Apple soars 8.6% and eBay rises 5.8%, while Yahoo drops 21.8%.
Shares of Apple soared 8.6% in after-market stock trading, while eBay rose 5.8% after both companies reported stronger-than-expected quarterly earnings. Yahoo was among the few decliners on Nasdaq trading Wednesday, plunging 21.8%.
Apple shares rose to $58.75 in after-market trading, up $4.65. Its shares had gained 2.3% during regular hours to end at $54.10.
The computer maker reported earnings for its fiscal third quarter rose to $472 million, or 54 cents per share, handily beating analyst estimates for a net profit of $392 million, or 44 cents per share. The company also dispelled analyst comments that sales of its iPod digital music players were slowing, by shipping 8.11 million units during the quarter, up 32% over last year.
Sales of the company’s Macintosh computers also beat expectations, rising 12% year-on-year to 1.33 million.
EBay stock rose to $27.43 in after-market trading, up $1.50. The company’s second-quarter earnings matched Wall Street’s expectations, and its outlook for the third quarter and the rest of the year lifted sentiment.
The Internet auction giant said it expects revenue at from $5.7 billion to $5.9 billion for the full year and from $1.35 billion to $1.43 billion in the third quarter.
Shares in Yahoo fell to $25.20 during regular Nasdaq trade, down $7.04 on the day. The company’s second-quarter revenue fell short of Wall Street’s expectations, and it delayed a highly anticipated new advertising platform, called Project Panama.
Yahoo’s revenue rose 26% year-on-year to $1.58 billion in the three months ended June 30. After subtracting the commissions Yahoo pays to third-party Web sites that belong to its advertising network, its revenue was $1.12 billion, up 28% over last year, but below the $1.14 billion analysts expected, according to a Thomson Financial poll.
In after-market trading, Yahoo’s shares recovered slightly, rising 20 cents to end at $25.40.
