Major After-Hours Stock Movers: Meta Plummets, Microsoft Surges, and Starbucks Rallies

Meta Platforms’ shares fell nearly 10% after the company reported quarterly earnings per share of $6.18, missing analyst estimates by $1.04. The company also provided third-quarter revenue guidance of $61 billion to $64 billion, with the low end falling short of the $63.15 billion forecast.

Microsoft shares rose approximately 3% following strong quarterly results, posting revenue of $90.01 billion that exceeded estimates of $87.62 billion. Azure growth of 43% at constant currency beat Street estimates of 40.2%, and the company confirmed that Azure revenue surpassed $100 billion for the first time in its fiscal year 2026.

Starbucks shares climbed 5% after the coffee retailer raised its full-year outlook and reported same-store sales growth of 7.9%. Adjusted earnings reached 85 cents per share, beating analyst estimates of 66 cents, while quarterly revenue came in at $9.32 billion versus the $9.16 billion expectation.

Carvana’s shares dropped 14% after the online used-car retailer’s full-year earnings guidance of $2.7 billion to $3 billion fell short of Wall Street expectations, which had included forecasts of $3 billion to $3.2 billion from Deutsche Bank and $4.45 billion from Morgan Stanley.

Chipotle Mexican Grill stocks gained 3% as the burrito chain posted quarterly earnings that beat both the top and bottom lines. The company also raised its full-year same-store sales forecast to a low single-digit increase, improving on its previous outlook of flat growth.

Fortinet shares soared more than 11% after strong second-quarter billings helped the cybersecurity company surpass analyst estimates. Fortinet reported adjusted earnings of 90 cents per share on revenue of $2.05 billion, beating the consensus of 75 cents per share on $1.89 billion. The company’s third-quarter outlook also came in above expectations.

Lam Research shares jumped over 6% following better-than-expected fiscal fourth-quarter results. The semiconductor equipment manufacturer reported adjusted earnings of $1.82 per share on revenue of $6.72 billion.

Robinhood shares fell about 4% despite reporting second-quarter revenue that exceeded expectations. While profits increased year-over-year due to market volatility-boosted trading activity, cryptocurrency trading volumes declined sharply amid a continued cyclical downturn for bitcoin and other tokens.

Qualcomm shares dropped more than 5% on mixed quarterly results. The chipmaker’s adjusted earnings of $2.21 per share slightly missed analysts’ $2.23 estimate, though revenue of $9.95 billion beat expectations of $9.67 billion.

MGM Resorts shares were up nearly 1% after second-quarter results exceeded Street estimates, with adjusted earnings of 59 cents per share and revenue of $4.45 billion, compared to consensus estimates of 57 cents per share and $4.42 billion.

Align Technology shares declined 6% after the company reported quarterly earnings and revenue that narrowly beat estimates. The lower end of the company’s third-quarter revenue guidance, between $1 billion and $1.02 billion, came in below the $1.02 billion analyst expectation.

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