Paycom Software, Livent, Advanced Micro Devices (AMD), MasTec, Match Group, and Yum China Holdings were among the companies making headlines in after-hours trading.
Paycom Software saw its shares drop by 26.5% after missing third-quarter revenue estimates. The company reported $406.3 million in revenue for the period, while analysts had expected $411.2 million. However, Paycom’s earnings per share exceeded forecasts, coming in at $1.77 (excluding items), compared to analysts’ expectation of $1.61 per share.
Livent, the maker of battery-grade lithium hydroxide, experienced a 4.4% drop in its shares after cutting its forward guidance and reporting a 10% decline in quarterly revenue. The company’s adjusted earnings per share for the third quarter stood at 44 cents on $211.4 million in revenue. This fell short of analysts’ estimates of 48 cents per share and $264.4 million in revenue.
Advanced Micro Devices, a chipmaker, declined by 4.5% after disappointing investors with its fourth-quarter revenue estimate of $6.1 billion. Although the company reported earnings of 70 cents per share, surpassing analysts’ forecast of 68 cents per share, its third-quarter revenue of $5.80 billion fell short of the expected $5.70 billion.
MasTec, an infrastructure company, saw its shares plunge by 20.9% as it missed third-quarter earnings estimates by a significant margin. The company posted adjusted earnings of 95 cents per share, falling far below analysts’ expectations of $1.84 per share. Additionally, MasTec’s quarterly revenue of $3.26 billion fell short of analysts’ projections of $3.79 billion. The company also reduced its full-year guidance and anticipates reduced activity until its annual budget cycles are replenished.
Match Group, the dating service provider that owns Tinder and Hinge, experienced a decline of approximately 5.6% due to disappointing revenue guidance for the fourth quarter. The company expects revenue to range between $855 million and $865 million, while analysts had predicted $895 million.
Yum China Holdings, a China-based restaurant operator, saw its shares plummet by 10.8% after missing revenue estimates for the third quarter. Yum reported $2.91 billion in revenue, falling short of analysts’ expectations of $3.06 billion.
These developments in after-hours trading reflect the challenges faced by these companies in meeting revenue expectations, which have affected their stock performance. Investors will be closely monitoring their future strategies and performance as they navigate through these challenges.
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