People walk past Snap Inc. Snapchat signage displayed in downtown Los Angeles, California on October 2, 2021.
Patrick T. Fallon | AFP | Getty Images
Check out the companies making headlines after the bell:
Snap — Snap shares sunk roughly 23% in extended trading after the company missed revenue expectations in the third quarter. The social media platform posted revenue of $1.07 billion versus $1.1 billion expected, according to Refinitiv. Snap saw its advertising business decline after Apple introduced privacy changes earlier this year. The company also issued lower-than-expected fourth-quarter revenue guidance. Other social media and digital advertising stocks also fell after hours following Snap’s report, including Facebook, Twitter and The Trade Desk.
Intel — Shares of Intel retreated 8.8% in after hour trading following the semiconductor company’s quarterly financial results report. Intel posted revenue of $18.1 billion, compared with the Refinitiv consensus estimate of $18.2 billion. The company blamed the weaker-than-expected sales on an industry-wide component shortage. Intel also issued lower-than-expected fourth-quarter earnings-per-share guidance.
Chipotle Mexican Grill — Chipotle shares added 1% after hours following an earnings beat. The fast-casual chain crushed analyst expectations, posting adjusted earnings of $7.02 per share versus $6.32 per share expected, according to Refinitiv. Price hikes helped the company offset higher beef and freight costs.
Mattel — Shares of Mattel gained 5.5% in extended trading after the toy maker’s quarter earnings report crushed Wall Street expectations. Mattel posted earnings of 84 cents per share on revenue of $1.76 billion, while analysts surveyed by Refinitiv expected earnings of 72 cents per share on revenue of $1.69 billion.
Whirlpool — Whirlpool shares fell 4.3% after hours following a weaker-than-expected quarterly report. The home appliance company posted revenue of $5.49 billion versus $5.74 billion expected, according to Refinitiv. Whirlpool also issued lower-than-expected full-year earnings-per-share and revenue guidance.
Boston Beer — Shares of Boston Beer fell 3.3% in extended trading despite the brewery’s better-than-expected third-quarter sales report. Boston Beer posted revenue of $561.6 million, topping the consensus analyst estimate of $531.5 billion, according to StreetAccount.