Check out the companies making headlines after the bell:
Alphabet — Shares of the Google-parent rose more than 7% in extended trading after the company beat on the top and bottom lines for its quarterly results. The technology giant earned $30.69 per share on revenue of $75.33 billion. Wall Street expected earnings of $27.34 on revenue of $72.17 billion, according to Refinitiv. Alphabet also announced a 20-for-1 stock split.
Starbucks — Shares of the worldwide coffee chain dipped more than 4% in after-hours trading after Starbucks reported quarterly earnings that came in below Wall Street’s forecast, dragged lower by higher costs. Starbucks earned 72 cents per share, while analysts were expecting 80 cents per share, according to Refinitiv. Revenue, however, topped estimates.
General Motors — The automaker reported mixed quarterly results, earning $1.35 per share on revenue of $33.58 billion. Wall Street expected earnings of $1.19 per share on revenue of $34.01 billion, according to Refinitiv. The company also said it expects to generate a 2022 operating profit of between $13 billion and $15 billion, in line with expectations.
Advanced Micro Devices — Shares of the chip maker rose 9% after hours on a top- and bottom-line quarterly beat. AMD earned 92 cents per share on revenue of $4.83 billion. Wall Street expected earnings of 76 cents per share on revenue of $4.53 billion, according to Refinitiv. AMD also issued strong first-quarter and full-year revenue guidance.
PayPal — Shares of the payments giant tanked 14% after hours following disappointing first-quarter and full-year guidance. PayPal sees first-quarter EPS of 87 cents, compared with Wall Street consensus of $1.16 per share, according to Refinitiv. PayPal reported earnings about in line and revenue above expectations for the fourth quarter.
Electronic Arts — Shares of the video game company fell roughly 2.5% after the bell following its quarterly earnings report. Electronic Arts reported GAAP earnings of 23 cents per share, which was not comparable to estimates. Its quarterly revenue of $2.58 billion fell below Wall Street projections.