Stocks making the biggest moves after hours: Microsoft, Alphabet, Snap and more
Check out the companies making headlines in extended trading. Microsoft — Shares jumped more than 3% after the maker of Windows software and Xbox video games reported fiscal first-quarter results that topped analysts’ estimates. Microsoft posted earnings per share of $2.99 on $56.52 billion in revenue. Meanwhile, analysts had forecast EPS of $2.65 on $54.50 billion in revenue, according to LSEG, formerly known as Refinitiv. Microsoft’s profit jumped due to slower operating expense growth, as well as better-than-expected revenue from its Azure cloud segment. Alphabet — The Google and YouTube parent fell 5% despite beating analysts’ estimates on both top and bottom lines in the third quarter. Revenue growth reaccelerated to 11% from the previous quarter, the first time revenue reached double digits in four quarters. However, revenue from Google Cloud came in at $8.41 billion, well below consensus estimates of $8.64 billion, according to StreetAccount. Visa — The global payments company gained 1.7% after posting an earnings and revenue beat in the fiscal fourth quarter. Visa raised its dividend approximately 16% and authorized a $25 billion share buyback. Snap — Snapchat’s parent inched higher after its third-quarter results. Snap posted earnings of 2 cents per share on revenue of $1.19 billion. Analysts polled by LSEG had estimated a loss of 4 cents per share on revenue of $1.11 billion. CEO Evan Spiegel highlighted a return to sales growth during the quarter. Shares had initially surged as high as 20% in postmarket trading, before reversing gains as investors processed news that some advertisers had paused spending after the onset of the Israel-Hamas war. Texas Instruments — Shares of the semiconductor designer and manufacturer fell 4.4% after a mixed earnings report. The company posted earnings of $1.85 per share, topping analysts’ estimates of $1.82, according to LSEG. Meanwhile, revenue came in slightly below estimates at $4.53 billion against a consensus among analysts of $4.58 billion. CoStar Group — Shares tumbled nearly 9% after the commercial real estate company’s fourth-quarter earnings and revenue guidance came in below analysts’ estimates. In the third quarter, CoStar’s revenue of $625 million missed consensus estimates of $625 million, according to FactSet, while adjusted earnings per share of 30 cents matched estimates. Stride — The tech-based education company rallied nearly 12% after reporting stronger-than-expected results in its fiscal first quarter. Stride reported 11 cents in earnings per share, while analysts had estimated a loss of 37 cents per share, according to FactSet. Revenue also topped estimates, coming in at $480.2 million, compared to analysts’ estimates of $425.2 million. Enrollment strength in its General Education and Career Learning segments drove revenue growth. This post has been syndicated from a third-party source. View the original article here.
