Twitter, Inc. (TWTR) shares plunged as much as 11 percent in after-hours trading Tuesday after the company reported its first-quarter 2016 earnings results.
The social media company posted earnings of $0.15 per share on revenues of $595 million, up 36.5% from a year ago. Analysts were expecting EPS of $0.10 on revenues of $607.55 million.
“Revenue came in at the low end of our guidance range because brand marketers did not increase spend as quickly as expected in the first quarter,” the company noted.
Once again, user growth in the latest quarter was sluggish. Twitter recorded a slight uptick in monthly active users by about 5 million people to 310 million, up 3% year-over-year. Analysts had expected 308 million.
For the second quarter, Twitter guided revenues of $590-$610 million, as compared to analysts’ expectations of $677.39 million.
Apple Inc. (AAPL) reported second-quarter EPS of $1.90 after the closing bell Tuesday, compared to the consensus estimate of $2.00. Revenues decreased 12.8% from last year to $50.56 billion. Analysts expected revenues of $51.98 billion.
The disappointing quarter is being attributed to weak iPhone sales. Apple sold 51.19 million units in the quarter, versus consensus for 50 million. That represents a 16% decline from the prior-year period in units, and the first YoY decline in iPhone sales since they were first introduced in FY 2007. Sales in Apple’s “Other” category of revenue, which includes Apple Watch and AppleTV, plunged by 50% QoQ, and by 30% YoY, to $2.189 billion.
For the current quarter, Cupertino issued revenue projection of $41-$43 billion, compared to the consensus revenue estimate of $47.35 billion.
AAPL is currently down $8.26, or 7.92%, to $95.99 on 42 million shares.
Shares of eBay Inc. (EBAY) gained $0.01 to $24.50 after the company reported first-quarter earnings of $2.14 billion, or $0.47 per share. Analysts had been modeling $2.08 billion and $0.45 per share.
For the current quarter ending in July, eBay said it expects its revenue to range between $2.14-$2.19 billion, as compared to analysts’ expectations of $2.14 billion. The management also gave its bottom line range of $0.40-0.42 per share, against projections of $0.44 per share.
Akamai Technologies, Inc. (AKAM) dropped $0.18 to $52.48 in after-hours trading after it reported fiscal results for the first quarter.
In its quarterly report, the cloud services provider said it earned $0.66 per share, well above the $0.63 per share analysts were expecting. Revenue rose 7.8% YoY to $567.73 million, above views for $564.26 million.
For Q216, Akamai provided EPS guidance of $0.62-$0.65 versus consensus of $0.65 per share. The company also issued revenue projection of $566-$582 million, compared to the consensus revenue estimate of $577.78 million.
AKAM stock currently prints a one year loss of about 32% and a year-to-date return of less than one percent.
The chart below shows where the equity has traded over the last 52 weeks.
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