After-Hours Market Update: Palantir, Upwork, and Fabrinet Lead Gains Following Earnings Reports
Several major companies experienced significant price volatility in extended trading following their quarterly earnings releases. Tech firms saw mixed but generally positive results; Palantir Technologies reported record revenue exceeding $2 billion, driven by a massive 148% surge in U.S. commercial revenue. Upwork and Fabrinet also saw double-digit gains after raising guidance or beating consensus estimates. In the semiconductor sector, Lattice Semiconductor jumped over 7% on strong revenue beats, while On Semiconductor shares fell following the announcement of a $600 million acquisition of Ferric. Apple reported robust quarterly revenue of $114.48 billion, though its iPad business faced declines and gross margins were pressured by rising component costs.