Facebook, Inc. (FB) shares jumped $9.63 to $118.52 in after-hours trading Wednesday, exceeding its all-time high of $117.59, after the company reported its first-quarter 2016 earnings results.
The social media giant posted earnings of $0.77 per share on revenues of $5.38 billion, up 51.8% from a year ago. Analysts were expecting EPS of $0.62 on revenues of $5.26 billion.
In separate news, Facebook announced in an SEC filing a new class of non-voting capital stock, known as the Class “C” stock. The new share structure — a three-for-one stock split which if approved by FB’s board would allow shareholders to get two C shares for each class A or class B share they own — is designed to keep Facebook CEO and founder Mark Zuckerberg in control of the tech giant.
“The ability to issue non-voting shares of Class C capital stock will provide our board of directors with a significant new tool to mitigate voting dilution without requiring us to use cash,” the company wrote.
FB also reported Wednesday that monthly active users at the end of 1Q16 came in at 1.65 billion. Wall Street had forecast 1.63 billion.
First Solar, Inc. (FSLR) dropped $4.03 to $58.00 in after-hours trading after it reported fiscal results for the first quarter.
In its quarterly report, the largest U.S. solar company said it earned $1.60 per share, well above the $0.97 per share analysts were expecting. Revenue rose 80.7% to $848 million, above views for $940.04 million.
For FY16, FSLR provided EPS guidance of $4.10-44.50 versus consensus of $4.24 per share. The Tempe, Arizona-based company also issued revenue projection of $3.8-$4.0 billion, compared to the consensus revenue estimate of $3.95 billion.
Shares of PayPal Holdings, Inc. (PYPL) gained 2.47% to $41.00 in extended trading on Wednesday after the technology platform firm reported first-quarter earnings of $2.54 billion, or $0.37 per share. Analysts had been modeling $2.50 billion and $0.35 per share.
Looking ahead, PayPal said it expects 2Q16 revenues between $2.57-$2.62 billion, as compared to analysts’ expectations of $2.57 billion. The management also gave its bottom line range of $0.34-$0.36 per share, against projections of $0.35 per share.
OSI Systems, Inc. (OSIS) reported third quarter EPS of $0.64 after the closing bell Wednesday, compared to the consensus estimate of $0.63. Revenues decreased 2.1% from last year to $210.8 million. Analysts expected revenues of $210.64 million.
For the current quarter ending in June, OSI Systems expects its EPS to range from $0.45 to $0.70.
OSIS shares are currently down $5.58 to $54.00 on 278K shares.