Amazon’s cloud revenue grew 37% year-over-year, exceeding estimates, while Apple and Reddit shares fell on mixed earnings and traffic concerns.
Amazon shares jumped over 9% in extended trading after reporting second-quarter revenue and cloud growth that surpassed expectations. The company’s cloud segment expanded 37% year-over-year, outpacing the 31% growth forecast and marking its fastest growth in 18 quarters.
Apple’s stock fell more than 4% after hours despite stronger-than-expected fiscal third-quarter revenue, driven by a 22% increase in iPhone sales. Coinbase slid 5% after posting a $359.5 million loss, or $1.36 per share, missing revenue estimates of $1.31 billion. Reddit shares sank 7% on concerns over declining search-referral traffic from Google.
Rivian Automotive rose nearly 2% after reducing its 2026 spending plans and narrowing its projected losses for this year while reaffirming its delivery target of 65,000 to 70,000 vehicles.