In extended trading, several companies were making headlines for their earnings reports. Amazon saw its shares rise nearly 2% after beating expectations on both top and bottom lines. The company reported earnings of 98 cents per share on $143.31 billion in revenue, surpassing analyst forecasts. However, its second-quarter revenue forecast fell short of estimates. Starbucks, on the other hand, saw its shares drop by almost 10% after missing fiscal second-quarter estimates. The coffee chain earned 68 cents per share on revenue of $8.56 billion, below analyst expectations.
Advanced Micro Devices saw its shares fall more than 7% after its gaming segment revenue for the first quarter declined by 48% year-over-year. Despite total revenue slightly exceeding expectations at $5.47 billion, the company’s forecast for the current quarter was in line with analyst estimates. Conversely, Pinterest’s shares surged nearly 19% following an earnings and revenue beat in the first quarter. The company reported adjusted earnings of 20 cents per share, outperforming forecasts, and saw accelerated revenue growth.
Super Micro Computer saw its shares drop nearly 8% after missing revenue estimates for the fiscal third quarter. The company reported revenue of $3.85 billion, below the consensus estimate of $3.95 billion, but its adjusted per-share earnings of $6.65 exceeded estimates. Chesapeake Energy’s shares remained largely unchanged after posting disappointing earnings of 56 cents per share, missing the consensus estimate. Caesars Entertainment also saw a decline in its stock price, losing about 3% on disappointing first-quarter results.
Mondelez International reported better-than-expected first-quarter results, with adjusted earnings of 95 cents per share on $9.29 billion in revenue. Despite this, the company’s shares slipped more than 1% as management projected a negative impact from currency translation on net revenue growth. Diamondback Energy posted earnings of $4.50 per share, beating analyst expectations for the first quarter, but its shares fell 1% after hours. Clorox also saw a decline in its stock price, with revenue in the fiscal third quarter coming in below estimates at $1.81 billion.
Overall, the companies making headlines in extended trading had mixed results in their earnings reports. While some, like Amazon and Pinterest, outperformed expectations and saw their stock prices rise, others, such as Starbucks and Super Micro Computer, fell short of estimates and experienced declines. The various factors impacting each company’s performance, from revenue growth to forecast accuracy, influenced investor sentiment and stock movement in after-hours trading.
