Here are some companies that are making news in after-hours trading: Microsoft — The tech giant’s stock surged more than 6% after reporting impressive third-quarter results that exceeded expectations. Microsoft posted earnings of $3.46 per share on revenue totaling $70.07 billion, while analysts from LSEG anticipated a profit of $3.22 per share and revenue of $68.42 billion. Meta Platforms — Shares of the parent company of Facebook rose over 5%. Meta outperformed first-quarter projections with earnings of $6.43 per share and revenue of $42.31 billion. Analysts had forecasted a profit of $5.28 per share on $41.40 billion in revenue. Additionally, Meta increased its full-year capital expenditures from $72 billion to $64 billion to enhance investments in data centers for artificial intelligence. This news also lifted Nvidia’s stock by more than 2%. Amazon — The e-commerce giant’s stock climbed by over 2% after announcing plans to invest $4 billion to expand its last-mile delivery network in smaller communities. MGM Resorts — The casino operator saw a nearly 3% increase in its stock following first-quarter earnings that beat analyst expectations. MGM reported adjusted earnings per share of 69 cents, exceeding the 46 cents anticipated by analysts. However, their first-quarter revenue of $4.28 billion fell slightly short of the $4.30 billion consensus. Robinhood — Despite better-than-expected first-quarter results, shares of the trading platform dipped less than 1%. Robinhood posted earnings of 37 cents per share and revenue of $927 million, while analysts had predicted 33 cents per share and $923 million in revenue. Qualcomm — The chipmaker’s stock dropped 6% due to weaker revenue guidance. Qualcomm projects third-quarter revenue to be around $10.3 billion, while analysts were expecting $10.35 billion. This slight miss on the outlook overshadowed their strong second-quarter performance. Sprouts Farmers Market — The organic grocery retailer fell nearly 5%. Sprouts generated $2.24 billion in revenue for the first quarter, slightly exceeding the $2.21 billion forecast by analysts. However, their projected comparable store sales growth for the current quarter, estimated between 6.5% and 8.5%, did not meet the consensus estimate of 7.0%. — Reported by CNBC’s Darla Mercado.
“After-Hours Surge: Key Stocks to Watch – MSFT, META, AMZN, MGM!”
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