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.
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Our finance blog is your go-to resource for expert financial advice, covering everything from personal budgeting and saving strategies to smart investing and market analysis. Stay updated with the latest trends, tips, and insights to help you make informed decisions and achieve financial success.
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