Amazon surprised investors by beating both top and bottom-line expectations in their recent earnings report. Earnings per share came in at 98 cents, surpassing analysts' forecasts of 83 cents. Revenue also exceeded expectations at $143.31 billion. Despite this positive outcome, the company's second-quarter revenue forecast fell short of estimates.
On the other hand, Starbucks disappointed the market with its fiscal second-quarter results. The coffee chain missed both earnings and revenue estimates, reporting 68 cents per share on $8.56 billion in revenue. Analysts had anticipated earnings of 79 cents per share and revenue of $9.13 billion. As a result, Starbucks shares dropped nearly 10% in extended trading.
Advanced Micro Devices (AMD) witnessed a decline of over 7% after its first-quarter gaming segment revenue dropped by 48% year-over-year to $922 million. However, total revenue slightly surpassed expectations at $5.47 billion. The company's revenue forecast for the current quarter aligns with analysts' estimates of $5.70 billion.
In contrast, Pinterest experienced a significant surge of nearly 19% in its stock price after reporting better-than-expected earnings and revenue in the first quarter. Adjusted earnings per share came in at 20 cents, topping forecasts of 13 cents. Revenue growth also accelerated during the quarter, leading to a positive market response.
Super Micro Computer faced a setback as its fiscal third-quarter revenue of $3.85 billion missed the consensus estimate of $3.95 billion. Despite adjusted per-share earnings exceeding expectations at $6.65, the company's stock dropped by almost 8%. Strong fourth-quarter revenue guidance was issued in an attempt to reassure investors.
Chesapeake Energy's disappointing earnings of 56 cents per share, excluding items, resulted in little change in its stock price. The results fell short of the FactSet consensus estimate of 59 cents per share, highlighting challenges for the natural gas producer.
Caesars Entertainment experienced a decline of approximately 3% following disappointing first-quarter results. The casino stock posted a wider-than-expected loss of 73 cents per share, compared to analysts' estimates of 7 cents per share. Revenue also missed forecasts, further impacting investor sentiment.
Despite announcing better-than-expected first-quarter results, Mondelez International saw a decrease of more than 1% in its stock price. The snack company reported adjusted earnings of 95 cents per share on $9.29 billion in revenue, surpassing analysts' estimates. However, concerns regarding currency translation impacting net revenue growth lingered among investors.
Diamondback Energy exceeded analysts' estimates with earnings of $4.50 per share in the first quarter. Revenue also outperformed expectations at $2.23 billion. However, the company's shares dipped by 1% in after-hours trading, reflecting mixed market reactions to the results.
Clorox
Consumer goods company Clorox experienced a 3% decline in its stock price after reporting revenue of $1.81 billion in the fiscal third quarter, missing estimates of $1.87 billion. The market response to the results highlights the challenges faced by Clorox in a competitive landscape.
Overall, the after-hours trading session showcased a mix of winners and losers in the stock market, reflecting the diverse outcomes of earnings reports across different companies. The market's response to these reports provides valuable insights into investor sentiment and expectations for future performance in the current economic landscape.