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Stocks making the biggest moves after the bell: Fb, Spotify, Qorvo & more

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A smartphone with Fb’s emblem is seen in entrance of displayed Fb’s new rebrand emblem Meta on this illustration taken October 28, 2021.

Dado Ruvic | Reuters

Try the corporations making headlines after the bell Wednesday:

Meta Platforms — Shares of the Fb mum or dad plunged more than 22% on the again of disappointing quarterly earnings. Meta reported earnings per share of $3.67, whereas analysts polled by Refinitiv anticipated a revenue of three.84 per share. The corporate’s current-quarter income steerage was additionally under expectations.

Qualcomm — Qualcomm shares whipsawed after the semiconductor maker posted better-than-expected outcomes for the earlier quarter. The corporate posted earnings of $3.23 per share on income of $10.7 billion. Analysts anticipated earnings of $3.01 per share on income of $10.42 billion, based on Refinitiv.

Align Know-how — Align Know-how reported a fourth-quarter revenue that was above expectations. The corporate earned an adjusted $2.83 per share, topping a StreetAccount estimate of $2.74 per share. Nonetheless, shares fell about 5% after hours.

Spotify Know-how — Shares of the audio streaming firm dropped more than 11%, after the firm’s quarterly numbers confirmed a slowdown in subscriber progress. Spotify mentioned premium subscribers grew by 16% yr over yr in the fourth quarter. That progress charge is down from 19% in the third quarter.

Qorvo — Qorvo shares dropped about 4% on the again of blended quarterly outcomes. The chipmaker earned $2.98 per share in the earlier quarter, topping a Refinitiv estimate of $2.76 per share. Nonetheless, the firm’s income of $1.11 billion was consistent with expectations.

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