Check out the companies making headlines in extended trading. Nvidia — The chip giant saw shares climb more than 8% in after-hours trading on the back of record quarterly revenue driven by its booming artificial intelligence business. Nvidia’s total revenue rose 265% from a year ago, based on strong sales of AI chips for servers. Lucid Group — Shares slid nearly 7% in extended trading after the electric vehicle company posted a revenue miss as losses widened. Lucid reported revenue of $157 million in the latest quarter, lower than an LSEG, formerly Refinitiv, estimate of $180 million. Etsy — The online marketplace saw shares drop 6% in extended trading after the company posted an earnings miss. Etsy posted earnings per share of 62 cents, compared to an LSEG estimate of 78 cents. Etsy’s revenue beat expectations, however. Rivian Automotive — The EV player’s stock plunged 13% after the company reported steep losses and said it would cut 10% of its salaried workforce. Rivian expects EV production this year to be far lower than Wall Street expected. In the fourth quarter, Rivian lost $1.36 per share, 4 cents lower than the per share estimate from LSEG. The company’s revenue of $1.32 billion, however, did come in higher than expected. Synopsys — Shares rose over 4% after the software company posted a strong earnings report. Synopsys’ earnings came in at $3.56 per share, excluding items, higher than an LSEG estimate of $3.43 per share. The company also forecast second-quarter revenue and earnings above estimates.
Source: www.cnbc.com