In after-hours trading, Amazon's shares surged over 9% following a report of 37% year-over-year growth in its cloud segment, exceeding Wall Street's expectations of 31% and marking the fastest growth in 18 quarters.
Conversely, Apple experienced a more than 4% drop in its stock price despite reporting stronger-than-expected revenue for the fiscal third quarter, largely driven by a 22% increase in iPhone sales, as investors reacted to the overall earnings report.
Coinbase's shares fell over 5% after the company reported a loss of $359.5 million, or $1.36 per share, which was significantly worse than the anticipated loss of 17 cents per share, with revenue also falling short of expectations at $1.22 billion compared to the $1.31 billion forecast.
Rivian Automotive saw its shares rise nearly 2% after it reduced its 2026 spending plans and slightly narrowed its projected losses for the year, reaffirming its delivery target of 65,000 to 70,000 vehicles.
Reddit's shares dropped over 7% amid concerns regarding its search-referral traffic from Google, despite reporting second-quarter earnings that exceeded expectations and providing optimistic guidance.
First Solar's stock increased by more than 3% after it reported earnings of $3.92 per share, surpassing the FactSet consensus estimate of $2.99, with revenue of $1.06 billion aligning with expectations