adminCheck out the companies making headlines in after-hours trading. T-Mobile — The telecommunications stock shed 2.9%% after T-Mobile missed on earnings expectations for the fourth quarter, but beat on revenue. The company posted $1.67 per share in earnings, while analysts polled by LSEG expected $1.90 per share. Revenue came out at $20.48 billion for the period, higher than the expected $19.64 billion according to LSEG. T-Mobile expects between 5 million and 5.5 million postpaid net customer additions this year. Intel — Shares of the chip manufacturer lost nearly 8% in after-hours trading after the company posted disappointing first-quarter guidance . Intel expects adjusted earnings of 13 cents per share for the first quarter of 2024, while analysts surveyed by LSEG called for 33 cents per share. Anticipated revenue of $12.2 billion to $13.2 billion also came short of analysts’ expectations of $14.15 billion in revenue for the period. Levi Strauss — Shares of Levi Strauss declined nearly 1% after the apparel company said Thursday it will cut at least 10% of its global corporate workforce through restructuring efforts. The job cuts will happen in the first half of 2024, the company said. Fourth-quarter earnings also came out Thursday, with Levi’s adjusted earnings per share beating estimates, but falling short on expectations for revenue. KLA Corp – Shares of the semiconductor company fell more than 5% after KLA posted light guidance for revenue and earnings per share in the fiscal third quarter. KLA reported adjusted earnings of $6.16 per share on revenue of $2.49 billion in its fiscal second quarter. Analysts polled by LSEG called for earnings of $5.91 per share and revenue of $2.46 billion. Western Digital – The manufacturer of data storage devices saw its shares slide more than 3%. Western Digital beat revenue expectations in the second quarter, posting $3.03 billion, while analysts called for $2.99 billion, per LSEG. The company also reported a narrower-than-expected loss of 69 cents per share, versus analysts’ estimates for a loss of $1.13 per share. — CNBC’s Darla Mercado contributed reporting.
Read the full article here
