In afterhours trading, several companies made headline-worthy moves. Alphabet, the parent company of Google, saw its shares jump 15% after reporting first-quarter earnings of $1.89 per share, beating analysts’ estimates of $1.51 per share, and revenues of $80.54 billion, surpassing expectations of $78.59 billion. The search giant also announced its first ever dividend and a $70 billion buyback. Microsoft’s shares climbed 4.5% after reporting fiscal third-quarter results that exceeded Wall Street’s expectations. Snap, the social media firm, saw its shares soar over 27% after reporting first-quarter results that beat analysts’ estimates, with revenue increasing by 21% to $1.19 billion due to improvements in its advertising platform.
On the other hand, Intel’s stock slid 8% in extended trading after the company missed expectations for first-quarter sales and provided a weak forecast for the current quarter, despite beating Wall Street earnings expectations. Dexcom, a manufacturer of glucose monitoring systems, fell 8% even after reporting beats on both the top and bottom lines. The company reported adjusted earnings of 32 cents per share on revenue of $921 million, surpassing analyst expectations of 27 cents per share and $909.9 million in revenue. Gilead Sciences, a biotech company, jumped nearly 3% after posting a better-than-feared quarterly report, with a loss of $1.32 per share, narrower than the expected loss of $1.49 per share, and revenue of $6.69 billion, above expectations.
Skechers, the shoe company, advanced more than 7% after reporting first-quarter earnings of $1.33 per share and revenue of $2.25 billion, exceeding analyst expectations of $1.10 per share and $2.2 billion in revenue. L3Harris Technologies, an aerospace and defense company, saw its shares rise nearly 2% after delivering a stronger-than-expected report, with an adjusted EPS of $3.06, surpassing consensus estimates of $2.90 per share, and revenue of $5.21 billion, higher than the estimated $5.11 billion. Overall, the companies making headlines after the bell experienced a mix of positive and negative reactions from investors based on their quarterly earnings reports and future outlooks.
In summary, Alphabet, Microsoft, and Snap saw their shares surge in afterhours trading after reporting strong first-quarter earnings that beat analysts’ estimates. Intel and Dexcom, on the other hand, faced share price declines as their results fell short of expectations in certain areas. Gilead Sciences exceeded expectations with a better-than-feared quarterly report, leading to a jump in its stock price. Skechers and L3Harris Technologies also outperformed expectations, driving increases in their share prices. The market reactions to these companies’ earnings reports reflect investors’ reactions to their financial performance and guidance for the future.
