Fitbit, Qualcomm, Twilio, Western Digital, & others. making biggest moves. Shares of Fitbit rose as much as 21% in after-hours trading following the company’s announcement of cutting its guidance for the next quarter. The maker of health and fitness devices said during its second-quarter earnings report, “With weaker Versa Lite sales, we are lowering the midpoint of our 2019 revenue guidance by $95 million to $1.455 billion from $1.550 billion and now expect full-year 2019 revenue to be $1.43 billion to $1.48 billion.”
Fitbit reported an adjusted loss of 14 cents per share on revenue of $314 million for the second quarter, beating expectations for a loss of 18 cents on revenue of $312 million from analysts polled by Refinitiv.
Qualcomm slipped 5% after the company posted last month’s revenue that was below analysts’ expectations. The semiconductor company also issued disappointing guidance for the September quarter. Qualcomm posted adjusted earnings per share of 80 cents and $4.89 billion in revenue. While analysts had projected earnings per share of 75 cents on revenue of $5.08 billion.
Twilio dropped 3% even after surpassing analysts’ estimates for its second-quarter revenue. The company released adjusted earnings per share of 3 cents and $275 million in revenue. However, analysts had expected earnings per share of 3 cents and $264 million in revenue.
Stocks of Western Digital rose 2% on the company’s mixed fourth-quarter results. The company announced revenue of $3.63 billion, while analysts had expected below the $3.66 billion.