Google’s New York City office in lower Manhattan.
Spencer Platt | Getty Images
Check out the companies making headlines after the bell:
Shares of Alphabet tanked more than 6% in extended trading Monday following the release of the tech giant’s mixed first-quarter results. Alphabet reported earnings per share of $11.90 on revenue of $36.34 billion. Wall Street expected earnings per share of $10.61 on revenue of $37.33 billion, according to analysts surveyed by Refinitiv.
Google said its paid clicks are up 39% year-over-year while cost per click is down 19% from the year-ago quarter. Traffic acquisition costs came in at $6.86 billion, better than the estimated $7.26 billion per FactSet.
MGM Resorts shares dipped 2% after the bell Monday after posting first-quarter EPS numbers that missed expectations. Earnings per share were 5 cents, compared to the 21 cents forecast by analysts. The hospitality company earned $3.18 billion in revenue, topping estimates of $3.13 billion surveyed by Refinitiv.
Shares of AK Steel surged 7% in after hours trading Monday, before paring gains to trade roughly 3% up. The company reported first-quarter results of 23 cents earnings per share, beating expectations by 10 cents. Revenue came in at $1.70 billion, lower than the $1.74 billion estimated on the Street.
AK Steel took a $77.4 million charge for the closure of its Ashland Works facility.
Yum China shares rose more than 3% in extended trading Monday following the release of the restaurant company’s better-than-expected first-quarter earnings. The parent company of Pizza Hut and Kentucky Fried Chicken posted earnings per share of 59 cents on revenue of $2.30 billion. Analysts estimated earnings per share of 54 cents on revenue of $2.26 billion, according to Refinitiv consensus estimates.
Yum China’s same-store sales increased 4%, compared to the expected increase of 1.8%. KFC same-store sales rose 5%, topping analysts’ estimates of 2.3% growth. Pizza Hut same-store sales increased 1%, compared to the expected 0.2%.
Western Digital shares fell more than 4% after hours Monday after posting third-quarter earnings that missed estimates on the top and bottom lines. The computer company earned $3.67 billion in revenue, missing estimates of $3.68 billion. Earnings per share were 17 cents, lower than the expected 46 cents.