In after-hours trading, Apple shares surged by an impressive 7% following the announcement of a $110 billion share repurchase and a strong financial performance. The iPhone maker reported fiscal second-quarter earnings of $1.53 per share and revenue of $90.75 billion, surpassing analysts’ estimates.
Expedia, on the other hand, saw its shares decline by approximately 8% after the online travel company lowered its full-year guidance due to slowness in its Vrbo vacation rental business and the rate of acceleration in business-to-consumer bookings. Despite the guidance reduction, Expedia still reported better-than-expected first-quarter revenue of $2.89 billion.
Amgen experienced a notable surge of 11% after posting adjusted earnings of $3.96 per share and revenue of $7.45 billion in the first quarter. These results beat analysts’ expectations, and the company announced it would advance its injectable obesity drug into a phase 3 trial while discontinuing development of an experimental weight loss pill.
Fortinet shares took a hit, tumbling by 8% after the security company’s billings guidance for the second quarter and full year fell slightly short of analysts’ expectations. However, the company reported adjusted earnings of 43 cents per share and revenue of $1.35 billion in the first quarter, beating analysts’ estimates.
Block, the payment services provider, saw its shares rise by 6% after reporting adjusted earnings of 85 cents per share and revenue of $5.96 billion in the first quarter. These results surpassed analysts’ estimates, contributing to the positive after-hours performance.
Cloudflare, the cloud services provider, faced a setback with a 13% decline in its shares after the company issued weak guidance on revenue for the full year. Despite the disappointing guidance, the company reported first-quarter results that beat analysts’ estimates, with adjusted earnings of 16 cents per share and revenue of $379 million.
DaVita, the health-care provider, experienced a 3% gain in its shares during extended trading. The company reported first-quarter adjusted earnings of $2.38 per share, exceeding analysts’ estimates of $1.95 per share. Revenue of $3.07 billion also beat expectations, contributing to the positive after-hours performance.
