Here’s an exciting market update from CNBC, as some of the biggest names in the technology industry have made headlines after trading hours:
Shares of Facebook popped more than 7% in extended trading Wednesday following the release of the social media giant’s first-quarter earnings. Facebook reported earnings per share of 85 cents, which was not comparable to analysts’ estimates due to a $3 billion legal expense related to a Federal Trade Commission inquiry into Facebook’s privacy policies.
Revenue came in at $15.08 billion, topping Wall Street’s $14.98 billion forecast, according to Refinitiv. Daily active users increased 8% year over year to total 1.56 billion. Average revenue per user was $6.42, beating estimates of $6.39.
Microsoft shares jumped more than 3% after hours Wednesday after the company posted better-than-expected third-quarter earnings. The second largest company by market valuation, behind Apple, earned $30.57 billion in revenue during the period. That tops estimates of $29.84 billion, according to analysts surveyed by Refinitiv. Earnings per share were $1.14, higher than the $1.00 expected by analysts.
Shares of Tesla seesawed after market close Wednesday based on disappointing first-quarter earnings. Elon Musk’s automaker reported a loss of $2.90 on revenue of $4.54 billion. Analysts expected a loss of 69 cents on revenue of $5.19 billion per Refinitiv.
Chipotle shares were volatile in extended trading Wednesday following the release of the restaurant company’s first-quarter earnings. Chipotle posted revenue of $1.31 billion, beating estimates of $1.26 billion. Earnings per share were $3.40, compared to the $3.01 forecast on the Street.
Chipotle’s same store sales grew 9.9%, topping estimates of 7.3%.
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