A look at companies making waves in after-hours trading: Microsoft — Shares fell 6% after the company reported disappointing results for its cloud business, which overshadowed both its fourth-quarter earnings and guidance. Advanced Micro Devices — The chipmaker rose 5% after second-quarter results beat expectations. AMD reported adjusted earnings per share of 69 cents on revenue of $5.84 billion, while analysts surveyed by LSEG were expecting earnings of 68 cents per share and revenue of $5.72 billion. Arista Networks — The computer networking company beat Wall Street expectations for both its second-quarter earnings and guidance, sending shares up nearly 3%. Arista reported adjusted earnings per share of $2.10 on revenue of $1.69 billion, while analysts surveyed by LSEG were expecting earnings per share of $1.95 on revenue of $1.65 billion. Pinterest — Shares of the image-sharing service fell 15%. Pinterest issued disappointing guidance for third-quarter revenue, indicating a range of $885 million to $900 million, below analysts’ expectations. Second-quarter adjusted earnings were 29 cents per share on revenue of $854 million, which LSEG said beat market expectations. Starbucks — Starbucks reported profits and quarterly revenue in line with analysts’ expectations as demand weakened in both its U.S. and international cafes, but shares rose 2%. For the third quarter, Starbucks reported adjusted earnings of 93 cents per share, in line with analysts surveyed by LSEG’s expectations. Revenue for the period was $9.11 billion, below analysts’ expectations of $9.24 billion. Skyworks Solutions — Semiconductor shares fell 2%. Skyworks’ adjusted earnings for the third quarter were $1.21 per share, in line with analysts’ expectations, according to LSEG. Revenue for the period was $906 million, beating the consensus estimate of $900 million. Caesars Entertainment — Shares of the gaming and hospitality company rose 3% despite its second-quarter report revealing a year-over-year revenue decline. Caesars reported second-quarter revenue of $2.8 billion, down from $2.9 billion a year ago. Informatica — Business cloud shares fell 2% after second-quarter earnings disappointment. Informatica posted $401 million, below the $403 million analysts surveyed by LSEG had expected. Meanwhile, adjusted earnings per share beat market expectations by 1 cent to 23 cents. First Solar — Solar stocks rose 1% after First Solar’s second-quarter earnings beat expectations. The company earned $3.25 a share on revenue of $1.01 billion, while analysts surveyed by LSEG had expected only $2.69 a share on revenue of $942 million. Western Union — The international money transfer and payments company fell nearly 8% after mixed second-quarter results. Adjusted earnings per share of 44 cents were below the 45 cents a share expected by analysts surveyed by FactSet. Revenue of $1.07 billion beat the consensus estimate of $1.06 billion. Live Nation Entertainment — Ticketmaster’s parent company fell 3%. Live Nation posted second-quarter earnings per share of $1.03, below the consensus estimate of $1.07 per share from analysts surveyed by LSEG. Revenue of $6.02 billion was in line with expectations. Second-quarter revenue was $8.34 billion, compared with the $8.45 billion expected by analysts surveyed by LSEG. Mondelez also raised its dividend by 11%. — CNBC’s Darla Mercado, Jesse Pound, Pia Singh and Sarah Ming contributed to the report.
Biggest movers in after-hours trading: MSFT, ANET, AMD, SBUX
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