Stocks making the biggest moves after hours: Microsoft, Alphabet, Snap and more

by | Oct 24, 2023 | Financial

Check out the companies making headlines in extended trading. Microsoft — Shares jumped more than 3% after the maker of Windows software and Xbox video games reported fiscal first-quarter results that topped analysts’ estimates. Microsoft posted earnings per share of $2.99 on $56.52 billion in revenue. Meanwhile, analysts had forecast EPS of $2.65 on $54.50 billion in revenue, according to LSEG, formerly known as Refinitiv. Microsoft’s profit jumped due to slower operating expense growth, as well as better-than-expected revenue from its Azure cloud segment. Alphabet — The Google and YouTube parent fell 5% despite beating analysts’ estimates on both top and bottom lines in the third quarter. Revenue growth reaccelerated to 11% from the previous quarter, the first time revenue reached double digits in four quarters. However, revenue from Google Cloud came in at $8.41 billion, well below consensus estimates of $8.64 billion, according to StreetAccount. Visa — The global payments company gained 1.7% after posting an earnings and revenue beat in the fiscal fourth quarter. Visa raised its dividend approximately 16% and authorized a $25 billion share buyback. Snap — Snapchat’s parent inched higher after its third-quarter results. Snap posted earnings of 2 cents per share on revenue of $1.19 billion. Analysts polled by LSEG had estimated a loss of 4 cents per share on revenue of $1.11 billion. CEO Evan Spiegel highlighted …

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