Check out the companies making headlines after the bell:
Facebook – The social media giant's shares plummeted 7% in extended trading on Wednesday after the company showed a 51% rise in expenses in the fourth quarter. Overall, Facebook delivered strong fourth-quarter results, reporting a quarterly profit of $2.56 per share compared to a Refinitiv consensus estimate of $2.53 a share. The company posted revenue of $21.08 billion, which beat Wall Street expectations of $20.89 billion.
Microsoft – Shares of the technology company rose 3% in extended trading after its second-quarter results beat analysts' estimates. The results were driven by its consumer products and cloud services revenue, according to a press release. The company reported quarterly earnings of $1.51 per share on revenue of $36.91 billion, while analysts expected earnings of $1.32 per share on revenue of $35.68 billion, according to Refinitiv.
PayPal – Shares of the online payments system dropped about 4% in extended trading after the company reported strong fourth-quarter earnings but offered weak first-quarter guidance. The company beat earnings per share estimates by 3 cents, reporting a quarterly EPS of 86 cents. Revenue came in slightly above Wall Street forecasts.
Tesla – The automotive company's stock surged 11% in extended trading after it reported strong fourth-quarter results that beat analysts' estimates. Tesla said it expects positive cash flow and net income going forward. Vehicle deliveries should also "comfortably exceed 500,000 units," in 2020. The company reported earnings of $2.14 per share excluding certain items on revenue of $7.38 billion, while analysts expected earnings of $1.72 per share on revenue of $7.02 billion, according to Refinitiv.
Align Technology – The orthodontics company's stock dropped 3% in extended trading after the company reduced its first-quarter revenue outlook due to the coronavirus. There will be 20,000 to 25,000 fewer Invisalign case shipments and approximately $30 to $35 million less revenue for the products sold in China, the company said in a press release. The company beat earnings per share estimates by 13 cents, reporting a quarterly EPS of $1.53. Revenue beat Wall Street expectations by $3 million.
Las Vegas Sands – Shares of the Casino hotel company whipsawed then returned back the closing price of $64.70 in extended trading after the company reported earnings. Las Vegas Sands posted Macao revenue of $2.24 billion in its fourth quarter, which was lower than a year ago. Casinos in Macao have been hit hard by the recent spread of coronavirus in China and visitation is down about 70% due to the outbreak. Las Vegas Sands reported fourth-quarter earnings of 88 cents per share on revenue of $3.51 billion, while analysts expected an EPS of 78 cents on revenue of $3.36 billion, according to Refinitiv.