Stocks moving in after hours: Snap, AMD, Match Group, EA
Shares of the parent company of Snapchat tumbled in after-hours trading on the heels of its fourth quarter results and forecast. The social media company expects first quarter revenue will drop between 2% and 10%.
Snap reported fourth quarter revenue of $1.30 billion versus estimates of $1.31 billion. Adjusted earnings per share came in at 14 cents, beating consensus estimates of 11 cents, but reflecting a drop from last year’s EPS of 11 cents.
The chipmaker’s stock was up in post market amid better-than-expected revenue and earnings for its latest quarter.
AMD reported adjusted earnings of 69 cents versus consensus estimates of 65 cents. Revenue of $5.6 billion grew 16% year-over and came in above street expectations.
“Although the demand environment is mixed, we are confident in our ability to gain market share in 2023 and deliver long-term growth based on our differentiated product portfolio,” said AMD Chair and CEO Dr. Lisa Su in the company’s earnings release.
Electronic Arts (EA)
The game publisher’s fiscal fourth quarter net bookings guidance of $1.68 billion – $1.78 billion came in short of expectations of $2.22 billion.
The new Star Wars Jedi: Survivor game has been delayed until April 28th. Initially it was set to come out March 17th.
Shares of Electronic Arts fell 10% following the company’s quarterly results and guidance.
Match Group (MTCH)
Shares of the Match Group fell as much as 8% after the dating app company posted its first quarterly decline on record, and its first quarter revenue guidance of $790 million and $800 came in below expectations of $787.3 million.
Match’s Tinder app will launch its first marketing campaign, a reversal from its usual word of mouth strategy.
Paying subscribers dropped by 1% to 16.1 million during its latest quarter.
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