Microsoft Corporation (NASDAQ:MSFT) shares rose 3.5% in extended trading after the company announced fiscal first-quarter 2024 revenue that rose 13% year over year to $56.5 billion, surpassing the Zacks consensus estimate of $54.4 billion.
The company also saw its earnings per share (EPS) for the quarter improve 27% to $2.99, which exceeded the analyst consensus forecast of $2.65. Notably, Microsoft’s Azure and other cloud services revenue grew by a better-than-expected 29%.
Alphabet Inc (NASDAQ:GOOG) stock fell more than 6% after the Google parent reported a more than double-digit percentage year-over-year jump in revenue for the third quarter but investors were left disappointed by the performance of its Cloud platform.
For the quarter ended September 30, Alphabet’s revenue was $76.7 billion, up 11% from the year-ago quarter’s $69.1 billion.
Visa Inc (NYSE:V) shares fell 1.3% even after the credit giant posted third-quarter results that exceeded analyst expectations.
The company reported adjusted earnings of $2.33 per share, up 21% year-over-year and above analyst expectations of $2.13 per share. Revenue climbed 11% year-over-year to $8.6 billion, topping expectations of $8.12 billion.
Snap Inc (NYSE:SNAP) shares slid 0.5% in extended trading after initially popping close to 20% following the company’s quarterly results.
The social media company posted adjusted earnings of $0.02 per share, on revenue of $1.19 billion, compared to Street expectations of a $0.04 per share loss on revenue of $1.11 billion.
Texas Instruments Inc (NYSE:TXN) shares lost 4.7% after the company posted an underwhelming 3Q performance as demand waned across its core markets, particularly in the industrial sector.
That led to the analog chipmaker forecasting 4Q revenue and profit below Wall Street estimates.
CoStar Group Inc shares tumbled more than 9% in extended trading after the company’s third-quarter revenue fell short of expectations.
The commercial real estate information company posted revenue of $625 million, up 12% year-over-year but short of Street expectations of $625.7 million.