Check out the companies making headlines in extended trading. Microsoft – Shares rose more than 3% after the maker of Windows software and Xbox video games reported fiscal first-quarter results that beat analysts’ estimates. Microsoft posted earnings per share of $2.99 on revenue of $56.52 billion. Meanwhile, analysts had forecast earnings per share of $2.65 on revenue of $54.50 billion, according to LSEG, formerly known as Refinitiv. Microsoft’s profit rose due to slower operating expense growth and better-than-expected revenue from its Azure cloud segment. Alphabet – The Google and YouTube parent company fell 5% despite beating analysts’ estimates for both revenue and profit in the third quarter. Sales growth accelerated again compared to the previous quarter to 11%, the first time in four quarters that sales reached double digits. However, according to StreetAccount, Google Cloud revenue came in at $8.41 billion, well below consensus estimates of $8.64 billion. Visa – The global payments company rose 1.7% after posting a rise in profit and revenue in its fiscal fourth quarter. Visa increased its dividend by about 16% and approved a $25 billion share buyback. Snap – Snapchat’s parent company rose slightly following third-quarter results. Snap reported profit of 2 cents per share on revenue of $1.19 billion. Analysts polled by LSEG had estimated a loss of 4 cents per share on revenue of $1.11 billion. CEO Evan Spiegel highlighted the return to revenue growth during the quarter. Shares initially rose as much as 20% in after-hours trading before gains were reversed as investors digested news that some advertisers had stopped spending after the start of the Israel-Hamas war. Texas Instruments – Shares of the semiconductor designer and manufacturer fell 4.4% after a mixed earnings report. According to LSEG, the company reported profit of $1.85 per share, beating analysts’ estimates of $1.82. Meanwhile, revenue came in slightly below estimates at $4.53 billion, while analysts had a consensus of $4.58 billion. CoStar Group – Shares fell nearly 9% after the commercial real estate company’s fourth-quarter profit and revenue forecast came in below analysts’ estimates. CoStar missed consensus estimates of $625 million in third-quarter revenue, according to FactSet, while adjusted earnings per share were in line with estimates at 30 cents. Stride – The technology-based education company rose nearly 12% after reporting stronger-than-expected results in its fiscal first quarter. According to FactSet, Stride reported earnings per share of 11 cents, while analysts had estimated a loss of 37 cents per share. Revenue also beat estimates, coming in at $480.2 million, compared to analysts’ estimates of $425.2 million. The high registration numbers in the “general education” and “vocational training” segments led to sales growth.
