People walk past Snap Inc. signs. Snapchat shown in downtown Los Angeles, California on October 2, 2021.
Patrick T. Fallon | AFP | Getty Images
Check out the companies making headlines after the bell:
Snap – Shares of Snapchat’s parent company tumbled more than 26% in extended trading after reporting a top- and bottom-line miss last quarter. Snap also said revenue was flat so far in the current quarter from a year earlier and that it plans to slow hiring.
Social media — Shares of social media fell after hours amid disappointing quarterly results from Snap. Meta Platforms, Alphabet, Twitter and Pinterest fell 5%, 3%, 1.9% and 6.9% respectively after the report. Investors worry that these companies could be hurt by a slowdown in online ad sales.
Mattel — Shares of the toy maker fell 2.8% after hours despite a top- and bottom-line hit last quarter. Mattel said revenue was hurt by currency headwinds as the dollar jumped. Despite the big beat, the company reiterated its forecast.
Capital One Financial — Financial services shares fell 4.9% in extended trading after posting disappointing results last quarter. Earnings per share were 13 cents short of analysts’ expectations, while revenue fell $6 million.
Intuitive Surgical — Shares of the medical device company tumbled 12.6% in after-hours trading after reporting a lack of profit and revenue in the latest quarter. Intuitive Surgical reported adjusted earnings per share of $1.14 on $1.52 billion in revenue.
Boston Beer — Shares of the brewer sank 8.4% in extended trading after missing estimates for last-quarter earnings per share by 12 cents and cutting its full-year guidance. Boston Beer reported $616.2 million in revenue last quarter, slightly above consensus expectations of $600.5 million.
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