Alphabet, AMD, PayPal and more

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Discover the companies making headlines after the bell:

Alphabet – Shares of Google’s parent company rose more than 7% in extended trading after the company beat highs and lows for its quarterly results. The tech giant earned $30.69 per share on revenue of $75.33 billion. Wall Street expected a profit of $27.34 on revenue of $72.17 billion, according to Refinitiv. Alphabet also announced a 20-to-1 stock split.

Starbucks – Shares of the global coffee chain fell more than 4% in after-hours trading after Starbucks reported quarterly earnings that fell below Wall Street forecasts, dragged down by higher costs. Starbucks earned 72 cents per share, while analysts had expected 80 cents per share, according to Refinitiv. Revenues, however, exceeded estimates.

General Motors – The automaker reported mixed quarterly results, earning $1.35 a share on revenue of $33.58 billion. Wall Street expected earnings of $1.19 per share on revenue of $34.01 billion, according to Refinitiv. The company also said it expects to generate operating profit of $13 billion to $15 billion in 2022, in line with expectations.

Advanced Micro Devices – Shares of the chipmaker rose 9% after hours on a quarterly higher and lower pace. AMD earned 92 cents per share on revenue of $4.83 billion. Wall Street expected earnings of 76 cents per share on revenue of $4.53 billion, according to Refinitiv. AMD also released strong first-quarter and full-year revenue guidance.

PayPal – Shares of the payments giant fell 14% after hours after disappointing first-quarter and full-year guidance. PayPal sees first-quarter EPS of 87 cents, versus a Wall Street consensus of $1.16 per share, according to Refinitiv. PayPal reported earnings roughly in line and revenue above expectations for the fourth quarter.

Electronic Arts – Shares of the video game company fell about 2.5% after the bell following its quarterly earnings report. Electronic Arts reported GAAP earnings of 23 cents per share, which was not comparable to estimates. Its quarterly revenue of $2.58 billion fell below Wall Street projections.

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