Amazon, Apple, Robinhood and more

0
1
Our target is to take our local communities to the worldwide audience. Submit your story and we will help you to build your audience. Thank you Roots News Team

An Amazon truck is seen entering the LDJ5 Amazon Sort Center on April 25, 2022 in New York City.

Michael M. Santiago | Getty Images

Check out the companies making headlines in extended trading.

Amazon — Shares of the e-commerce giant tumbled by 10% after hours, after the company reported first-quarter results and issued weaker-than-expected revenue guidance for the second quarter. Amazon recorded a $7.6 billion loss on its Rivian investment after the EV maker’s shares lost more than half their value in the quarter.

Apple — Apple shares initially got a lift after a big earnings beat but turned lower after CFO Luca Maestri said on the earnings call that supply chain constraints could hinder fiscal third-quarter revenue by between $4 billion and $8 billion. Shares were down more than 4% after hours.

Robinhood — The investing app’s shares dropped more than 8% after reporting a wider-than-expected loss and shrinking revenue for the first quarter. The company also reported a decrease in monthly active users, to 15.9 million from 17.7 million a year ago.

Intel — Tech firm Intel’s shares fell more than 4% after the company issued weak guidance for its fiscal second quarter. Intel called for adjusted second quarter-earnings per share of 70 cents, compared to the 83 cents per share expected by analysts polled by Refinitiv.

Western Digital — The computer company’s shares rose more than 2% in extended trading following a strong earnings report for the company’s most recent quarter. Western Digital posted $1.65 per share in earnings for the quarter, compared to estimates of $1.49 per share, according to FactSet. It also topped revenue estimates and issued strong guidance for the next quarter.

Roku — The streaming company saw shares jump more than 7% after reporting quarterly results. Despite recording an earnings miss and weak second-quarter revenue guidance, it brought in $734 million in revenue for the first quarter, while analysts were expecting $718 million, according to Refinitiv.

Mohawk Industries — The flooring company’s shares jumped more than 10% after hours, following Mohawk’s quarterly results. Mohawk topped revenue estimates of $2.85 billion, according to FactSet, posting $3.02 billion for the quarter.



Source by [author_name]

Our target is to take our local communities to the worldwide audience. Submit your story and we will help you to build your audience. Thank you Roots News Team

LEAVE A REPLY

Please enter your comment!
Please enter your name here

20 − three =