After hours trading can often be a volatile time for stocks, as news and events that occur after the market closes can have a significant impact on a company’s stock price. In today’s after hours trading session, several stocks are making big moves, including Alphabet Inc. (GOOGL), Flutter Entertainment plc (FLUT), and New Relic Inc. (NU).
Alphabet Inc., the parent company of Google, is seeing its stock price surge in after hours trading after the company reported better-than-expected earnings for the second quarter. The tech giant reported revenue of $61.88 billion, up 62% year-over-year, and earnings per share of $27.26, beating Wall Street estimates. The strong earnings were driven by a surge in online advertising revenue, as more businesses increased their digital marketing spending during the quarter. As a result, Alphabet’s stock is up over 5% in after hours trading, reaching new all-time highs.
Flutter Entertainment plc, the global sports betting and gaming company, is also making big moves after hours, with its stock price jumping nearly 10% following the release of its second quarter earnings report. The company reported revenue of £3.24 billion, up 100% year-over-year, and earnings per share of £3.76, beating analyst expectations. Flutter attributed its strong performance to the continued growth of its online gaming and sports betting platforms, as well as its expansion into new markets. Investors are clearly impressed with Flutter’s results, sending the stock soaring in after hours trading.
New Relic Inc., a software analytics company, is experiencing a different fate in after hours trading, with its stock price plummeting over 15% after the company reported disappointing earnings for the second quarter. New Relic reported revenue of $173 million, up 8% year-over-year, but missed analyst estimates, while its earnings per share of $0.05 fell short of expectations. The company also issued weaker-than-expected guidance for the third quarter, citing challenges in its sales and marketing efforts. As a result, investors are selling off New Relic’s stock in after hours trading, causing a sharp decline in its share price.
Overall, after hours trading can be a tumultuous time for stocks, as companies release their earnings reports and investors react to the news. Today, Alphabet Inc. and Flutter Entertainment plc are enjoying strong gains after posting impressive earnings, while New Relic Inc. is facing a steep drop after missing expectations. It’s always important for investors to stay informed and react accordingly to after hours news and events in order to make informed decisions about their stock holdings.