Advanced Micro Devices, Inc. (NASDAQ:AMD) reported a third-quarter earnings beat but issued weaker-than-expected fourth-quarter sales guidance.
AMD said it expects 4Q sales of about $6.1 billion, plus or minus $300 million, compared to the Street expectation of $6.4 billion.
Its 3Q earnings, however, topped Street estimates. Earnings per share (EPS) of $0.70 came in ahead of expectations of $0.68. Revenue of $5.8 billion also topped estimates of $5.71 billion. Read more
Match Group (NASDAQ:MTCH) after Tuesday’s close reported third-quarter 2023 adjusted EPS of $0.57 on revenue that rose 9% year over year to $882 million, driven by 11% sales growth for its Tinder segment.
The analyst consensus forecast was for adjusted EPS of $0.53 and $880.71 million in revenue. Shares of Match fell as much as 7%. Read more
Chesapeake Energy Corporation (NYSE:CHK) reported a significant year-over-year drop in profit as its bottom line was negatively impacted by lower commodity prices.
Its third-quarter profit fell from $883 million, or $6.12 per share, in the year-ago quarter to $70 million, or $0.49 per share. Read more
Caesars Entertainment saw its earnings per share and revenue surpass estimates during 3Q off the back of pent-up demand.
There was a collective sigh of relief from investors concerned about the potential impact of Russian hacking group known as Scattered Spider, which targeted Caesars and MGM Resorts in September 2023. Read more
In other news, shares of flexible workspace provider WeWork Inc (NYSE:WE) plunged 47.4% to US$1.20 in afterhours trading following a Wall Street Journal report which revealed that the company plans to file for bankruptcy as early as next week.
The New York-based company is reportedly considering filing a Chapter 11 petition in New Jersey. Read more
Contact the author at emily.jarvie@proactiveinvestors.com
Follow her on X, formerly known as Twitter, @emilyjjarvie