Snapchat co-founders Bobby Murphy (l) and Evan Spiegel (c) ring the opening bell on March 2, 2017, as NYSE President Thomas Farley looks on.
Check out the companies making headlines after the bell Tuesday:
Shares of Snap soared nearly 30 percent after the bell before settling up 20.55. The technology and social media company announced earnings today that impressed Wall Street, including an EPS loss that was smaller than analysts predicted and revenue that beat estimates.
Analysts had feared a lack of progress from Snap, but the company dispelled those fears with an 8.9 million jump in global active daily users. It is also continuing to work on a redesign of the app, meant to make the app easier to use in the hopes of attracting older users.
Disney shares rose over 2 percent in the extended session. The mass media and entertainment conglomerate announced revenue that just missed expectations, but an earnings beat of nearly 30 cents. The company’s parks and resorts segment beat expectations on top and bottom lines, with numbers for parks and cruise ships improving significantly.
The company has been fighting the decrease in TV viewership through on-demand services and mobile apps. It has still suffered losses on the traditional side, but mobile growth has nearly made up for these losses. Disney’s CEO just announced a new ESPN Plus streaming service, marking its first ever direct-to-consumer offering.
Chipotle Mexican Grill stock fell nearly 5 percent in extended trading, though EPS beat estimates and revenue was in line with expectations. Same-store sales still experienced sluggish growth, with predictions for growth in the coming year in the low single digits.
Operating margins increased this quarter, but they look to stay the same in the coming year. The fast-casual chain is looking to improve its digital catering and guest experience as well as rebuild consumer trust by reinvesting into the company. This means lower margins but could have a good long-term payoff.
Gilead Sciences shares fell more than 2 percent after hours. The biopharmaceutical company beat financial expectations, with EPS of $1.78 and revenue of $5.95 billion. Its Hepatitis C franchise was also in line with analyst predictions, but the franchise’s forecasts for the upcoming year fell short.
Akamai shares rose more than 8 percent after the bell. The internet bandwidth provider announced earnings that beat analyst estimates. CEO Dr. Tom Leighton was pleased with the results, saying “media traffic on Akamai’s platform grew faster than published growth rates for Internet traffic as a whole.” Much of the growth was driven by cloud security services.