Big moves in extended trading highlighted a busy earnings tape, with results and guidance driving sharp stock swings across retail, technology, autos and energy. Amazon jumped after a strong quarter in both revenue and cloud momentum, while Apple and Coinbase slid on investor scrutiny of their reports. Other names—including Rivian, Reddit and First Solar—reacted to guidance and operating metrics as markets digested earnings from multiple sectors.
Key takeaways
- Amazon shares rose more than 9% in extended trading after better-than-expected revenue and a surge in cloud growth for the second quarter.
- Apple shares fell more than 4% after-hours as investors weighed earnings results and demand signals, including a reported 22% iPhone sales increase.
- Coinbase stock dropped more than 5% following its third consecutive quarterly loss and revenue that missed analyst expectations.
- Rivian gained nearly 2% after the company cut 2026 spending plans and narrowed expected losses while reconfirming a 2026 delivery range.
- Reddit shares fell over 7% amid concerns about choppiness in Google search referral traffic, despite a quarter that beat on earnings and revenue.
What drove the moves
Amazon outperformed as revenue and its cloud business delivered a clear beat. According to the report on CNBC, Amazon’s cloud segment revenue grew 37% year over year in the second quarter, exceeding Wall Street’s expectation of 31% growth. The stock’s extended-trading jump reflected investor focus on cloud as a key growth engine and a sign that momentum is strengthening again—its fastest growth pace in 18 quarters, per the coverage.
Apple slid in after-hours trading after investors reviewed its fiscal third-quarter results. CNBC reported that Apple posted stronger-than-expected revenue, with iPhone sales up 22% year over year. The pullback suggests that, despite top-line strength, investors were likely evaluating the broader mix of results and forward outlook more critically than in prior quarters.
Coinbase declined after another difficult earnings period. CNBC said the company reported a third straight quarterly loss of $359.5 million, or $1.36 per share, against analyst expectations for a 17-cent loss per share. Revenue of $1.22 billion also came in below the $1.31 billion estimate, reinforcing investor sensitivity to profitability trends and revenue quality in crypto markets.
Rivian Automotive rose modestly after management adjusted spending and loss expectations. According to the report on CNBC, Rivian reduced its 2026 spending plans and slightly narrowed its previously forecasted losses for this year. The company also reconfirmed a delivery target of 65,000 to 70,000 vehicles, a range it had previously raised.
Reddit posted a sharper selloff after investors focused on traffic dynamics tied to search. CNBC reported that shares fell more than 7% in after-hours trading, with concerns centered on search-referral traffic from Google. CEO Steve Huffman said search referrals were “choppy” during the quarter, even though the company delivered second-quarter earnings that beat on both top and bottom lines and issued guidance that exceeded expectations, per the coverage. The reaction underscored how quickly investors can shift attention from headline beats to durability of traffic and monetization pathways.
First Solar gained after earnings surpassed expectations. CNBC reported that First Solar rose more than 3% following second-quarter results that beat Wall Street forecasts. The company earned $3.92 per share versus a FactSet consensus estimate of $2.99, while revenue of $1.06 billion roughly matched expectations.
Market reaction and investor implications
Across the set of companies, the common thread was that investors were not only rewarding beats, but also parsing whether the drivers behind those results look sustainable. Amazon’s cloud growth—clearly stronger than the expected pace—appears to have helped investors broaden their view beyond a single quarter. The magnitude and timing of the cloud growth acceleration mattered, with the report noting it was the unit’s fastest growth in 18 quarters.
In contrast, Apple’s after-hours decline suggests that even with a revenue beat and rising iPhone sales, the market reaction likely reflected expectations about what comes next—whether in margins, product cycle momentum, or demand signals. Coinbase’s drop was more straightforward: a third consecutive quarterly loss and a revenue miss likely compounded concerns around operating leverage and the pace of improvement in profitability.
Rivian’s rise highlighted that incremental changes to spending plans and loss forecasts can still be meaningful for capital-intensive businesses, particularly when paired with reaffirmed delivery targets. Meanwhile, Reddit’s sharp decline despite beating earnings and guidance emphasizes that traffic quality can dominate the story. Investors appeared to weigh the reported “choppy” nature of Google search referrals as a risk to engagement and ad performance.
First Solar’s gain reflected a more traditional earnings beat dynamic—higher-than-expected earnings per share with revenue roughly in line—suggesting that, for investors, confirmation of financial delivery outweighed concerns that may linger in the solar sector.
Bigger picture: what to watch next
Heading into the next round of updates, investors are likely to focus on whether companies can sustain the quarter-to-quarter narratives implied by these results: cloud growth trajectory for Amazon, demand and margin signals for Apple, profitability progress for Coinbase, the cost discipline and delivery cadence for Rivian, and the stability of search referral traffic for Reddit. For the broader market, the immediate follow-through will depend on how management teams guide next-quarter fundamentals and how investors interpret any changes in growth durability—especially for businesses exposed to macro conditions and platform-driven traffic.
