Netflix shares soared in extended trading on Tuesday. The video streaming company reported quarterly earnings that topped analysts’ expectations as its international expansion boosted subscriber growth. Netflix added 5.59 million total net subscribers in the quarter, up from 4.33 million additions in the previous year. The company had 4.04 million net subscriber additions outside of the United States, easily beating expectations of 3.51 million and up from 2.43 million in the prior-year period.
IBM moved lower in extended trading after the tech giant reported fourth-quarter earnings on Tuesday that topped analyst estimates.The tech giant said it saw adjusted quarterly earnings of $4.84 per share on $22.06 billion in revenue. Analysts had expected IBM to report earnings of about $4.81 a share on $22.02 billion in revenue, according to a consensus estimate from Thomson Reuters.
The home furnishings company Williams-Sonoma also dipped after the bell. Its West Elm unit is recalling about 6,100 Saddle bar and counter stools because the legs can break, the U.S. Consumer Product Safety Commission said on Tuesday. West Elm has gotten six reports of the stools breaking, with one injury, the commission said in a statement. About 6,000 stools in the United States and another 100 in Canada are being pulled.
Meanwhile, shares of Freeport-McMoRan were slightly higher in extended trading, even though the energy sector is on pace for its worst monthly performance since September 2011. U.S. crude pricesclosed at $28.46 a barrel, a low going back to September 2003.
Coach inched higher in extended trading. Days after the National Retail Federation reported that holiday sales growth fell short of its forecast,data from Adobe Digital Index found that online sales hit a record $83 billion in November and December, easily beating the firm’s expectations.[“source-gsmarena”]