SpaceX recorded sharp revenue growth across its three business lines: space, connectivity and artificial intelligence, in its first quarterly earnings report since going public. Chief Executive Elon Musk also outlined ambitious targets for the company, including launching data centers in space in 2027 and reaching $1 trillion in revenue. However, while the company posted narrower losses in the most recent period, heavy capital spending weighed on its operations. The stock fell 6.6% to $117.04 in late trading.
Advanced Micro Devices posted better quarterly results than Wall Street expected, with both profit and sales coming in above consensus estimates. However, SpaceX said in its own earnings call that it would no longer buy AMD's chips, and instead build exclusively on chips from AMD rival Nvidia. AMD shares slid 9.4%, to $469.70 in late trading.
Wynn Resorts's quarterly revenue rose as the casino operator saw resilient demand from the wealthy customers it caters to. The company has been doubling down on its offerings for premium customers lately, including with a new members-only club and a high-end steakhouse at its Las Vegas resort. The company's results topped Wall Street's expectations. Shares gained 5.5%, to $102.93, in after-hours trading.
Pinterest's quarterly sales climbed 18% as it logged record monthly active users, with the social media company citing growing traction with Gen Z. Both metrics beat Wall Street's expectations. However, the San Francisco company swung to a second-quarter loss as higher costs, including a restructuring charge, weighed on its bottom line. The stock declined 8.6% to $23.37 after market close.
Match Group's revenue edged down in the second quarter as sluggish results for Tinder offset continued strength at Hinge. The dating app company expects another sales decline in the current quarter, though gave a better profit outlook than Wall Street was expecting. The stock slid 9.6% to $37.29 in late trading.