Stocks to Watch: Meta Platforms, Arm Holdings, Qualcomm
By Connor Hart
Meta Platforms said quarterly digital advertising grew rapidly in the second quarter, offset by continued investments in artificial intelligence. Capital expenditures increased to $8.47 billion in the recent quarter, as the company doubles down on building out AI-related infrastructure. Shares rise more than 7%, to $509.84, in after-hours trading.
Arm Holdings posted largely better-than-expected fiscal first-quarter results but reported a miss on its royalty revenue. The chip maker's top-line total included $467 million in royalty revenue, whereas the FactSet consensus was for $492 million. Shares fall 11%, to $128.02, in after-hours trading.
Qualcomm reported revenue ahead of expectations in its fiscal third quarter. The company posted revenue of $9.4 billion, above analysts' expectations of $9.2 billion. Adjusted earnings came in at $2.33 a share, also beating Wall Street's consensus estimate of $2.25. Shares initially rise in postmarket trading, but later lose those gains, down 1.5%, to $178.31.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
July 31, 2024 20:14 ET (00:14 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued
-
Utilities: Falling Interest Rates, Growth Outlook Boosting Stocks