Here’s a look at the companies making headlines in after-hours trading: Microsoft – Shares of Microsoft fell 6% after the tech giant reported disappointing results for its cloud business. This masks the performance of both lines in the fiscal fourth quarter. Advanced Micro Devices – The chipmaker’s second-quarter results beat expectations and its shares rose 5%. AMD reported adjusted earnings of 69 cents per share on revenue of $5.84 billion, while analysts polled by LSEG expected earnings of 68 cents per share on revenue of $5.72 billion. Arista Networks — The computer networking company beat Wall Street estimates on both lines in the second quarter, sending its shares up nearly 3%. Arista reported adjusted earnings of $2.10 per share on revenue of $1.69 billion, while analysts polled by LSEG forecast earnings of $1.95 per share on revenue of $1.65 billion. Pinterest — Shares of the photo-sharing service fell 15%. Pinterest issued disappointing third-quarter revenue guidance, giving a range of $885 million to $900 million, falling short of analysts’ expectations. Second-quarter adjusted earnings were 29 cents per share on revenue of $854 million, beating Wall Street expectations, according to LSEG. Starbucks – Shares of Starbucks rose 2% even as it reported profit and quarterly revenue that fell short of analysts’ expectations as weak demand affected its U.S. and international cafes. Starbucks’ third-quarter adjusted earnings per share were 93 cents, in line with analysts’ expectations polled by LSEG. Revenue for the quarter was $9.11 billion, below analysts’ expectations of $9.24 billion. Skyworks Solutions — Semiconductor stocks fell 2%. Skyworks’ adjusted earnings in the fiscal third quarter were $1.21 per share, in line with analysts’ expectations, according to LSEG. Revenue for the period was $906 million, above the consensus forecast of $900 million. Caesars Entertainment — Shares of the gaming and hotel company rose 3% despite reporting a year-over-year revenue decline in the second quarter. Caesars reported second-quarter revenue of $2.8 billion, compared with $2.9 billion in the same period last year. Informatica — Cloud stock fell 2% on dismal second-quarter revenue. Informatica reported revenue of $401 million, below the $403 million expected by analysts polled by LSEG. Meanwhile, adjusted earnings per share beat Wall Street forecasts of 23 cents by 1 cent. First Solar — First Solar shares rose 1% after the company beat second-quarter profit expectations. The company earned $3.25 per share on revenue of $1.01 billion, while analysts polled by LSEG expected earnings of just $2.69 per share on revenue of $942 million. Western Union — The international money transfer and payments stock fell nearly 8% after reporting mixed second-quarter results. Adjusted earnings per share were 44 cents, below the 45 cents per share expected by analysts polled by FactSet. Revenue came in at $1.07 billion, beating consensus estimates of $1.06 billion. Shares of Live Nation Entertainment — the parent company of Ticketmaster — fell 3%. Live Nation reported second-quarter earnings of $1.03 per share, missing the consensus estimate of $1.07 per share among analysts polled by LSEG. Revenue was $6.02 billion, in line with expectations. Mondelez International — maker of Sour Patch Kids fell 2%. Second-quarter revenue was $8.34 billion, while analysts polled by LSEG expected revenue of $8.45 billion. MondelÄ“z International also raised its dividend by 11%. —CNBC’s Darla Mercado, Jesse Pound, Pia Singh and Sarah Min contributed reporting.
ABOUT US
Our news website delivers comprehensive coverage on US news, economy, politics, and world events, ensuring you stay informed on the latest developments. We provide timely and accurate news to keep you updated on the most important stories. Stay connected with us for in-depth analysis and breaking news from around the globe.
Contact us: contact@realtimeheadlines.com
© Real Times Headlines - 2024 | All Rights Reserved