After-Hours Buzz: FB, QCOM & More
Check out which companies are making headlines after the bell Wednesday:
Facebook —The social network saw quarterly revenue rise to $1.59 billion from $1.13 billion a year ago, yet net income plummeted to $64 million from $302 million in the comparable year. Facebook's stock plunged initially in after-hours trading after the mixed report but then recovered most of those losses. The company said in a conference call it had "good momentum" in its ad business. (Click here for an after-hours quote)
Qualcomm — The wireless chip maker reported profits of $1.26 per share on more than $6 billion in revenues. The company also pleased investors by setting its second quarter revenue and share guidance above earlier forecasts. Its shares skyrocketed by nearly six percent after the report, which blew past Wall Street estimates. Qualcomm's CEO recently told CNBC in an interview that he plans to "surf the wave" of smartphones and tablets (Click here for an after-hours quote)
Electronic Arts — The video game maker managed to eke past analysts' share estimates by a cent, coming in at 56 cents per share versus a 57 cents per share estimate. Still, its $1.18 billion in revenues fell short of expectations of $1.29 billion. The stock slid by nearly two percent after hours following the report.
RIMM — The BlackBerry maker announced that it was changing its corporate name to BlackBerry and released a two new handsets that many analysts heralded as a make-or-break moment for the battered company. Yet the company continued to get the thumbs-down from investors in post-market trading: its stock plunged by 12 percent in Wednesday's trading, and the descent continued after hours. (Click here for an after-hours quote)
(Read More: Why the Dow May Not Make It to 14,000)
MasterCard, Dow Chemical and United Postal Service — all three will report earnings on Thursday, and they may likely set the tone ahead of Friday's all-important jobs data. A miss could heap new gloom on a market spooked by Wednesday's surprisingly weak U.S. growth data.