Alphabet, the tech giant, saw a 1% decline in its stock despite beating both top and bottom line expectations in the second quarter. While the company reported earnings of $1.89 per share on $84.74 billion in revenue, investors were disappointed by a miss in revenue from its YouTube advertising segment.
Shares of Tesla dipped 4.7% after the electric vehicle maker reported second-quarter earnings that fell short of consensus estimates. The company posted adjusted earnings per share of 52 cents, lower than the 62 cents expected by analysts. On a positive note, Tesla’s quarterly revenue came in slightly higher than the estimated $24.77 billion at $25.5 billion.
Visa saw its shares slip more than 2% after reporting a revenue miss in its fiscal third quarter. The company recorded $8.9 billion in revenue, falling slightly below the $8.92 billion forecast by analysts. Despite the revenue miss, payments volume rose by 7% in the quarter.
Shares of Seagate rallied more than 6% after the company posted an earnings and revenue beat in the fiscal fourth quarter. With earnings of $1.05 per share and revenue of $1.89 billion, Seagate outperformed analyst expectations. The company attributed its strong performance to an improving cloud environment.
The credit card issuer, Capital One Financial, experienced a 1% decrease in its stock after reporting a decline in second-quarter profit. Revenue increased by 5% to $9.51 billion, however, this was lower than what analysts had predicted. The bank attributed the profit decline to setting aside more money to offset potential credit losses.
Texas Instruments saw a 5% increase in its stock after reporting better-than-expected earnings in the recent quarter. The chipmaker recorded earnings per share of $1.22, surpassing the consensus estimate of $1.17. While revenue matched forecasts at $3.82 billion, the better-than-expected earnings drove the stock up.
The toymaker, Mattel, advanced more than 1% following the announcement of its second-quarter results. The company reported adjusted earnings per share of 19 cents, beating analysts’ estimates of 17 cents per share. However, revenue slightly missed forecasts at $1.08 billion, compared to the expected $1.1 billion. Mattel reiterated its full-year guidance and highlighted gross margin expansion.
Shares of Cal-Maine Foods, the nation’s largest egg producer, dropped 1% due to the ongoing pressure of the avian flu outbreak on its performance. The company reported earnings per share of $2.32 in the fiscal fourth quarter, slightly below analysts’ predictions. Sales of $640.8 million also fell short of estimates at $652.3 million.
Enphase Energy stock rose by 5% despite weaker-than-expected second-quarter results. The company reported earnings of 43 cents per share, 5 cents below consensus estimates. Revenue of $304 million also fell short of analyst forecasts. However, Enphase’s shares rose on the back of better-than-expected margins and a strong third-quarter revenue forecast of between $370 million and $410 million.
The insurance company, Chubb, gained nearly 1% in extended trading. Despite not reporting specific financial numbers in the article, Chubb’s stock saw an uptick, indicating positive investor sentiment towards the company.