Apple managed to surpass analysts’ estimates in the fiscal third-quarter earnings report. The tech giant reported $1.40 per share, outperforming the expected $1.35 per share. Revenue also exceeded expectations, coming in at $85.78 billion. These positive results led to a slight increase in the stock price during extended trading.
On the flip side, Intel faced a significant decline of 17% in extended trading after announcing plans to suspend its dividend in the fiscal fourth quarter. Additionally, the company revealed its intention to lay off 15% of its workforce. The worse-than-expected quarterly results and disappointing guidance for the current quarter added to the negative sentiment surrounding Intel’s stock.
Amazon experienced a 5% drop in extended trading following weaker-than-expected revenue for the second quarter. The e-commerce giant also issued a disappointing forecast for the upcoming quarter. Despite a 19% increase in revenue for its cloud division, Amazon’s overall performance failed to meet analysts’ estimates.
In contrast, DoorDash saw a significant surge of nearly 14% after reporting a revenue beat in the second quarter. With $2.63 billion in revenue, surpassing the estimated $2.54 billion, and an increased marketplace gross order value forecast for the third quarter, DoorDash’s stock received a positive boost after hours.
Shares of the crypto exchange operator, Coinbase, rose almost 5% in extended trading as the company reported revenue slightly above estimates in the second quarter. With $1.45 billion in revenue, Coinbase managed to outperform the expected $1.40 billion, according to LSEG. This positive news contributed to the increase in the stock price.
The fintech company Block rallied more than 7% after reporting better-than-expected adjusted earnings in the second quarter. With adjusted earnings of 93 cents per share, surpassing consensus calls of 84 cents per share, Block’s stock received a positive response from investors. However, the revenue of $6.16 billion fell short of analysts’ estimates.
On the other hand, the parent of the instant messaging app, Snap, saw its stock crater by 17% in extended trading. Disappointing third-quarter adjusted earnings guidance and revenue missing expectations led to a significant sell-off. Snap’s latest quarterly results failed to meet the Street’s forecasts, resulting in a negative reaction from investors.
Roku, the streaming device company, experienced a more positive outcome as shares jumped over 5% after posting second-quarter results that exceeded expectations. With a narrower-than-expected quarterly loss of 24 cents per share and revenue topping the consensus estimate, Roku’s stock price received a considerable boost in extended trading.
Clorox’s stock advanced 4% after issuing fiscal full-year earnings guidance that exceeded analysts’ estimates. With a range between $6.55 and $6.80 per share, Clorox outperformed the expected $6.45 in earnings per share. Additionally, the fiscal fourth-quarter adjusted earnings of $1.82 per share were higher than consensus estimates.
Coterra Energy experienced a 1.8% decline after reporting disappointing earnings results in the second quarter. With adjusted earnings of 37 cents per share, below the FactSet consensus estimate of 39 cents per share, Coterra’s stock faced a negative reaction from investors during extended trading.
Shares of the web hosting company, GoDaddy, jumped 6% after raising its revenue guidance for the full year. With full-year revenue guidance between $4.525 billion and $4.565 billion, GoDaddy outperformed analysts’ expectations. This positive news led to a significant increase in the stock price.
In contrast, the software company Atlassian sank more than 13% after disappointing investors with its forward outlook. With revenue guidance for the current quarter falling below expectations, Atlassian’s stock faced a significant decline in extended trading. Analysts had expected higher revenue figures than what the company provided.
Lastly, the online travel reservation company, Booking Holdings, slumped 4% after reporting gross bookings for the second quarter that fell short of consensus estimates. Despite beating on the top and bottom lines for the period, Booking Holdings’ stock price faced a decline in extended trading due to the missed booking expectations.
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