People walk past Snap Inc’s Snapchat signage. displayed in downtown Los Angeles, California on October 2, 2021.
Patrick T. Fallon | AFP | beautiful pictures
Check out the companies that make headlines after the bell:
Snap – Shares of parent company Snapchat company plummets more than 26% in prolonged trading after reporting missing start and end lines in the recent quarter. Snap also said revenue was flat so far in the current quarter compared with the same period a year ago, and it plans to reduce hiring.
Social Media – Social media stocks fell hours after disappointing quarterly results from Snap. Meta . Platform, Alphabet, Twitter and Pinterest decreased 5%, 3%, 1.9% and 6.9% respectively after the report. Investors fear these companies could be harmed by slowing online advertising sales.
Mattel – The toy maker’s stock fell 2.8% after hours despite a decline in profits and profits in the recent quarter. Mattel said revenue has been hit by currency headwinds as the dollar soars. Despite the big defeat, the company reiterated its forecast.
Capital One Financial Financial services stocks fell 4.9% in extended trading after posting disappointing results in the recent quarter. Earnings per share were 13 cents below analyst expectations while revenue fell $6 million.
Intuitive surgery – Shares of the medical equipment company plummeted 12.6% in after-hours trading after the recent quarter’s earnings and revenue failures. Surgical Intuitive reported adjusted earnings per share of $1.14 on $1.52 billion in sales.
Boston Beer Brewer shares fell 8.4% in extended trading after losing its recent quarter earnings per share estimate by 12 cents and slashing its full-year forecast. Boston Beer reported revenue of $616.2 million for the most recent quarter, slightly above expectations of $600.5 million.
