After-hours trading highlights mixed earnings impact across tech, travel and consumer stocks

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After-hours earnings impact

Highlights

Qualcomm drops nearly 6% in after-hours despite a slight Q4 earnings beat, as its adjusted EPS guidance of $2.15–$2.35 trails consensus $2.26.
AppLovin surges over 20% after Q3 adjusted EBITDA hits $1.84 billion versus $1.73 billion consensus and revenue reaches $2.18 billion against $2.07 billion estimate.
Dutch Bros plummets 19% after slashing full-year adjusted EBITDA guidance to at least $380 million from $385–$390 million and Q3 same-store sales growth misses.

Earnings beats and guidance shape after-hours moves

As reported by CNBC, after-hours trading is being led by a mix of earnings surprises and forward guidance revisions across major sectors.

Qualcomm falls almost 6% even after a slight fiscal fourth-quarter earnings beat, as its adjusted earnings outlook of $2.15 to $2.35 per share for the current quarter compares with analysts' expectation of $2.26 per share, according to FactSet. AppLovin jumps more than 20% after third-quarter results top estimates, with adjusted EBITDA of $1.84 billion versus a $1.73 billion consensus and revenue of $2.18 billion against a $2.07 billion forecast. Expedia drops more than 7% after issuing mostly weaker-than-expected guidance for the current quarter, even though its third-quarter earnings and revenue beat estimates.

Coherent gains 7% after reporting adjusted earnings of $2.09 per share, above the FactSet estimate of $1.99, while revenue and current-quarter guidance also exceed expectations. Zillow sinks more than 16% after missing key third-quarter metrics, posting adjusted earnings of 55 cents per share against LSEG estimates of 59 cents and revenue of $724 million versus expectations of $754 million. Klaviyo slides about 5% despite beating third-quarter estimates and raising full-year revenue guidance, while MercadoLibre loses about 7% after earnings per share miss expectations even as revenue comes in ahead of forecasts.

Arm Holdings dips almost 2% despite reporting adjusted earnings of 52 cents per share, ahead of the 47 cents expected by analysts polled by LSEG. Cava falls more than 11% after third-quarter 2026 results miss Wall Street expectations on both earnings and revenue. Wolfspeed drops 5% after a wider-than-expected fiscal first-quarter loss, while Figma declines almost 7% even after quarterly results come in well above consensus estimates.

HubSpot falls more than 8% as fourth-quarter earnings and revenue guidance trails analyst expectations, although third-quarter results beat forecasts. E.l.f. Beauty gains more than 4% after fiscal second-quarter earnings and revenue surpass estimates. Snap tumbles 7% after third-quarter revenue narrowly misses LSEG expectations and daily active users come in below the StreetAccount consensus.

Sector reaction underscores focus on outlook and execution

Investor reaction in late trading shows that company outlooks and operating indicators are carrying as much weight as headline earnings beats. Travel, software, semiconductors, e-commerce, housing and consumer names are all seeing outsized moves as investors reassess near-term demand and margin trends.

Dutch Bros sinks 19% after cutting its full-year adjusted EBITDA guidance to at least $380 million from a previous range of $385 million to $390 million. The coffee chain also reports same-store sales growth of 4.4% in the third quarter, below the StreetAccount consensus estimate of 4.6%.

Fastly plunges 16% even though its third-quarter earnings and revenue top estimates and its guidance for the current quarter also beats expectations. The company also says Scott Lovett, president of Go To Market, will retire in 2027, adding another point for investors to weigh alongside the quarter's financial performance.

In our earlier article on the S&P 500’s pullback during earnings season, we noted that the index slipped as investors rotated between tech/AI winners and other sectors pressured by rising Treasury yields. The analysis highlighted weakening near-term technicals with SPX trading below key moving averages, while underscoring that upcoming major tech results and shifting rate expectations could determine the next directional move.

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