People drive past Snap Inc’s Snapchat signage. 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 plunged more than 26% in extended trading after reporting a miss on both the top and bottom lines for the latest quarter. Snap also said revenue is flat so far in the current quarter year-over-year and that it plans to slow hiring.
Social Media: Social media shares fell after hours on Snap’s disappointing quarterly results. Platforms Meta, 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 slowing online ad sales.
Mattel: Shares of the toy maker fell 2.8% after hours despite a higher and lower pace in the last quarter. Mattel said revenue was hit by currency headwinds as the dollar soared. Despite the strong pace, the company reiterated its forecast.
Capital One Financial: Financial services shares fell 4.9% in extended trading after posting disappointing results in the latest quarter. Earnings per share were 13 cents short of analysts’ expectations, while revenue fell $6 million.
Intuitive Surgical: Shares of the medical device company plunged 12.6% in after-hours trading after reporting a miss on earnings and revenue in the latest quarter. Intuitive Surgical reported adjusted earnings per share of $1.14 on revenue of $1.52 billion.
Boston Beer: Shares of the brewer sank 8.4% in extended trading after it missed its latest quarter earnings per share estimate by 12 cents and cut its full-year forecast. Boston Beer reported revenue of $616.2 million in the latest quarter, slightly above consensus expectations of $600.5 million.