Sonos also reported strong revenue of $ 378.7 million, compared to an estimate of $ 313.6 million. CEO Patrick Spence said in a statement that “with more direct-to-home video content, consumers are demanding a home theater-like audio experience.”

Rackspace Technology – Shares of the cloud technology services company fell more than 5% after a disappointing third-quarter forecast overshadowed stronger-than-expected results for the previous quarter. The company said it expects third-quarter revenue to be between $ 750 million and $ 760 million. That’s below a StreetAccount estimate of $ 763.2 million. Rackspace beat the streets on second-quarter earnings and revenue, which were 24 cents a share and $ 744 million, respectively.

Lordstown Motors – Shares of the electric vehicle maker rose nearly 4.5% despite the company’s announcement of a larger-than-expected loss for the second quarter. Lordstown recorded a loss of 61 cents per share. That’s more than the 49 cents per share expected by analysts polled by Refinitiv. Lordstown said it still plans to start production of its electric truck in September, with the first deliveries starting in the first quarter of 2022.