Let’s check out the companies that are becoming a hot topic for after-hours trading. Alphabet — Google’s parent company’s stock rose nearly 5% on strong performance, including better-than-expected Google Cloud revenue and YouTube ad revenue. Alphabet’s adjusted earnings were $3.10 per share, beating LSEG’s estimate of $2.33 per share. The search giant reported revenue of $102.35 billion for the period, compared to analysts’ expectations of $99.89 billion. MGM Resorts — The casino-hotel operator fell 6% after the market Wednesday after its third-quarter profit was lower than expected due to a decline in visitors to Las Vegas. Adjusted earnings were 24 cents per share on revenue of $4.25 billion. Analysts had expected MGM to earn 40 cents a share on sales of $4.23 billion. Meta — Shares of Meta, Facebook’s parent company, fell nearly 9% after the market closed despite strong gains in sales and bottom line. Meta reported third-quarter adjusted earnings of $7.25 per share on revenue of $51.24 billion, compared to analyst estimates compiled by LSEG of $6.69 per share and revenue of $49.41 billion. The company said it collected nearly $16 billion in one-time charges during the period related to President Donald Trump’s Big Beautiful Act and said it expects capital spending in 2026 to be higher than this year. Chipotle — Shares of the Mexican food chain fell more than 13% after the company lowered its same-store sales forecast for the third consecutive quarter. Chipotle said visits to its restaurants are down. The company currently expects same-store sales to decline by a low single-digit rate in fiscal 2025. Microsoft — Microsoft stock fell 2% even as the tech giant reported better-than-expected results for its fiscal first quarter as revenue from its Azure cloud business rose 40%. Microsoft’s adjusted earnings were $4.13 per share and revenue of $77.67 billion, compared with analysts’ estimates compiled by LSEG of $3.67 per share and revenue of $75.33 billion. ServiceNow — ServiceNow raised its full-year outlook, citing strong AI demand, sending shares up about 3% in after-hours trading. The software solutions provider reported adjusted earnings of $4.82 per share on revenue of $3.41 billion. Analysts had expected earnings of $4.27 per share on revenue of $3.35 billion. Starbucks — Starbucks stock fell less than 1% after reporting weaker-than-expected earnings. The company’s coffee chain announced that same-store sales increased for the first time in about two years, supported by overseas sales. Starbucks earned 52 cents per share, excluding merchandise, on sales of $9.57 billion. Earnings fell short of LSEG’s estimate of 56 cents per share, but sales beat expectations of $9.35 billion. Carvana — Shares of the automotive e-commerce platform fell 9% despite reporting better-than-expected revenue as retail unit sales rose 44% in the third quarter. The company also reported adjusted earnings per share of $1.50, but it wasn’t immediately clear whether the results matched analysts’ consensus expectations. Cleveland-Cliffs — After the Cleveland-Cliffs announced it would sell 75 million shares, its stock price fell more than 8%. Proceeds from the proposed offering will be used to repay debt. Sprouts Farmers Market — The natural and organic grocery chain fell more than 20% in late trading after third-quarter same-store sales and profits fell short of Wall Street expectations, according to consensus estimates compiled by FactSet. Fourth-quarter earnings per share and same-store sales forecasts were also lower than expected. Ebay — The online marketplace company’s stock fell about 5% after the company reported lower-than-expected fourth-quarter profit guidance. However, third-quarter results outperformed both sales and bottom line profits. eBay reported pre-item earnings of $1.36 per share, while analysts were expecting $1.33 per share, per LSEG. The company’s revenue was $2.82 billion, also beating the consensus estimate of $2.73 billion. —CNBC’s Scott Schnipper and Christina Cheddar Berk contributed reporting.
Alphabet, Meta, Starbucks, Microsoft, etc.
