After-hours buzz: SNAP, AAPL, GILD & more

Finance news

Check out the companies making headlines after the bell:

Apple stock jumped more than 3 percent in the extended session on better than expected earnings. The tech company beat analyst estimates on earnings per share and revenues. Guidance for the upcoming quarter was strong and the company also approved a $100 billion share repurchase authorization and a 16 percent dividend increase.

iPhone unit sales increased from a year ago but still did not meet Wall Street’s expectations. Sales guidance was still on the high end, though.

Shares of Snap plummeted more than 14 percent post-market on poor earnings. The social media and technology company’s losses per share fell in line with expectations but it missed estimates on revenue. Guidance for the second quarter is expected to “decelerate substantially.”

The company released a controversial app redesign in February and is still being impacted by the backlash. Average revenue per user fell significantly while the cost of revenue per user increased. Its daily active users also missed forecasts. CEO Evan Spiegel says he wants to focus on optimizing the redesign in the upcoming quarter.

Gilead Sciences stock plunged nearly 6 percent in the extended session on poor earnings. The biopharmaceutical company reported earnings and revenues that fell below analyst estimates. Gilead reiterated its full-year guidance. Its Hepatitis C franchise sales fell in line with estimates and its sales on newly acquired drugs were better than expected.

Mondelez International shares rose more than 1 percent after the bell. The food and beverage company reported strong earnings and revenue as well as higher than expected organic growth this quarter.

Shares of Shutterfly rallied as much as 10 percent in extended trading. The image publishing service’s loss per share was smaller than expected and its revenues exceeded expectations.

Yum China stock plunged nearly 7 percent after hours despite beating estimates on earnings. The fast-food restaurant company’s KFC sales increased more than expected, but its Pizza Hut sales lagged far behind estimates.

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