Meta Platforms reported a lower profit and diminished free cash flow, and issued revenue guidance for the current quarter that failed to meet Wall Street expectations. Shares fell 6.8% to $546.01 in after-hours trading on Wednesday.

Microsoft reported an 18% increase in revenue, including accelerating revenue growth in Azure, and said Microsoft 365 Copilot has reached 30 million paid users. The stock rose 8.8% to $425.01 after Wednesday's bell.

Carvana issued full-year guidance that failed to meet investor expectations, despite reporting record sales and profits in the second quarter. Shares slid 8% to $61.05.

Qualcomm reported a lower third-quarter profit and falling revenue, and issued a soft outlook for the current quarter. Shares fell 4% to $149.46.

Arm Holdings reported a higher profit and growing revenue, and said demand is picking up for its Arm AGI CPU. Still, the stock was down 6.5% to $210.34 after-hours.