The logo of Alphabet Inc’s Google outside the company’s office in Beijing, China, August 8, 2018.
Thomas Peter | Reuters
Check out the companies making headlines after hours.
Alphabet — The search engine parent dropped 5.8% after Alphabet missed third-quarter earnings expectations, and reported a decline in YouTube ad revenue. Alphabet earned $1.06 per share on revenue of $69.09 billion. Analysts surveyed by Refinitiv were forecasting $1.25 earnings per share on revenue of $70.58 billion.
Microsoft — Shares slipped 2.7% after Microsoft reported weaker-than-expected cloud revenue in its latest quarterly results, despite otherwise beating earnings and revenue forecasts.
Texas Instruments — Shares declined 5.7% after TI’s Q4 revenue and earnings forecasts missed the average analyst’s consensus estimate, according to FactSet. Texas Instruments posted Q3 revenue of $5.24 billion, greater than the $5.14 billion forecast, according to consensus estimates from Refinitiv.
Chipotle Mexican Grill — Shares jumped 4.2% after Chipotle topped earnings expectations in its most recent quarter, while also posting a slight miss on revenue forecasts. The burrito chain raised menu prices in August.
Enphase Energy — Shares rose 4.7% after posting a beat on the top and bottom lines in its earnings report for the third quarter, according to consensus estimates on FactSet.
Spotify — The streaming stock dropped 6.9% after Spotify’s results failed to meet earnings expectations, reporting a loss of 98 cents per share. Analysts were expecting a loss of 84 cents per share, according to consensus estimates on FactSet.