Microsoft, Alphabet, Chipotle and more

Alphabet (GOOGLE): Shares of Google’s parent company fell in extended trading after The company missed Wall Street estimates for the top and bottom lines. Revenue for the quarter was $69.09 billion, up 6% from a year ago. Earnings are $1.06 per share. YouTube ad revenue fell from the previous quarter to $7.1 billion, below analyst expectations of $7.4 billion. Morningstar senior equities analyst Ali Mogharabi told Yahoo Finance the results were ‘disappointing’ and reflected a slowdown in ad spend.

Microsoft (MSFT): The tech giant reported its slowest quarterly revenue growth in five years as the weak PC market and strong dollar hit results. Softer cloud sales were also at the heart of investors’ trade in expanding with Azure’s revenue growth falling to 35% in the quarter. Revenue from the Smart Cloud business, which includes Azure, totaled $20.3 billion. RBC Capital Markets software equities analyst Rishi Jaluria told Yahoo Finance that the macroeconomic environment is deteriorating and that he expects that to ‘continue to weigh on Azure’s numbers going forward.’

Spotify (THE POINT): Shares fell more than 10% in after-hours trading after the company warned of margin pressure in the current quarter. In the third quarter, Spotify reported 456 million monthly active users, beating its previous guidance, while Premium subscribers increased 13% to 195 million.

Chipotle (CMG): A chain of restaurants earnings and revenue reports top Wall Street estimates, an indication that customers are willing to pay a higher price. Chipotle raised prices again in August, marking the third time the company has done so in the past 15 months. Morning star analyst Sean Dunlop speaking to Yahoo Finance that the results suggest that Chipotle is “certainly resistant to recession.” Up to now, Chipotle’s stock is down about 11%.

Mattel (MAT): The company downgraded its full-year profit guidance ahead of the key holiday sales quarter, sending shares lower during extended trading. For the third quarter, adjusted earnings were 82 cents per share while sales were flat from a year ago.

Texas Instruments (TXN): Shares fell after fourth-quarter revenue and profit guidance fell below street estimates. During the earnings call, executives warned that “most of our end markets will see a steady decline, with the exception of the auto market” and warned that inventories are below expectations. Revenue for the third quarter totaled $5.24 billion, up from $4.64 billion in the previous quarter.

Click here for the latest Yahoo Finance platform trending tickers

Click here for the latest stock market news and in-depth analysis, including stock-moving events

Read the latest financial and business news from Yahoo Finance

Download the Yahoo Finance app for Apple or Android

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedInand YouTube


Goz News: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, the World everyday world. Hot news, images, video clips that are updated quickly and reliably.

Related Articles

Back to top button