Stocks making the biggest moves after hours: Roku, Cisco Systems, Twilio and more
Check out the companies making headlines after hours.
Roku — Shares spiked roughly 12% after Roku beat on the top and bottom lines in its latest quarter. The streaming device company reported a loss of $1.70 per share, better than the forecasted $1.73 per share from analysts polled by Refinitiv. Roku posted $867 million in revenue, greater than the consensus estimate of $802 million.
Cisco Systems — Shares advanced 4% in extended trading after Cisco Systems surpassed expectations in its latest earnings results. The digital communications company reported earnings of 88 cents per share, slightly higher than consensus estimate from Refinitiv that showed 86 cents earnings per share. Cisco reported revenue of $13.59 billion, better than expectations of $13.43 billion.
Twilio — The stock jumped 12% in extended trading after Twilio reported a revenue beat. The communications tools maker reported revenue of $1.02 billion. Analysts polled by Refinitiv were forecasting $1 billion in revenue.
Shopify — Shopify shares fell more than 6% after the e-commerce company issued lighter-than-expected guidance for the current quarter. Otherwise, Shopify beat expectations on the top and bottom lines.
Zillow Group — Shares added more than 2% after Zillow Group beat profit and sales expectations. Zillow reported adjusted earnings of 21 cents per share on revenue of $435 million. Analysts surveyed by Refinitiv were expecting earnings of 7 cents per share on revenue of $415 million.
Boston Beer — Shares dropped more than 10% after the brewing company behind Samuel Adams reported results from its latest quarter. Boston Beer CEO Dave Burwick said revenue growth was "strong," but margins fell below the company's expectations. Burwick added that Twisted Tea is experiencing double-digit growth, while hard seltzer is in decline. "We have new initiatives in place to improve Truly share trends and adapt our cost structure to the current volume environment, which we believe will lead to long-term success," he said in a statement.
Synopsys — Shares declined more than 4% after Synopsys reported weaker-than-expected guidance for its fiscal second quarter. The silicon design company beat earnings expectations in the first quarter, but revenue came in line with expectations.