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Here are the companies making headlines in after-hours trading:
Alphabet — The tech giant slipped 1% despite reporting declines in both revenue and profit for the second quarter. Alphabet earned $1.89 a share on $84.74 billion in revenue. Consensus estimates called for earnings of $1.84 a share on $84.19 billion in revenue. However, its YouTube advertising revenue missed forecasts.
Tesla — Shares of the electric vehicle maker fell 4.7% after second-quarter earnings missed consensus estimates. Tesla reported adjusted earnings per share of 52 cents, while analysts polled by LSEG had expected 62 cents per share. On the bright side, the company reported $25.5 billion in quarterly revenue, slightly above Wall Street’s estimate of $24.77 billion.
Visa — Shares fell more than 2% after the company reported a revenue miss in its fiscal third quarter. Visa reported $8.9 billion in revenue, slightly below the $8.92 billion analysts polled by LSEG had expected. Meanwhile, payments volume rose 7% in the quarter.
Seagate Technology — Shares rose more than 6% after Seagate reported higher earnings and revenue in its fiscal fourth quarter. Seagate earned $1.05 a share, excluding items, on $1.89 billion in revenue. Analysts polled by LSEG had estimated it would earn 75 cents a share on $1.87 billion in revenue. The company cited an improving cloud environment for its stronger performance.
Capital One Financial — Shares of the credit card issuer fell about 1% after its second-quarter profit fell from a year earlier as the bank set aside more cash to offset potential credit losses. Revenue rose 5% to $9.51 billion from the same period a year earlier, but fell short of what analysts polled by LSEG had expected.
Texas Instruments — The chipmaker rose 5% after reporting better-than-expected earnings. Texas Instruments reported earnings of $1.22 per share versus the consensus estimate of $1.17 per share, per LSEG. The company’s revenue of $3.82 billion was in line with forecasts.
Mattel — The toymaker rose more than 1% after reporting second-quarter results. Its adjusted earnings per share of 19 cents beat analysts’ estimates of 17 cents per share, according to LSEG data. Revenue of $1.08 billion narrowly missed forecasts of $1.1 billion. Mattel reiterated its full-year guidance and highlighted gross margin expansion.
Cal-Maine Food — Shares of the nation’s largest egg producer fell 1% as the bird flu outbreak continues to put pressure on its performance. In its fiscal fourth quarter, earnings of $2.32 per share were higher than a year ago but lower than the $2.41 per share analysts had expected, according to FactSet. Sales of $640.8 million also fell short of estimates of $652.3 million.
Enphase Energy — The solar stock added 5% despite weaker-than-expected second-quarter results. Enphase posted earnings of 43 cents a share, after adjustments, which was 5 cents below consensus estimates, according to LSEG. Revenue of $304 million also fell short of the $310 million analysts had expected. However, shares rose on better-than-expected margins and its third-quarter guidance of $370 million to $410 million in revenue, which was above the $404 million analysts had estimated.
The Hartford — The insurance company gained nearly 1%. Adjusted earnings per share were $5.38 in the second quarter, beating the consensus estimate of $5.14 per share, according to FactSet.
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