People walk past Snap Inc. Snapchat signage displayed in downtown Los Angeles, California on October 2, 2021.
Patrick T. Fallon | AFP | Getty Images
Check out the companies making headlines after the bell:
Snap – Shares of the Snapchat parent company plummeted more than 26% in extended trading after reporting a miss on the top and bottom lines in the recent quarter. Snap also said revenue is flat so far in the current quarter year-over-year and that it plans to slow hiring.
Social media – Social media stocks slipped after hours on the back of disappointing quarterly results from Snap. Meta Platforms, Alphabet, Twitter and Pinterest fell 5%, 3%, 1.9% and 6.9%, respectively, following the report. Investors fear these companies could be hurt by slowing online ad sales.
Mattel – Shares of the toy manufacturer dropped 2.8% after hours despite a beat on the top and bottom lines in the recent quarter. Mattel said revenue took a hit from currency headwinds as the dollar soared. Despite the big beat, the company reiterated its forecast.
Capital One Financial – The financial services stock dropped 4.9% in extended trading after posting disappointing results in the recent quarter. Earnings per share came in at 13 cents below analysts’ expectations while revenue fell short at $ 6 million.
Intuitive Surgical – Shares of the medical devices company plummeted 12.6% in after-hours trading after reporting a miss on earnings and revenue in the recent quarter. Intuitive Surgical reported adjusted earnings per share of $ 1.14 on $ 1.52 billion in revenue.
Boston Beer – Shares of the brewer sank 8.4% in extended trading after missing earnings per share estimates in the recent quarter by 12 cents and slashing its full year forecast. Boston Beer reported $ 616.2 million in revenue in the recent quarter, slightly above consensus expectations of $ 600.5 million.