The stock market had another mixed day on Wednesday. This time, it was the Dow Jones Industrial Average's (^DJI -0.65%) day to shine, with the benchmark being the only one to post a gain on the day. Even so, the declines for the Nasdaq Composite (^IXIC -1.79%) and S&P 500 (^GSPC -1.20%) certainly weren't overly steep.


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Data source: Yahoo! Finance.

Both Uber Technologies (UBER -2.50%) and MGM Resorts International (MGM 0.87%) were among winning stocks in Wednesday's regular session. However, both stocks gave back a portion of their gains after hours following respective announcements about their latest financial performance.

Uber drives growth

After rising 6% in the regular session on Wednesday, Uber shares fell about 3% just before 5 p.m. EST in after-hours trading. The ride-hailing car service's  financials for the fourth quarter showed the impact of the COVID-19 pandemic, and that was enough to leave growth-hungry shareholders feeling unsatisfied.

Uber reported gross bookings down 5% year over year, leading to a 16% revenue decline in Q4. What really crushed Uber was the decline in the use of its core mobility services where year-over-year sales were down by more than half. Meanwhile, delivery revenue from Uber Eats and similar services helped to make up the shortfall, more than tripling from year-ago levels.

Uber CEO Dara Khosrowshahi tried to keep attention focused on the long run. "While 2020 certainly tested our resilience," the CEO said, "it also dramatically accelerated our capabilities in local commerce." In addition, Uber saw considerable revenue growth in overseas markets, most notably in the Asia-Pacific region where sales soared 70%.

Few companies are looking forward to coronavirus vaccine deployment more than Uber. Once people start traveling again, Uber should see its core business return to a growth trajectory, and that could get investors excited about the stock once more.

Craps table with stick, chips, dice, and various bets.

Image source: Getty Images.

A tough bet for MGM

Elsewhere, MGM Resorts shares were down almost 3% in after-hours trading around 5 p.m. EST. That more than reversed about a 2% move higher in the regular trading session.

The casino resort operator faced a tough end to a very difficult year. Revenue in Q4 fell by more than half from year-ago levels, and the company lost $0.90 per share on an adjusted basis compared to a small adjusted profit in the prior-year quarter. Sales from Las Vegas Strip properties were down by two-thirds, while the MGM China unit took a 58% sales haircut. Regional operations held up reasonably well but were still down a third year over year.

For the full year, the news was even worse. Revenue was down 60%, and MGM lost $3.94 per share. Performance was worst in China, but Vegas and regional domestic properties also saw massive declines.

Nevertheless, MGM is hoping that it can pivot toward online gambling in an effort to make up for some of its lost revenue. The company's BetMGM should be in 20 different markets by the end of the year, and launches in Iowa, Michigan, and Virginia went well.

There's plenty of pent-up demand for trips to gambling destinations, and MGM should be able to recover in time. How long the recovery period will take, however, remains uncertain, and that's what's making shareholders nervous Wednesday afternoon.