After the bell, Netflix saw its shares drop by about 3% despite reporting quarterly earnings that beat expectations. The streaming giant revealed that its subscribers had increased by 16% from the previous year, but also announced that it would no longer report paid memberships starting next year. Meanwhile, Intuitive Surgical, a provider of robotic-assisted surgical solutions, saw its shares rise by 1% after reporting stronger-than-expected results. The company posted an adjusted EPS of $1.50, higher than the estimated $1.41, and revenue of $1.89 billion, slightly above expectations. On the other hand, regional bank stock Western Alliance fell less than 1% in extended trading after posting disappointing earnings. The firm’s EPS of $1.60 for the latest quarter was 4 cents below a FactSet estimate.
Materials supplier PPG Industries saw its shares edge down by 0.8% in after-hours trading after reporting adjusted earnings of $1.86 per share, which matched expectations. However, the company’s revenue of $4.31 billion came in below the estimated $4.43 billion. In contrast, KB Home, a homebuilder, advanced nearly 2% after announcing that its board of directors had authorized a new $1 billion share repurchase. This new authorization replaces an earlier one, which had $113.6 million remaining. Additionally, KB Home increased its dividend to 25 cents per share from 20 cents, payable on May 23. Overall, these companies made headlines after the bell with their earnings reports and strategic moves.
Netflix’s decision to stop reporting paid memberships starting next year could have contributed to the stock’s post-earnings drop. Meanwhile, Intuitive Surgical’s better-than-expected results likely led to the slight increase in its shares. Western Alliance’s disappointing earnings resulted in a slight dip in its stock price, while PPG Industries’ revenue missing estimates led to a small decline in its shares. On the other hand, KB Home’s announcement of a new share repurchase and increased dividend seemed to have a positive impact on its stock performance. These companies’ post-earnings moves reflect investors’ reactions to their financial results and strategic decisions.
Investors may have reacted negatively to Netflix’s announcement about no longer reporting paid memberships, as this decision could make it harder to assess the company’s performance going forward. Intuitive Surgical’s strong results could indicate continued growth potential for the provider of robotic-assisted surgical solutions. On the other hand, Western Alliance’s disappointing earnings may have raised concerns about the regional bank’s performance and outlook. PPG Industries’ revenue miss may have disappointed investors, while KB Home’s shareholder-friendly moves could signal confidence in the homebuilder’s future prospects. Overall, investors will be watching these companies closely as they continue to assess their financial health and strategic direction.
