Check out the companies making headlines over the long term. NVIDIA — Shares of the chip giant rose more than 8% in after-hours trading as its booming artificial intelligence business drove record quarterly revenue. Nvidia’s total revenue increased 265% year-on-year due to strong sales of server AI chips. Lucid Group — The electric car company reported revenue that fell short of expectations as losses widened, sending its shares down nearly 7% in after-hours trading. Lucid reported revenue of $157 million in its latest quarter, missing estimates of $180 million from LSEG (formerly Refinitiv). Etsy — Shares of the online marketplace fell 6% in after-hours trading after the company reported lower-than-expected profits. Etsy reported earnings of 62 cents per share, compared with LSEG’s estimate of 78 cents. However, Etsy’s revenue exceeded expectations. Rivian Automotive – Shares of Rivian Automotive plunged 13% after the electric car maker reported a huge loss and said it would cut 10% of its workforce. Rivian expects electric vehicle production this year to be well below Wall Street expectations. In the fourth quarter, Rivian lost $1.36 per share, 4 cents below LSEG’s per-share forecast. However, the company’s revenue of $1.32 billion did top expectations. Synopsys — Shares of Synopsys rose more than 4% after the software company reported a strong earnings report. Synopsys’ earnings per share, excluding items, were $3.56, beating LSEG’s estimate of $3.43 per share. The company also forecast higher-than-expected second-quarter revenue and profit.
