Stocks making the biggest moves after hours: Microsoft, Meta Platforms, Amazon, MGM Resorts and more
Check out the companies making headlines in extended trading: Microsoft — Stock in the technology behemoth climbed more than 6% on the heels of better-than-expected third-quarter results on the top and bottom lines. Microsoft earned $3.46 per share on revenue of $70.07 billion, while analysts polled by LSEG were looking for a profit of $3.22 per share and $68.42 billion in revenue. Meta Platforms — Shares of the Facebook parent advanced more than 5%. Meta beat analysts’ first-quarter estimates when it reported earnings of $6.43 per share and revenue of $42.31 billion. Analysts surveyed by LSEG were expecting a profit of $5.28 per share on revenue of $41.40 billion. Meta also upped its full-year capital expenditures to $64 billion from $72 billion in order to continue investing in data centers to power artificial intelligence. Shares of Nvidia gained more than 2% on the heels of Meta’s spending plans. Amazon — Stock in the e-commerce company gained more than 2% following news that Amazon plans to invest $4 billion in building out its last-mile delivery network in small towns. MGM Resorts — The casino operator ticked up nearly 3% after first-quarter earnings surpassed analysts’ estimates. MGM reported adjusted earnings per share of 69 cents, while analysts polled by LSEG were looking for 46 cents. First-quarter revenue of $4.28 billion missed the analyst consensus that called for $4.30 billion, however. Robinhood — Shares of the trading platform pulled back less than 1% despite better-than-expected first-quarter results. Robinhood earned 37 cents per share on revenue of $927 billion. Analysts polled by LSEG were looking for 33 cents per share and $923 million in revenue. Qualcomm — Soft guidance on revenue weighed on the chipmaker’s stock, dragging it down 6%. Qualcomm sees revenue for the fiscal third quarter coming in at $10.3 billion at the midpoint. Analysts polled by LSEG sought $10.35 billion in sales. The narrow miss on the outlook overshadowed top- and bottom-line beats for the second quarter. Sprouts Farmers Market — The organic food retailer slid nearly 5%. Sprouts’ revenue of $2.24 billion in the first quarter narrowly surpassed the $2.21 billion forecast by analysts polled by FactSet. The company’s outlook for the current quarter’s comparable store sales growth ranges from 6.5% to 8.5%, with the lower end of the band missing consensus estimates for 7.0%. — CNBC’s Darla Mercado contributed to this report.
