Stocks making the biggest moves after hours: Alphabet, Visa, Chipotle, AMD and more
Check out the companies making headlines in after-hours trading: Chipotle Mexican Grill — The burrito chain reported mixed quarterly results and shares dipped 3%. Chipotle reported adjusted earnings of 27 cents per share, exceeding expectations of 25 cents a share from analysts polled by LSEG. Revenue came out at $2.79 billion for the period, just shy of analysts’ forecast of $2.82 billion. The company’s same-store sales rose 6% for the quarterly period, also falling short of estimates. Alphabet — Shares of the Google parent added 4% after the company exceeded Wall Street’s top- and bottom-line estimates . Alphabet posted earnings of $2.12 per share on revenue of $88.27 billion, while analysts polled by LSEG expected earnings of $1.85 per share on $86.30 billion in revenue. The megacap tech titan saw its revenue grow 15% year over year, stronger than the same quarter last year, as Google Cloud revenue beat expectations. Snap — The maker of the instant messaging app jumped nearly 8%. Third-quarter adjusted earnings came in at 8 cents per share, while revenue was $1.37 billion. Analysts were looking for 5 cents a share in earnings and revenue of $1.36 billion. Snap also announced a $500 million stock repurchase program. Qorvo — Shares of the semiconductor solutions provider dropped 15%. Qorvo issued disappointing earnings guidance for the fiscal third quarter, saying it expects adjusted earnings to come out in the range of $1.10 to $1.30 a share, while analysts polled by LSEG expected $1.92 a share. The company’s management said it expects Qorvo’s fiscal 2025 revenue and gross margin to be slightly down compared to fiscal 2024. Qorvo’s fiscal second-quarter earnings and revenue exceeded estimates, however. Visa — The global payments company beat earnings and revenue expectations for the fiscal fourth quarter, driving shares up about 1.5%. Visa posted adjusted earnings of $2.71 per share on revenue of $9.62 billion. Analysts polled by LSEG expected earnings of $2.58 per share on revenue of $9.49 billion. The company also increased its quarterly dividend by 13% to 59 cents. Advanced Micro Devices — Shares of the semiconductor company slid 7%. AMD gave fourth-quarter revenue guidance of $7.5 billion, merely meeting the Street’s estimates, per LSEG. Adjusted earnings for the third quarter came in at 92 cents per share, in line with analysts’ expectations. Reddit — The social media company posted beats on the top and bottom lines in the third quarter, sending shares higher by 18%. Reddit reported earnings of 16 cents per share on revenue of $348 million, while analysts expected a loss of 7 cents per share and revenue of $313 million, per LSEG. The company also issued a rosy forecast for the fourth quarter. First Solar — The solar panel manufacturer tumbled 3% after cutting its full-year guidance. First Solar also missed Wall Street’s expectations in the third quarter, posting earnings of $2.91 per share on revenue of $888 million. Analysts sought $3.14 per share in earnings and revenue of $1.08 billion, per LSEG. Electronic Arts — Shares of the video game company added nearly 2%. Electronic Arts reported fiscal second quarter earnings of $1.11 per share, compared to the year-ago period’s $1.47 per share. Net bookings came in at $2.08 billion, up from $1.82 billion in the same quarter a year earlier. Correction: An earlier version incorrectly compared Electronic Arts’ GAAP earnings to the Street’s non-GAAP estimates.
