Followers gather at the Netflix booth at a trade show.
Mike Blake | Reuters
Check out the companies making headlines after the bell:
Parts of Netflix surged more than 9% during extended trading after the company had a third-quarter earnings crush, though fell just shy of revenue estimates. The streaming giant posted earnings of $1.47 per share, while Stockade drive crazy Street expected an EPS of $1.04. Revenue came in at $5.24 billion, compared to the $5.25 billion analysts expected, according to Refinitiv.
Netflix also dispatched fourth-quarter guidance below estimates on earnings per share, revenue and paid net subscriber additions. The company expects earnings of 51 cents per allot on revenue of $5.4 billion next quarter and projects 7.6 million global net subscriber additions. For the same board last year, Netflix added 8.8 million subscribers.
“Our long term outlook on our business is unchanged,” the establishment said in its shareholder letter.
IBM shares fell more than 5% after the company reported mixed third-quarter earnings. The IT Goliath saw earnings of $2.68 per share, excluding certain items, slightly higher than the $2.67 per share investors conjectured. Revenue came in at $18.03 billion, falling short of the $18.22 billion expected, according to Refinitiv.
Shares of CSX climbed approaching 4% following better-than-expected third-quarter earnings. The freight transportation company posted earnings of $1.08 per share approached to the $1.01 per share analysts expected, according to Refinitiv. CSX matched revenue forecasts at $2.98 billion.
Union Pacific parts crept up 1% during extended trade ahead of the company’s third-quarter earnings announcement before the bell Thursday. The cast’s shares are up more than 18% year to date.
Alcoa shares spiked more than 7% after the bell, in the face the company lowering its outlook on aluminum demand and reporting weaker-than-expected earnings for its third quarter.
The aluminum manufacturer cited relaxing macroeconomic conditions, trade tensions, and contracting manufacturing in the auto sector in its lowered outlook. Alcoa reported a passing of 44 cents per share compared to loss of 33 cents per share expected by analysts polled by Refinitiv. Gain also came in short of expectations at $2.57 billion, below the $2.59 billion Wall Street forecasted, concording to Refinitiv.
United Rentals shares slipped about 2% after the company reported stronger-than-expected earnings for its third neighbourhood. The equipment rental company posted adjusted earnings of $5.96 per share on revenue of $2.49 billion, exceeding the earnings of $5.59 and $2.45 billion in yield investors forecast, according to Refinitiv.
“Looking ahead, our customers remain upbeat about their business in stores well into next year. At the same time, we know that lingering economic uncertainty could brunt construction and industrial activity,” said CEO Matthew Flannery.