Dow Futures Gain, Meta Surges 18% After Earnings By Investing.com

By Oliver Gray 

Investing.com – were trading higher during Wednesday’s evening deals, after major benchmark averages finished slightly higher during regular trading as investors digested quarterly earnings results from mega-cap names.

by 6:45pm ET (10:45pm GMT) added 0.3%, lifted 0.8% and gained 1.3%.

In extended deals, Meta Platforms Inc (NASDAQ:) popped 18.3% after reporting , with EPS coming in at $2.72 versus $2.56 expected while revenues were at $27.91 billion versus $28.2 billion expected. Daily active users on Facebook also beat analyst expectations.

Ford Motor Company (NYSE:) rose 4% after adjusted earnings per share of 38 cents versus 37 cents expected, while revenues came in at $32.1 billion versus $31.13 billion expected.

PayPal Holdings Inc (NASDAQ:) gained 3.2% after Q1 results, with EPS of $0.88 and revenue of $6.5 billion, both in line with the consensus estimates. The company also slashed revenue and earnings per share guidance for the full year and issued weak guidance for the second quarter.

Qualcomm Incorporated (NASDAQ:) rose 5% after hours following better than expected , driven in part by Android phone chip sales. The company reported adjusted revenue of $3.21 per share versus $2.91 expected, while revenues came in at $11.16 billion versus $10.6 billion expected.

Pinterest Inc (NYSE:) surged more than 11% in extended trading after a beat on the top and bottom lines in the recent quarter. EPS came in at 10 cents versus 4 cents expected, on revenues of $575 million versus $573 million expected. Monthly active users fell 9% year-over-year to 433 million.

Investors are looking ahead to big tech earnings on Thursday from Apple Inc (NASDAQ:), Amazon.com Inc (NASDAQ:) and Twitter Inc (NYSE:), along with results from Robinhood Markets Inc (NASDAQ:). On the economic front, data will also be closely monitored.

During Wednesday’s regular deals, the rose 61.75 points or 0.2% to 33,301.93, the advanced 0.2% to 4,183.96 and the finished little changed at 12,488.93.

Among stocks, Microsoft Corporation (NASDAQ:) rose 4.8% after strong results. Visa Inc Class A (NYSE:) added 6.5% after the company’s quarterly topped analyst estimates on the top and bottom lines. Solar company Enphase Energy Inc (NASDAQ:) also surged 7.7% after an earnings beat. On the downside, Alphabet Inc (NASDAQ:) fell 3.6% after results missed analysts expectations, while Boeing Co (NYSE:) dropped 7.5% after an miss.

On the bond markets, yields eased to 2.826%.