Amazon’s shares saw nearly a 2% increase after the company exceeded both top and bottom-line expectations. With earnings of 98 cents per share on $143.31 billion in revenue, Amazon outperformed analysts’ forecasts of 83 cents per share on $142.5 billion in revenue. Despite beating expectations in advertising and Amazon Web Services, the company’s second-quarter revenue forecast fell short of estimates.
Starbucks witnessed a nearly 10% drop in share price in extended trading hours as the coffee chain failed to meet fiscal second-quarter estimates on the top and bottom lines. With earnings of 68 cents per share on revenue of $8.56 billion, Starbucks missed analysts’ predictions of 79 cents per share for earnings and $9.13 billion for revenue.
Advanced Micro Devices Drops
Advanced Micro Devices (AMD) experienced a more than 7% decline after its gaming segment revenue for the first quarter plummeted by 48% year-over-year to $922 million. Although total revenue slightly exceeded expectations at $5.47 billion compared to the consensus estimate of $5.46 billion, AMD provided a revenue forecast for the current quarter in line with analysts’ predictions of $5.70 billion.
Pinterest Surges
Pinterest’s shares surged by almost 19% following an earnings and revenue beat in the first quarter. With adjusted earnings of 20 cents per share, surpassing forecasts for 13 cents per share, and accelerated revenue growth, Pinterest impressed investors with its performance.
Super Micro Computer witnessed an 8% drop in shares after posting fiscal third-quarter revenue of $3.85 billion, missing the consensus estimate of $3.95 billion. Even though adjusted per-share earnings of $6.65 exceeded expectations of $5.78, the company’s performance fell short of investor expectations.
Chesapeake Energy Remains Unchanged
Chesapeake Energy saw little change in share price after posting disappointing earnings of 56 cents per share, excluding items. The results missed the consensus estimate of 59 cents per share, highlighting the challenges faced by the natural gas producer.
Caesars Entertainment Disappoints
Caesars Entertainment experienced a 3% decline in its stock price after reporting disappointing first-quarter results. With a wider-than-expected loss of 73 cents per share, compared to analysts’ estimates of 7 cents per share, and revenue missing forecasts at $2.74 billion versus $2.84 billion, Caesars faced a setback in its financial performance.
Mondelez International Slips
Despite announcing better-than-expected first-quarter results, Mondelez International’s shares slipped by more than 1%. With adjusted earnings of 95 cents per share on $9.29 billion in revenue, the company outperformed analysts’ estimates of 89 cents per share and $9.16 billion in revenue. However, management cautioned that currency translation could impact net revenue growth this year.
Diamondback Energy Beats Expectations
Diamondback Energy reported earnings of $4.50 per share, excluding items, surpassing analysts’ estimates by 4 cents per share for the first quarter. With revenue reaching $2.23 billion, exceeding expectations of $2.10 billion, Diamondback Energy’s performance was stronger than anticipated.
Clorox Faces Revenue Miss
The consumer goods company, Clorox, experienced a 3% drop in share price after revenue in the fiscal third quarter fell short of estimates at $1.81 billion compared to $1.87 billion predicted by analysts. Despite challenges in revenue performance, Clorox continues to navigate the competitive consumer goods market.
By analyzing the winners and losers in the stock market after hours, investors gain valuable insights into the financial performance of companies across various sectors. While some companies exceeded expectations and saw surges in share price, others faced challenges and witnessed declines. It is essential for investors to monitor the market closely and assess the underlying factors contributing to these outcomes to make informed decisions about their portfolios.