Stocks move a lot after hours: SNAP, EA, AMD, WDC
The Snapchat logo displayed on a phone screen is seen with a laptop in the background in this illustration photo taken in Krakow, Poland, August 10, 2022.
Jakub Porzycki | Nurphoto | Getty Images
Find out which companies are making headlines after hours.
Break – Shares of social media company Snap fell 14% after the company reported quarterly revenue that fell below Wall Street expectations. Adjusted earnings per share were $0.14 on revenue of $1.30 billion. Analysts had expected $0.11 in adjusted profit on $1.31 billion in revenue, per Refinitiv. The company did not give a forecast for the coming year. Shares of Meta also fell by 1.4% and pinterest decreased by 1.8%.
electronic arts – Shares of entertainment company Electronic Arts fell 6.7% after the company reported revenue of $2.34 billion, below the $2.51 billion expected by analysts, according to Refinitiv. The company also said it expects bookings to be lower than forecast in the future.
western digital – Western Digital fell 5.6% after reporting quarterly revenue of $3.11 billion, higher than analysts’ estimate of $2.99 billion, according to Refinitiv. The company said it expects next quarter revenue to be lower than it previously reported.
Matching group – Match Group shares fell 7.6% after the company reported quarterly revenue of $786 million, less than the $787 million expected by Wall Street, according to Refinitiv. The company also recorded a loss of $0.30 per share which was not immediately comparable to the prior quarter. Match said first-quarter revenue would likely be lower than expected.
Advanced micro-systems – AMD shares rose 3% after the company reported earnings that beat Wall Street expectations for sales and earnings. The chipmaker had adjusted earnings per share of $0.69 on $5.6 billion in revenue, while analysts expected $0.67 per adjusted share and $5.5 billion in revenue , according to Refinitiv. Still, the company said it expects revenue to decline in the first quarter.