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Check out the companies making headlines after the bell.
Snap — The social media platform’s shares skyrocketed 18% in extended trading after the company reported strong first-quarter revenue. Snap said it had revenue of $462 million in the first quarter, while analysts polled by Refinitiv anticipated $430 million. “Snapchat has always been focused on helping people build and maintain their friendships, which is especially critical as people practice physical distancing and shelter in their homes,” said Snap CEO Evan Spiegel in his prepared remarks. However, Snap did report a loss of 8 cents per share in the first quarter. Analysts expected a loss of 7 cents per share, according to Refinitiv.
Netflix — The streaming service’s stock whipsawed in extended trading after the company reported a big jump in subscriber growth in the first quarter. Netflix said it had 15.8 million global paid net subscriber additions, which was much higher than analysts’ estimates of 7.9 million, according to FactSet. Netflix also reported first-quarter earnings of $1.57 per share on revenue of $5.77 billion, while analysts polled by Refinitiv expected earnings of $1.65 per share on revenue of $5.76 billion.
Chipotle Mexican Grill — Shares of the restaurant chain were up 4% in extended trading after the company reported first-quarter financial results. Chipotle reported earnings of $3.08 per share excluding some items, while analysts polled by Refinitiv expected $2.90 per share. The company said in its earnings release that digital sales more than doubled in March, allowing the company to post positive same-store sales growth as Covid-19 forced restaurants to temporarily suspend dine-in service. However, Chipotle still missed analysts’ estimates on revenue, reporting $1.41 billion in the first quarter, while Wall Street expected $1.42 billion, according to Refinitiv.
Texas Instruments — The semiconductor company’s stock jumped 2% in extended trading after Texas Instruments beat analysts’ estimates on revenue in the first quarter. The company reported revenue of $3.33 billion, while analysts anticipated $3.17 billion, according to Refinitiv.
Interactive Brokers Group — Shares of the electronic broker company tumbled 6% in extended trading after the company reported first-quarter financials. Interactive Brokers said it had revenue of $532 million, while analysts expected $563 million, according to Refinitiv. However, the company reported that customer accounts increased 22% and commission revenue rose 55% from the same time last year, according to its earnings release.
United Airlines — The airline’s stock dipped 2% in extended trading after the company announced a fresh stock offering. United said it plans to sell 39.25 million shares, which would be worth a little more than $1 billion at Tuesday’s closing price of $27.88. The stock offering represents an additional measure the company is taking to offset the negative impact of the coronavirus, which has wreaked havoc on the travel industry.
Navient — The asset management company’s stock dropped 3% in extended trading after the company reported first-quarter financial results. Navient posted net interest income of $132 million in the first quarter, which was lower than the $146 million from the same period a year ago, according to Factset. The company reported adjusted core earnings of 51 cents per share, which is down from earnings of 58 cents per share from the same period a year ago.