Apple saw its shares rise slightly after beating analysts’ estimates on both the top and bottom lines. The company reported earnings of $1.40 per share for the fiscal third quarter, surpassing the $1.35 per share expectation. However, Intel faced a significant setback as its stock sank 17% in extended trading. The chipmaker announced the suspension of its dividend in the fiscal fourth quarter and plans to lay off 15% of its workforce. The worse-than-expected quarterly results contributed to the drop, along with disappointing guidance for the upcoming quarter.
Shares of e-commerce giant Amazon fell 5% after reporting weaker-than-expected revenue for the second quarter and issuing a disappointing forecast for the third quarter. On the other hand, DoorDash saw a significant increase in its stock price, jumping nearly 14% after reporting a revenue beat in the second quarter. The company posted $2.63 billion in revenue, exceeding the estimated $2.54 billion.
The crypto exchange operator Coinbase experienced a 5% increase in its shares during after-hours trading, with revenue coming in slightly above estimates at $1.45 billion for the second quarter. Meanwhile, fintech company Block rallied more than 7% on better-than-expected adjusted earnings of 93 cents per share in the second quarter, compared to the consensus estimate of 84 cents per share.
Snap, the parent company of the instant messaging app, saw its shares plummet 17% due to lower-than-expected third-quarter adjusted earnings and revenue. Conversely, Roku’s stock price rose over 5% after posting second-quarter results that exceeded expectations. The streaming device company reported a narrower-than-expected quarterly loss of 24 cents per share and revenue of $968 million, beating estimates.
Clorox’s stock advanced 4% after issuing full-year earnings guidance above analyst expectations. Coterra Energy, on the other hand, dipped 1.8% following disappointing earnings results in the second quarter. Web hosting company GoDaddy experienced a 6% increase in shares after raising its revenue guidance for the full year. Software company Atlassian saw a 13% decline as its forward outlook failed to meet investor expectations. Finally, online travel reservation company Booking Holdings slumped 4% after missing consensus estimates for gross bookings in the second quarter.
The after-hours stock market saw a mix of winners and losers, with companies such as Apple and DoorDash surpassing expectations, while others like Intel and Atlassian faced challenges. Investors should continue to monitor these companies closely as they navigate the ever-changing market landscape.