Fans gather at the Netflix booth at a trade show.
Mike Blake | Reuters
Check out the companies making headlines after the bell:
Netflix fell more than 12% in after-hours trading following the release of its second-quarter earnings. The streaming giant reported global net adds of 2.7 million — much lower than earlier stated guidance of 5 million — and blamed its content slate for the shortfall. The company reported earnings per share of 60 cents on revenue of $4.92 billion. Analysts were expecting earnings per share of 56 cents on revenue of $4.93 billion, according to Refinitiv.
Shares of IBM rose as much as 4% before losing those gains and falling 1% after the company’s second-quarter earnings report. Results were better than analysts expected, but the stock gave up its gains during the company’s earnings call. The technology services company reported second quarter earnings per share of $3.17 on revenue of $19.16 billion. Analysts surveyed by Refinitiv had expected earnings per share of $3.07 on revenue of $19.16 billion. The company’s CEO Ginni Rometty, noted strong performance across IBM’s Cloud and Cognitive Software Segment.
eBay rose 6% after the e-commerce company’s second-quarter earnings beat expectations. Excluding one-time items, eBay reported earnings of 68 cents per share on revenue of $2.69 billion. Analysts had expected earnings per share of 62 cents on revenue of $2.68 billion, according to Refinitiv.
Kinder Morgan fell 2% after its second-quarter earnings just missed Wall Street’s estimates. The energy company reported adjusted earnings per share of 22 cents on revenue of $3.59 billion. Analysts polled by Refinitiv were expecting earnings per share of 24 cents on revenue of $3.59 billion.
United Rentals fell 6% after the holding company cut its 2019 revenue outlook to a range of $9.15 billion to $9.45 billion, compared to its prior outlook of between $9.15 billion and $9.55 billion. The company reported adjusted earnings per share of $4.74 on revenue of $2.29 billion. Analysts had expected earnings of $4.46 on revenue of $2.27 billion, according to Refinitiv.
Shares of Wayfair fell 4% after the online furniture retailer announced its COO James Savarese and CTO John Mullike will retire in 2019.