Check out the companies making headlines after the bell:
Shares of Alphabet rose 9% in extended trading after the Google-parent company reported second-quarter earnings that beat Wall Street’s estimates. The tech giant reported adjusted earnings per share of $14.21 on revenue of $38.94 billion, versus the $11.30 EPS and $38.15 billion in revenue analysts polled by Refinitiv had been expecting. Alphabet plans to repurchase up to $25 billion of its Class C capital stock, the company said.
Amazon dipped 2.5% after the company reported mixed second-quarter earnings and lower-than-expected growth of 37% in Amazon Web Services — its most lucrative business. The company reported earnings per share of $5.22 on revenue of $63.4 billion, versus the expected earnings per share of $5.57 on revenue of $62.48 billion, forecast by analysts surveyed by Refinitiv.
Starbucks climbed nearly 6% after the coffee chain beat analysts’ expectations for its third-quarter earnings and raised its full-year forecast. The company reported adjusted earnings of 78 cents per share on revenue of $6.82 billion. Analysts had expected earnings per share of 72 cents on revenue of $6.67 billion, according to Refinitiv. Starbucks saw sales at U.S. stores grow by 7%, and added 400,000 members to its U.S. loyalty program during the quarter. The company now expects adjusted full-year earnings per share in the range of $2.80 to $2.82, up from a prior range of $2.75 to $2.79 per share.
Shares of Intel jumped more than 6% after the chipmaker’s second-quarter earnings topped Wall Street’s expectations and the company released an optimistic forecast. Intel reported adjusted earnings per share of $1.06 on revenue of $16.51 billion. Analysts polled by Refinitiv had expected earnings per share of 89 cents on revenue of $15.70 billion. The Client Computing Group — Intel’s largest business segment — posted $8.84 billion in revenue, above the $8.13 billion average estimate analysts surveyed by FactSet had expected.
Mattel climbed as much as 7%, before pairing gains slightly, after the toy manufacturer reported second-quarter earnings with a narrower-than-expected loss, and strong Barbie doll and Hot Wheels car sales. Adjusted for one-time items, the company lost 25 cents a share, versus the 40 cents a share analysts had predicted it would lose.
