Netflix reported quarterly earnings that beat on the top and bottom line, with a 16% increase in subscribers from the previous year. However, shares dropped about 3% in after-hours trading as the company announced it would no longer report paid memberships starting next year. Intuitive Surgical, a provider of robotic-assisted surgical solutions, saw its shares rise 1% after posting stronger-than-expected results, including an adjusted EPS of $1.50 and revenue of $1.89 billion. Western Alliance, a regional bank, fell less than 1% in extended trading after reporting disappointing earnings, with an EPS of $1.60 which was below estimates. PPG Industries, a materials supplier, saw its shares edge down 0.8% after reporting adjusted earnings of $1.86 per share, matching expectations, but with revenue of $4.31 billion coming in below estimates. KB Home, a homebuilder, advanced nearly 2% after announcing a new $1 billion share repurchase authorization and a dividend hike to 25 cents a share, payable on May 23.
Overall, Netflix, Intuitive Surgical, Western Alliance, PPG Industries, and KB Home all made headlines after the bell with their latest earnings announcements and financial updates. Netflix, despite beating expectations in its quarterly earnings, saw shares drop in after-hours trading partially due to the announcement that it would no longer report paid memberships starting next year. Intuitive Surgical, on the other hand, saw its shares rise 1% after reporting stronger-than-expected results, including an adjusted EPS of $1.50 and revenue of $1.89 billion. Western Alliance, a regional bank, fell slightly in extended trading after reporting earnings that were below estimates, with an EPS of $1.60. PPG Industries also saw a slight decrease in shares after reporting earnings that matched expectations but with revenue falling below estimates. KB Home, a homebuilder, saw its shares rise nearly 2% after announcing a new $1 billion share repurchase authorization and a dividend hike to 25 cents a share.
Netflix’s decision to stop reporting paid memberships starting next year may have influenced the drop in its shares after hours, despite beating earnings expectations and showing a 16% increase in subscribers. Intuitive Surgical’s strong performance in the latest quarter, with an adjusted EPS of $1.50 and revenue of $1.89 billion beating expectations, led to a 1% increase in its shares. Western Alliance, however, experienced a slight drop in shares after reporting disappointing earnings with an EPS of $1.60 below estimates. PPG Industries also saw its shares edge down after reporting earnings that matched expectations but with revenue falling below estimates. KB Home, on the other hand, saw an increase in shares after announcing a new $1 billion share repurchase authorization and a dividend hike to 25 cents a share.
In conclusion, the companies that made headlines after the bell with their latest earnings announcements showed mixed results in after-hours trading. Netflix, despite beating expectations, saw shares drop due to its decision to stop reporting paid memberships starting next year. Intuitive Surgical, Western Alliance, and PPG Industries all experienced slight decreases in shares after reporting earnings that either exceeded or matched expectations but with some metrics falling below estimates. KB Home, however, saw its shares rise nearly 2% after announcing a new share repurchase authorization and a dividend hike. Overall, these companies will continue to be closely watched by investors as they navigate their financial performance in the coming quarters.
