Nvidia experienced an impressive climb of over 8% in after-hours trading, fueled by record quarterly revenue primarily from its artificial intelligence business. The total revenue soared by an astounding 265% compared to the previous year, largely driven by robust sales of AI chips for servers.
On the contrary, Lucid Group witnessed a sharp decline of nearly 7% in extended trading due to a revenue miss and widened losses. The company reported revenue of $157 million, falling short of the $180 million estimate provided by LSEG. This outcome led to a negative impact on the company’s stock performance.
Etsy, the online marketplace, encountered a 6% drop in shares during after-hours trading following an earnings miss. Despite exceeding revenue expectations, posting earnings per share of 62 cents compared to the estimated 78 cents by LSEG, the market responded negatively to this development.
Rivian Automotive faced significant challenges as its stock plummeted by 13% after reporting substantial losses and announcing a workforce reduction. The company’s EV production forecast for the year was disappointingly low, leading to a diminished investor confidence. Although the revenue exceeded expectations at $1.32 billion, the losses overshadowed this positive outcome.
In contrast, Synopsys enjoyed a rise of over 4% in shares post-market with a strong earnings report. The company delivered earnings per share of $3.56, surpassing the $3.43 estimate from LSEG. Additionally, Synopsys provided a promising outlook for the second quarter, anticipating revenue and earnings higher than the projected estimates.