Stocks moving in after-hours: Amazon, Snap, Pinterest, Intel

These are the stocks moving after the market close on Thursday, April 27, 2023.


Amazon (AMZN) jumped 10% after posting better than expected first quarter results and guidance. Net sales came in at $127.36 versus analyst estimates of $124.7 billion. The e-commerce giant’s operating margin of 3.7% beat estimates of 2.38%.

The company expects second quarter net sales between $127 billion and $133 billion, versus consensus estimates of $130.1 billion.

The company’s highly profitable AWS cloud unit brought in sales of $21.4 billion, up 16% year-over-year.

Amazon also highlighted machine learning was a contributor to its advertising performance.

“Our Advertising business continues to deliver robust growth, largely due to our ongoing machine learning investments that help customers see relevant information when they engage with us, which in turn delivers unusually strong results for brands,” said CEO Andy Jassy in the company’s earnings release.

Amazon is one of the many tech related companies which has conducted layoffs amid high inflation and tighter monetary policy. Over the last few months the company has announced about 27,000 job cuts.

On Thursday Amazon said employment dropped 10%, a figure which also accounts for warehouse workers.


Snap (SNAP) shares plunged 20% in post market after the parent of Snapchat reported first quarter revenue of $988.6 million, coming in short of Wall Street consensus expectations of $1.01 billion.

The social media company reported daily active users of 383 million for the quarter, versus estimates of 383.2 million.

Snap posted an adjusted earnings gain of 1 cent per share, versus a loss of 5 cents expected by Wall Street.

“We are working to accelerate our revenue growth and we are using this opportunity to make significant improvements to our advertising platform to help drive increased return on investment for our advertising partners,” CEO Evan Spiegel said in Snap’s earnings release.

The company had warned about an advertising slowdown since last year. In June 2022 Snap unveiled a subscription tier called Snapchat+, a way to diversify away from advertising and boost the company’s top line.

Snaps results come a day after social media rival Meta (META) posted a better than expected quarterly report. Social media stocks rallied on the heels of Meta’s print.


Pinterest (PINS) shares tanked 9% in post market after the online discovery platform reported its first quarter results and announced an advertising partnership with e-commerce giant Amazon.

Average revenue per user came in at $1.32, a penny shy of the $1.33 expected by Wall Street analysts.

Pinterest also said it expects second quarter operating expenses to grow in the low teens on a percentage basis, quarter over quarter.

“Today, we’re taking meaningful steps towards expanding our ads business by opening up third-party ad demand on Pinterest, starting with Amazon as our first partner,” Bill Ready, CEO of Pinterest said in the company’s earnings release.

The company beat on the top and bottom lines for its latest quarter, and its monthly active users increased 7% year-over year to 463 million, above Wall Street estimates of 454.6 million.


Intel (INTC) shares dipped 1.7% immediately following the chipmaker’s latest quarterly results. The company’s first quarter revenue of $11.7 billion beat consensus estimates of $11.1 billion. Intel’s adjusted loss per share of 4 pennies came in narrower than Wall Street expectations of 15 cents.

Intel has seen a decline in both PC and datacenter sales, as consumers and businesses pull back on spending. PC revenue for the quarter fell 38%, while datacenter revenue dropped $39%.

Intel is undergoing a turnaround plan spearheaded by CEO Pat Gelsinger as the company aims to regain market share.

Year-to-date Intel shares are up 12%.

Ines is a senior business reporter for Yahoo Finance. Follow her on Twitter at @ines_ferre

Click here for the latest stock market news and in-depth analysis, including events that move stocks

Read the latest financial and business news from Yahoo Finance

Source link