Several companies made headlines in after-hours trading, with Microsoft’s shares dropping 6% after reporting disappointing results from its cloud business in the fiscal fourth quarter. On the other hand, Advanced Micro Devices saw a 5% jump as their second-quarter results exceeded estimates, with adjusted earnings of 69 cents per share and revenue of $5.84 billion. Arista Networks added nearly 3% after beating Wall Street expectations in the second quarter, posting adjusted earnings of $2.10 per share on $1.69 billion in revenue.
Pinterest saw a 15% drop in shares after issuing disappointing guidance for third-quarter revenue, despite surpassing analysts’ expectations in the second quarter with adjusted earnings of 29 cents per share and revenue of $854 million. Starbucks’ shares added 2% despite reporting in-line earnings and quarterly revenue that fell short of analysts’ expectations due to weaker demand in both U.S. and international cafes in the fiscal third quarter. Skyworks Solutions saw a 2% drop in shares despite posting adjusted earnings of $1.21 per share and revenue of $906 million in the fiscal third quarter, in line with analysts’ expectations.
Caesars Entertainment’s shares rose 3% despite a second-quarter report showing a decline in revenue year over year, reporting $2.8 billion compared to $2.9 billion a year ago. Informatica’s stock slid 2% following underwhelming revenue for the second quarter, despite adjusted earnings per share coming in above expectations. First Solar’s shares advanced 1% as their second-quarter earnings topped expectations, with earnings of $3.25 per share on $1.01 billion in revenue. Western Union’s stock dipped nearly 8% after posting mixed second-quarter results, with adjusted earnings of 44 cents per share below expectations but revenue topping estimates at $1.07 billion.
Live Nation Entertainment saw a 3% drop in shares despite posting second-quarter earnings of $1.03 per share, slightly below the consensus estimate. Mondelez International slipped 2% as second-quarter revenue came in slightly below analysts’ expectations at $8.34 billion, despite raising its dividend by 11%. Overall, various companies experienced fluctuations in their stock prices after reporting their quarterly results, with some exceeding expectations while others fell short in key metrics such as revenue and earnings per share.
