People walk past Snap Inc. Snapchat signage displayed in downtown Los Angeles, California on October 2, 2021.
Patrick T. Fallon | AFP | Getty Images
Discover the companies making headlines after the bell:
Snap – Shares of the social media platform jumped more than 6% in volatile after-hours trading following the company’s first-quarter earnings report. Snap missed Wall Street expectations for earnings and sales and forecast disappointing revenue growth in the current quarter. However, daily users grew by 18% per year, which was more than expected.
Gap – The retailer’s shares fell 10% after the company announced that the CEO of its Old Navy division, Nancy Green, was leaving the company this week. In light of execution challenges within its Old Navy business, Gap has also trimmed its outlook for net sales growth in fiscal 2022.
FirstEnergy – Shares of the energy company fell more than 1% in extended trading after the company reported first-quarter earnings that fell below expectations. FirstEnergy reported adjusted operating earnings per share of 60 cents, missing Refinitiv’s estimate of 62 cents. His earnings, however, exceeded expectations.
PPG Industries – The materials company saw its shares rise about 1% in after-hours trading after better-than-expected quarterly results. PPG reported earnings of $1.37 per share, beating Refinitiv’s estimate of $1.11 per share. The company reported revenue of $4.3 billion, also beating expectations.