After-Hours Stock Movers:

Lyft (NASDAQ: LYFT) surged 65% after the ridesharing company published fourth quarter results that beat estimates. It also issued guidance for bookings that topped consensus.

Instacart (NASDAQ: CART) declined 5% after reporting mixed fourth quarter results and issuing guidance for the first quarter. It also said it plans to cut 250 jobs.

Akamai Technologies (NASDAQ: AKAM) declined 3% after reporting mixed performance in the final quarter of 2023. Guidance for the first quarter was about in-line in views.

Robinhood (NASDAQ: HOOD) gained 9% after its results beat estimates across the board in the fourth quarter, including its transaction-based revenue.

Airbnb (NASDAQ: ABNB) shares were volatile after topping revenue estimates last quarter and issuing better than expected revenue guidance for the first quarter of 2024. It also announced a $6 billion buyback program. Shares were flat after erasing a 9% gain.

Zillow (NASDAQ: Z) (NASDAQ: ZG) gained 4% after reported fourth quarter results that topped consensus on the top line and bottom line.

MGM Resorts (NYSE: MGM) declined 4% despite reporting EPS and revenue that beat consensus in the fourth quarter.

Upstart Holdings (NASDAQ: UPST) declined 20% after it reported in-line fourth quarter results and issued guidance. Projections for adjusted EBITDA were sharply below expectations.

Quidel Corp (NASDAQ: QDEL) declined 30% after reporting EPS and revenue that trailed estimates by a wide margin. It also issued guidance that was significantly below consensus.

By Louis Juricic