[ad_1]
Check out the companies making headlines in extended trading. Nvidia – The chip giant saw shares rise more than 8% in after-hours trading on record quarterly revenue driven by its growing artificial intelligence business. Nvidia’s total revenue increased 265% from a year earlier on the back of strong sales of AI chips for servers. Lucid Group – Shares fell nearly 7% in extended trading after the electric vehicle company reported a revenue decline as losses widened. Lucid reported revenue of $157 million in the latest quarter, falling short of the $180 million estimate from LSEG, formerly Refinitiv. Etsy – Shares on the online marketplace fell 6% in extended trading after the company reported an earnings miss. Etsy reported earnings per share of 62 cents, compared to LSEG estimates of 78 cents. However, Etsy’s revenue beat expectations. Rivian Automotive – The EV player’s stock fell 13% after the company reported huge losses and said it would cut 10% of its salaried workforce. Rivian expects EV production this year to be much lower than Wall Street expects. In the fourth quarter, Rivian lost $1.36 per share, 4 cents less than LSEG’s per-share estimate. However, the company’s revenue of $1.32 billion came in above expectations. Summary – Shares rose more than 4% after the software company posted a strong earnings report. Excluding items, Synopsys had earnings of $3.56 per share, beating the LSEG estimate of $3.43 per share. The company also beat second-quarter revenue and earnings estimates.