After hours trade as expected was dominated by the eagerly awaited results from Google parent company Alphabet (NASDAQ:GOOGL), which showed a fall in profit for the second quarter.
Shares tumbled over 3% in extended hours in New York, despite the group unveiling an impressive 21% jump in revenue.
Alphabet shares spike, then slide as earnings beat estimates https://t.co/Yennf7LYG3 pic.twitter.com/y4rix6pK4G
— Bloomberg (@business) July 24, 2017
Alphabet, which also owns video streaming service YouTube, said it made $3.5bn in net income on sales of $26bn, which beat consensus estimates on both scores.
But the profit would have been higher but for the record $2.7bn EU competition fine.
Big oil was also back in focus as the US crude price firmed and Anardarko Petroleum (NYSE:APC) shares plunged over 4% in after hours trade after its second quarter numbers failed to impress the market.
Elsewhere, Sanmina Corp (NASDAQ:SANM) saw shares plunge 9.89% after hours after the electronic gadget manufacturer missed analysts' estimates on its second quarter results.
Revenue for the three months to end June rose to $1.71bn, and EPS (earnings per share) came in at 74 cents, excluding some costs, but scribes had penciled ion $1.74bn in revenue and 74 cents a share in net income.