Notable After-Hours Movers—Meta Platforms, Qualcomm, Arm Holdings, and More

4 min read | August 01, 2024 02:05 PM AEST | By Team Kalkine Media

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Highlights:

Meta Platforms (NASDAQ:META) and Qualcomm (NASDAQ:QCOM) saw significant gains after reporting strong earnings and positive forecasts, with Meta rising over 4% and Qualcomm up nearly 6%.

Arm Holdings (NASDAQ:ARM) and Teladoc Health (NASDAQ:TDOC) experienced declines, with Arm dropping more than 10% due to a disappointing forecast and Teladoc falling 14% after missing revenue expectations and withdrawing guidance.

Etsy (NASDAQ:ETSY), Cheesecake Factory (NASDAQ:CAKE), and eBay (NASDAQ:EBAY) had mixed results, with Etsy slightly up, Cheesecake Factory barely changing, and eBay seeing a small decline despite beating revenue and earnings estimates.

In after-hours trading, several key stocks made significant moves following their latest earnings reports. Meta Platforms (NASDAQ:META) saw a notable rise after exceeding revenue and earnings expectations, while Qualcomm (NASDAQ:QCOM) benefited from strong fiscal third-quarter results and optimistic guidance. Conversely, Arm Holdings (NASDAQ:ARM) experienced a sharp decline due to a lower-than-expected earnings forecast. Teladoc Health (NASDAQ:TDOC) also faced a steep drop after reporting disappointing revenue and withdrawing its guidance. Other notable movers include Etsy (NASDAQ:ETSY), Cheesecake Factory (NASDAQ:CAKE), and eBay (NASDAQ:EBAY), each showing varied reactions to their quarterly results. Here’s a closer look at how these companies performed and what their results mean for investors.

Meta Platforms (NASDAQ:META): Shares of the social media giant rose over 4% after exceeding revenue and earnings expectations for the recent quarter. Meta reported earnings of $5.16 per share and $39.07 billion in revenue, along with a strong forecast for the current period.
Qualcomm (NASDAQ:QCOM): The chipmaker's stock jumped nearly 6% following its fiscal third-quarter earnings beat and optimistic guidance for the current quarter. Qualcomm posted adjusted earnings of $2.33 per share and $9.39 billion in adjusted revenue, with sales expected between $9.5 billion and $10.3 billion.
Arm Holdings (NASDAQ:ARM): The semiconductor company's shares fell more than 10% despite reporting a top- and bottom-line beat for the fiscal first quarter. Arm's forecast for the fiscal second quarter was below analyst expectations, with adjusted earnings projected between 23 and 27 cents per share.
Teladoc Health (NASDAQ:TDOC): The telehealth company's stock dropped 14% after reporting lower-than-expected revenue for the second quarter. Teladoc recorded $642 million in revenue versus the $650 million forecasted by analysts and withdrew its full-year and long-term guidance.
Etsy (NASDAQ:ETSY): The e-commerce stock saw a slight increase of less than 1% after reporting mixed quarterly results. Etsy exceeded revenue expectations but fell 4 cents short on adjusted earnings compared to analyst estimates.
Cheesecake Factory (NASDAQ:CAKE): The restaurant chain's shares added less than 1% as its adjusted earnings of $1.09 per share surpassed consensus estimates. However, revenue of $904 million fell short of the expected $909.2 million.
eBay (NASDAQ:EBAY): Shares edged down about 1% despite beating on both revenue and earnings for the second quarter. eBay forecasted third-quarter adjusted earnings between $1.15 and $1.20 per share, exceeding analyst expectations.
Western Digital (NASDAQ:WDC): The data storage manufacturer’s stock tumbled 4% after issuing weaker-than-expected revenue guidance for the fiscal first quarter. Western Digital projected revenue between $4 billion and $4.2 billion, below the $4.2 billion anticipated by analysts.
Lam Research (NASDAQ:LRCX): Shares of the semiconductor equipment maker fell more than 2% despite surpassing Wall Street estimates on earnings. The company provided in-line guidance for the current quarter.
MGM Resorts (NASDAQ:MGM): The resort stock declined less than 1% despite reporting better-than-expected second-quarter results. MGM Resorts posted adjusted earnings of 86 cents per share and $4.33 billion in revenue, exceeding analyst expectations.
Kyndryl Holdings (NYSE:KD): The IT infrastructure services provider saw a slight increase of less than 1% following mixed quarterly results. Kyndryl reported $3.74 billion in revenue, falling short of the $3.79 billion anticipated by analysts.
C.H. Robinson (NASDAQ:CHRW): The logistics company's shares surged more than 8% after posting mixed second-quarter results. C.H. Robinson exceeded earnings estimates, although revenue was slightly below the $4.53 billion forecasted by analysts.

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