Amazon, Pinterest, Gilead & extra
A worker builds on 30.
Clodagh Kilcoyne | Reuters
Check out the companies that hit the headlines Thursday after the bell:
Amazon – Amazon shares fell more than 6% in after-hours trading after the company reported its first loss of revenue in three years and gave poor guidance for the third quarter. For the three months ending September 30, Amazon expects sales between $ 106 billion and $ 112 billion, well below the consensus estimate of $ 119.2 billion.
Skyworks Solutions – The California-based semiconductor company reported earnings per share of $ 2.15 per share for the third quarter, just above analysts’ forecast of $ 2.14 per share, according to Refinitiv. Sales also just exceeded the estimates. The company’s stock fell 5% on the night’s session despite the company’s strong guidance for the fourth quarter.
Gilead Sciences – The biopharmaceutical company saw equity fall a little more than 2%, even after making a profit jump in the second quarter. Gilead said its sales grew 21% thanks to demand for its therapies such as Remdesivir to treat Covid-19 and its products for the hepatitis C virus. Net income was $ 1.52 billion for the quarter, compared to a loss of $ 3.34 billion a year earlier.
T-Mobile – T-Mobile shares were down more than 2% in expanded trading after the telecommunications company posted a modest revenue decline in the second quarter. Revenue rose 13% to $ 19.95 billion, compared to $ 19.34 billion expected by analysts surveyed by Refinitiv.
Pinterest – Pinterest stocks fell 16% in expanded trading after the social media service reported monthly active user numbers that were below Wall Street’s expectations for its second-quarter earnings. The company also said it expects third-quarter revenue to grow in the “low 40%” year-over-year range, below what some analysts had forecast.