SAN FRANCISCO (MarketWatch)—Shares of Facebook Inc. rallied in Wednesday's after-hours trading as the social media company reported better-than-expected quarterly earnings.
Facebook (FB) said its second-quarter earnings rose to $791 million, or 30 cents a share, from $333 million, or 13 cents a share, a year earlier. On an adjusted basis, the company earned 42 cents a share versus consensus estimate of 32 cents a share. Revenue jumped 61% to $2.91 billion. Shares rallied 4% in after hours.
Gilead Sciences Inc. (GILD) reported blockbuster second-quarter results and posted strong sales numbers for its new hepatitis C drug Sovaldi. Gilead shares gained more than 1% in extended trading.
E-Trade Financial Corp. (ETFC) said it swung to a second-quarter profit with results coming in slightly ahead of analysts' estimates. E-Trade shares slid in after hours.
TripAdvisor Inc. (TRIP) said its second-quarter profit edged up to $68 million, or 47 cents a share, from $67 million, or 46 cents a share, a year ago. Excluding one-time items, the online travel website would have earned 55 cents a share. Analysts surveyed by FactSet had forecast TripAdvisor to earn 61 cents. Revenue totaled $323 million, up from $247 million. Shares slumped 5% in after hours.
Qualcomm Inc. (QCOM) reported its third-quarter profit rose 42% on broad-based demand and raised its full-year adjusted earnings outlook to a range of $5.21 to $5.36. However, it expressed some concerns about China and said it believes certain licensees in the country are not fully complying with their obligations. Qualcomm shares fell 3.7% in after-hours trading.