The logo of Alphabet Inc. Google in front of the company headquarters in Beijing, China, 8 August 2018.
Thomas Peter | Reuters
Check out the companies that hit the headlines on Tuesday after the bell:
Alphabet – Google parent Alphabet saw its stocks jump about 3% according to a quarterly earnings report. The tech giant reported earnings of $ 27.26 per share, beating its refinitive forecast of $ 19.34 per share. Google also had $ 61.88 billion in revenue, beating Wall Street’s forecast of $ 56.16 billion. The company’s advertising revenue increased 69% year over year.
Microsoft – Microsoft stock fell more than 2% despite a better-than-expected quarterly earnings report. The tech company posted earnings of $ 2.17 per share, while Wall Street was targeting earnings of $ 1.92 per share, according to Refinitiv. The company’s quarterly revenue of $ 46.15 billion also beat analysts’ estimates. However, Microsoft’s revenue from device manufacturers for Windows licenses declined 3% in the quarter.
Apple – Apple stock is down about 0.8% in after-hours trading, even after the company reported earnings per share, revenue, and iPhone sale that were above Wall Street forecasts. Apple reported earnings per share of $ 1.30, sales of $ 81.41 billion, and iPhone sales of $ 39.57 billion. When asked whether the stronger iPhone sales were the result of upgrading existing iPhone customers or new customers moving from competing phones, CEO Tim Cook told CNBC that the company saw “very strong double-digit growth in both upgrades during the quarter as well as with switchers ”.
Starbucks – Starbucks shares fell 3.2% despite the company announcing third-quarter sales and earnings ahead of Wall Street estimates. The coffee maker achieved $ 1.01 per share and $ 7.5 billion in revenue as sales in the same store picked up again in both the U.S. and overseas. It now expects global sales in the same business to grow 20% to 21% in fiscal 2021, compared to a previous range of 18% to 23%.
Mattel – Mattel’s shares rose more than 3% after the company posted better-than-expected results in the previous quarter. The toy maker reported earnings of 3 cents per share on sales of $ 1.03 billion. Analysts had expected a loss of 5 cents per share on sales of 879 million US dollars.
Mondelez International – The global snack maker saw its after-hours trading fall more than 2% following the release of its latest quarterly results. Mondelez achieved earnings per share of 66 cents, exceeding the refinitive forecast of 65 cents per share. Mondelez, which includes brands like Oreo and Ritz, had sales of $ 6.6 billion in the three months ended June 30.
Teladoc Health – Teladoc Health stocks fell more than 7% despite better-than-expected quarterly earnings. The company’s virtual health company reported $ 503 million in revenue, while analysts were expecting $ 501 million, according to Refinitiv.
Advanced Micro Devices – Semiconductor stock rose 1.1% after the company reported earnings of 63 cents per share, 9 cents higher than expected by analysts polled by Refinitiv. AMD also had sales of $ 3.85 billion, beating the forecast of $ 3.62 billion. The chipmaker issued a strong third quarter sales forecast and raised its full year sales forecast.
Visa – The payment processor reported revenues of $ 6.13 billion in the three months ended June 30, which was higher than the $ 5.88 billion surveyed by Refinitiv. It also recorded adjusted earnings per share of $ 1.49, beating Refinitiv’s forecast of $ 1.35 per share. Visa shares fell 2.2% in expanded trading, the company’s earnings report follows.