Stocks making the biggest moves after hours: Qualcomm, Fitbit, Square & more

Stock Market

Denis Doyle | Bloomberg | Getty Images

Check out the companies making headlines after the bell:

Shares of Qualcomm dropped as much as 5% in extended trading Wednesday despite the semiconductor company’s better-than-expected second-quarter earnings. Qualcomm reported earnings per share of 77 cents on revenue of $4.98 billion. Wall Street expected earnings per share of 71 cents on revenue of $4.80 billion, according to Refinitiv consensus estimates. The stock pared its losses after the initial post-earnings dip to trade roughly 3% down. 

Qualcomm said it expects to see between $4.5 billion and $4.7 billion in revenue from its settlement with Apple.

Fitbit shares popped as much as 4% — then settled to trade 2% up — after market close Wednesday after reporting first-quarter earnings that beat estimates on the top and bottom line. Fitbit posted revenue of $272 million, topping estimates of $260 million, according to analysts surveyed by Refinitiv. The company lost 15 cents per share, compared with the loss of 22 cents forecast by analysts.

Square shares tanked 7% after hours Wednesday despite the mobile payment company’s better-than-expected first-quarter earnings. Square earned $489 million in revenue, beating the expected $478 million. Earnings per share came in at 11 cents, higher than the 8 cents estimated by analyst. Square’s gross payments volume came in below expectations at $22.6 billion. Analysts had expected $22.8 billion.

Square’s second-quarter guidance came in below expectations. The company expects to earn between 14 cents and 16 cents per share, compared with the 19 cents analysts had projected. Square is up more than 30% since the beginning of the year.

Shares of Eventbrite tanked more than 29% after hours Wednesday following the release of the ticketing website’s first-quarter earnings and weak second-quarter guidance. Eventbrite reported a loss of 13 cents per share on revenue of $81.3 million. Analysts forecast a loss of 9 cents on revenue of $83.0 million, according to Refinitiv consensus estimates.

Eventbrite expects between $74 million and $78 million in revenue for the second-quarter, lower than the $82.4 million analysts had expected. 

Eventbrite’s stock was trading below $18 per share, its lowest level since its initial public offering in September of 2018.

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