Costco Wholesale Corporation (NASDAQ:COST) shares slid 1.9% in extended trading Tuesday despite the retailer's fiscal fourth-quarter results topping expectations.
The company posted earnings of $4.86 per share, up from $4.20 per share a year earlier and ahead of Street expectations of $4.79. Revenue was $7.9 billion, compared to $7.2 billion in the year-ago quarter and expectations of $7.8 billion.
Progress Software (NASDAQ:PRGS) shares slid 1.5% after hours Tuesday even the business software giant posted fiscal third-quarter results that surpassed expectations.
The company reported revenue of $175 million, up 16% year-over-year and above expectations of $173.3 million. Adjusted earnings were $1.08 per share, up 8% from the year-ago quarter and topping projections of $1 per share.
Meanwhile, Reddit has unveiled a plan to compensate its top posters.
Starting Tuesday in the US, the social media site said it will split revenue with users who are awarded “gold” from their fellow users. Gold has long been a part of the Reddit ecosystem, with users paying a fee to reward posts they enjoy with golden upvotes.
Elsewhere, Peloton Interactive Inc (NASDAQ:PTON) co-founder and chief product officer Tom Cortese is leaving the company after 12 years, the company announced Tuesday.
Cortese, who helped launch the at-home fitness company with former CEO John Foley, plans to shift to an advisory role on November 1.