People wait in line for t-shirts at a pop-up kiosk for the online brokerage Robinhood along Wall Street after the company went public with an IPO earlier in the day on July 29, 2021 in New York City.
Spencer Platt | Getty Images
Check out the companies making headlines after the bell:
Robinhood — Shares of the commission-free trading app tumbled more than 5% in after-hours trading after its first earnings report as a public company. Robinhood reported a net loss of $502 million, or a loss of $2.16 per share, within the expected net loss of $487 million to $537 million forecast by the company. Its revenue more than doubled to $565 million, boosted by a massive surge in crypto trading.
Cisco — Shares of the networking hardware company dipped over 1% in extended trading even after the company’s quarterly earnings and revenue exceeded analysts’ expectations. Cisco reported earnings of 84 cents per share, adjusted, compared to 82 cents per share as expected by analysts, according to Refinitiv. Its earnings guidance was slightly disappointing.
Nvidia — The chip giant saw its shares climb after its quarterly earnings report. Nvidia’s earnings and revenue for its fiscal second quarter beat Wall Street estimates amid strong graphics cards sales. However, its cryptocurrency chip products had lower sales at $266 million. The company predicted in May that the segment would hit $400 million.
Wells Fargo — The bank stock slid slightly after the lender said it is reversing a decision to shutter personal lines of credit for its customers amid backlash from customers. The bank will keep the products available for those who actively used them or want to reactivate old ones, but it will not offer the credit lines to new customers.