After Hours Stock Frenzy: Snap, EA, AMD Lead the Charge
The stock of Snap, a social media company, declined by 14% due to its quarterly revenue falling short of the expectations of Wall Street. Their adjusted earnings per share were $0.14 on revenue of $1.30 billion, while analysts predicted $0.11 in profits on $1.31 billion in revenue, based on Refinitiv data. The company failed to provide a forecast for the coming year. Meta’s shares dropped by 1.4% and Pinterest’s by 1.8%.
Entertainment firm Electronic Arts’ shares decreased by 6.7% after announcing revenue of $2.34 billion, lower than the estimated $2.51 billion according to Refinitiv. The company also stated that they anticipate bookings to be lower compared to their previous projections.
Western Digital Inc. saw its shares drop by 5.6% following the release of its quarterly revenue report, which showed a figure of $3.11 billion, higher than the estimated $2.99 billion by analysts. However, the company stated that it anticipates lower revenue in the following quarter.
Match Group’s stocks decreased by 7.6% due to its reported quarterly revenue of $786 million, which was below the expected $787 million as per Refinitiv data. Additionally, the company posted a loss of $0.30 per share, which was not immediately comparable to the previous quarter. The firm also stated that its first-quarter revenue is expected to be lower than previously estimated.
Advanced Micro Devices experienced a 3% rise in its shares after announcing earnings that exceeded both sales and profit expectations from Wall Street. The chipmaker posted adjusted earnings per share of $0.69 on revenue of $5.6 billion, where analysts anticipated $0.67 per share and $5.5 billion in revenue, respectively, according to Refinitiv. Nevertheless, the company mentioned that it expects a dip in revenue during the first quarter.