Despite beating both top and bottom lines in the second quarter, Alphabet saw a 1% slip in its stock price during after-hours trading. The company earned $1.89 per share on $84.74 billion in revenue, surpassing consensus estimates. However, revenue in its YouTube advertising segment fell short of expectations.
Tesla
Shares of Tesla declined by 4.7% after second-quarter earnings missed consensus estimates. The electric vehicle maker reported adjusted earnings per share at 52 cents, lower than the forecasted 62 cents per share. Despite posting quarterly revenue slightly above estimates at $25.5 billion, the stock saw a notable decline.
Visa’s stock slipped more than 2% after reporting a revenue miss in its fiscal third quarter. The company’s revenue of $8.9 billion was slightly below the forecasted $8.92 billion, causing a negative reaction in after-hours trading. Visa’s payments volume, however, rose by 7% during the quarter.
Seagate
Seagate shares rallied more than 6% post announcement of an earnings and revenue beat in the fiscal fourth quarter. The company earned $1.05 per share, surpassing the estimated 75 cents per share, on $1.89 billion in revenue, beating the $1.87 billion forecast. The improved cloud environment was cited as a factor in the strong performance.
Capital One Financial
Despite a 5% rise in revenue to $9.51 billion, shares of Capital One Financial fell about 1% after its second-quarter profit declined. The bank set aside more money to offset potential credit losses, and its overall performance fell below analyst expectations.
Texas Instruments
Texas Instruments saw a 5% rise in its stock value after reporting better-than-expected earnings. The chipmaker earned $1.22 per share, exceeding the consensus estimate of $1.17 per share. Revenue of $3.82 billion was in line with forecasts, contributing to the positive stock movement.
Mattel
Mattel’s stock advanced more than 1% after revealing its second-quarter results. The toymaker reported adjusted earnings per share of 19 cents, beating analyst estimates by 2 cents. However, revenue of $1.08 billion slightly missed forecasts, leading to a mixed reaction in stock price during after-hours trading.
Shares of Cal-Maine Foods fell 1% as the avian flu outbreak continued to impact the company’s performance. While earnings of $2.32 per share were higher year-over-year, they fell short of analyst predictions. Sales of $640.8 million also missed estimates, reflecting further challenges for the egg producer.
Enphase Energy
Enphase Energy saw a 5% rise in its stock price despite reporting weaker-than-expected second-quarter results. Earnings of 43 cents per share missed consensus estimates by 5 cents, as did revenue of $304 million. However, the company’s positive margins and strong third-quarter revenue forecast boosted investor confidence.
Chubb
The insurance company, Chubb, gained nearly 1% in after-hours trading, indicating a positive reaction to its recent performance. Despite the overall market trends, Chubb managed to see a small increase in its stock value.