Apple Tops Sales Estimates, Roblox Tumbles After Earnings, Reddit Beats

Today's biggest winners and losers in the stock market. On this episode of Stock Movers, we recap several earnings after the bell: - Apple (AAPL) delivered second-quarter revenue that edged past analysts’ estimates, helped by demand for the iPhone and Mac, while failing to produce the blowout results that some investors were anticipating. Still, the results were uneven. Apple fell short of expectations in the Americas and Europe regions, while exceeding projections in China and other parts of Asia. The iPhone — its flagship product — was in line with the average Wall Street estimate. Apple shares fluctuated in late trading. The stock had been down less than 1% this year, trailing a 5.3% gain by the S&P 500 index. - Roblox (RBLX) reported first-quarter users that fell short of analysts’ expectations after implementing safety features restricting how kids, who make up a majority of its audience, can use the platform. The video-game company’s 132 million daily active users fell under analysts’ estimates of 143.8 million. While that’s a 35% increase year-over-year, it marks the second consecutive decline compared with the previous quarter. Bookings, a measure of sales, came in at $1.7 billion, falling slightly short of Wall Street’s expectations of $1.73 billion. Roblox shares tumbled in post-market trading after the results were announced. - Reddit (RDDT) projected sales in the current period that surpassed Wall Street estimates, continuing a streak of strong revenue growth powered by the company’s surging advertising business. First-quarter sales gained 69% to $663 million, easily outpacing the average estimate of $609.3 million. The report marked the seventh consecutive quarter that the social forum posted revenue growth above 60%. The shares rose in extended trading after closing at $147.23 in New York. The stock has dropped 36% so far this year.See omnystudio.com/listener for privacy information.