Apple
(ticker: AAPL) reported fiscal third-quarter earnings that topped analysts’ expectations while revenue of $81.8 billion matched consensus but fell from nearly $83 billion a year earlier. Apple’s iPhone business recorded revenue of $39.7 billion, down from $40.7 billion a year earlier and below analysts’ forecasts. Chief Financial Officer Luca Maestri said he expects revenue in the current fiscal fourth quarter ending in September to be similar to the 1% decline in the three months ended in June, which would be slightly worse than Wall Street expectations. Apple shares fell 2.5% in premarket trading.
Second-quarter earnings and sales from
Amazon.com
(AMZN) were better than expected and guidance for the third quarter topped Wall Street estimates. In the second quarter, Amazon posted revenue of $134.4 billion, up from $121.2 billion in the year-earlier quarter. Earnings were 65 cents a share, a rebound from a year-earlier loss of 20 cents. The company’s Amazon Web Services business had better-than-expected growth in the second quarter. AWS sales were $22.1 billion, up 12% from a year earlier, and above Wall Street estimates. The stock jumped 8.9% in premarket trading.
DigitalOcean Holdings
(DOCN) shed 21% after the cloud company reduced its full-year guidance, while also announcing a restatement of certain previously reported results to correct some accounting errors.
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Atlassian
(TEAM) soared 20% after the provider of software development and project management tools issued a forecast for fiscal first-quarter sales that was above analysts’ expectations.
Atlassian
anticipates first-quarter sales of $950 million to $970 million, higher than forecasts of $954 million.
Fortinet
(FTNT) reported adjusted earnings that topped forecasts but the stock slumped 17% after billings of $1.54 billion missed expectations and the cybersecurity company said it saw an “unusually large volume of deals” pushed out beyond the second quarter. Fellow cybersecurity company
Palo Alto Networks
(PANW) tumbled 6%.
Booking Holdings
(BKNG) reported earnings that beat analysts’ estimates and forecast a record summer travel season. Adjusted earnings were $37.62 a share, higher than Wall Street estimates of $28.98. Sales of $5.46 billion topped estimates of $5.17 billion. Shares of Booking, which owns travel services sites like Booking.com, Priceline, Agoda, Kayak, Rentalcars.com, and OpenTable stock, was rising 12% in premarket trading.
DraftKings
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(DKNG) rallied 12% after the online sports-betting app reported a surprise adjusted profit in the second quarter and boosted its full-year sales forecast.
Opendoor Technologies
(OPEN) declined 11% and
Redfin
(RDFN) was down 11% after the real estate companies issued revenue guidance well below Wall Street expectations.
Cloudflare
(NET) gained 8.8% to $70.76 in premarket trading after the internet infrastructure company posted better-than-expected second-quarter adjusted earnings and guidance that was slightly above forecasts. Analysts at TD Cowen and Mizuho raised their price targets on the stock.
Yelp
(YELP) rose 7.8% after the local recommendation site posted better-than-expected second-quarter results and boosted its outlook for the full year on strong local advertising demand from home service providers.
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Block
(SQ) was falling 5.3%. The payments company raised its guidance for the year but the stock declined after indicating that gross profit growth slowed to 21% in July.
Write to Joe Woelfel at joseph.woelfel@barrons.com