Alphabet, ServiceNow and Fortinet led after-hours declines among S&P 500 companies reporting Wednesday after the close, while Microsoft, Chipotle and eBay moved higher. Fortinet's after-hours move was the sharpest of the group, down about 25%, followed by ServiceNow down near 18% and Alphabet's two share classes each down roughly 10%.
Earnings after the bell
Fortinet beat estimates, with earnings per share of $0.91 against an estimate of $0.86 and revenue of $2.08 billion versus $2.06 billion expected, yet shares fell sharply after hours. Barron's noted the company had raised its billings outlook for the third time this year, and GlobeNewswire reported Fortinet's fourth-quarter guidance calls for revenue of $2.155 billion to $2.245 billion and non-GAAP earnings per share of $0.93 to $0.95.
ServiceNow missed on earnings per share, posting $1.00 against an estimate of $1.02, while revenue of $4.11 billion topped the $4.09 billion estimate; shares fell after hours. StreetInsider reported the company issued fourth-quarter revenue guidance alongside the results.
Alphabet's Class A and Class C shares both missed estimates and fell after hours. Class A reported earnings per share of $2.12 versus an estimate of $2.97, with revenue of $127.58 billion versus $127.96 billion expected; Benzinga reported analysts had expected earnings of $3.02 per share and revenue of $128.18 billion to $128.20 billion, and said the earnings figure "may not compare" directly to that estimate. Benzinga also reported Google Cloud revenue surged in the quarter.
Chipotle Mexican Grill missed on earnings per share, $0.27 versus an estimate of $0.29, with revenue in line at $3.29 billion, and shares rose after hours. Gen Digital beat on both lines, with earnings per share of $0.74 versus $0.72 estimated and revenue of $1.37 billion versus $1.34 billion, and shares gained after hours.
Tyler Technologies beat on earnings per share, $3.52 versus $3.48, but missed on revenue, $647.57 million versus $651.53 million, and shares fell after hours. eBay beat on both lines, with earnings per share of $1.51 versus $1.41 and revenue of $3.21 billion versus $3.12 billion, and shares rose after hours.
Honeywell Aerospace beat estimates, with earnings per share of $2.21 against an estimate of $1.87, which Barron's described as a stronger quarter than its August results; shares still fell after hours. O'Reilly Auto Parts and KLA Corporation each beat on both earnings per share and revenue and rose after hours.
Microsoft beat estimates, with earnings per share of $4.89 versus $4.72 and revenue of $92.28 billion versus $90.62 billion, and shares rose after hours. FedEx beat on earnings per share, $3.74 versus $3.34, and on revenue, $22.86 billion versus $22.73 billion, but Barron's reported the stock was rattled by its guidance, and shares fell after hours.
Equinix, American Water Works, Ford Motor Company, Align Technology, T-Mobile US, Everest Group, MGM Resorts and Raymond James Financial also reported, with results against estimates as shown in the table and after-hours moves ranging from small declines to small gains. Carvana missed on earnings per share, $0.39 versus $0.44, while revenue of $8.04 billion beat the $7.71 billion estimate; Barron's reported the company reached a sales milestone even as earnings came in short. Invitation Homes beat estimates while Mid-America Apartment Communities and Vici Properties missed; the table shows no after-hours price for Carvana, Mid-America Apartment Communities or Vici Properties.
The dashed line is each stock's close; the shaded stretch is after hours. Every panel runs from +27% to −27%, so a steeper line is a bigger move.
Source: Trades in the regular session and after hours, each against its own close · as of October 28, 2026 at 6:30 PM ET · Five-minute closes. Extended-hours trading is thin.
| Stock | Company | EPS | EPS estimate | Revenue | Revenue estimate | EPS vs estimate | After hours |
|---|---|---|---|---|---|---|---|
| FTNT | Fortinet | $0.91 | $0.86 | $2.08 billion | $2.06 billion | Beat | -25.47% |
| NOW | ServiceNow | $1.00 | $1.02 | $4.11 billion | $4.09 billion | Missed | -17.84% |
| GOOGL | Alphabet Inc. (Class A) | $2.12 | $2.97 | $127.58 billion | $127.96 billion | Missed | -10.00% |
| GOOG | Alphabet Inc. (Class C) | $2.67 | $3.01 | $127.58 billion | $127.97 billion | Missed | -9.81% |
| CMG | Chipotle Mexican Grill | $0.27 | $0.29 | $3.29 billion | $3.29 billion | Missed | +6.78% |
| GEN | Gen Digital | $0.74 | $0.72 | $1.37 billion | $1.34 billion | Beat | +5.92% |
| TYL | Tyler Technologies | $3.52 | $3.48 | $647.57 million | $651.53 million | Beat | -5.79% |
| EBAY | eBay | $1.51 | $1.41 | $3.21 billion | $3.12 billion | Beat | +4.38% |
| HONA | Honeywell Aerospace Inc | $2.21 | $1.87 | $4.64 billion | $4.57 billion | Beat | -4.25% |
| ORLY | O'Reilly Auto Parts | $0.97 | $0.93 | $5.12 billion | $5.02 billion | Beat | +3.93% |
| KLAC | KLA Corporation | $1.22 | $1.19 | $4.14 billion | $4.04 billion | Beat | +3.92% |
| MSFT | Microsoft | $4.89 | $4.72 | $92.28 billion | $90.62 billion | Beat | +2.76% |
| FDX | FedEx | $3.74 | $3.34 | $22.86 billion | $22.73 billion | Beat | -2.41% |
| EQIX | Equinix | $4.93 | $4.11 | $2.57 billion | $2.56 billion | Beat | +2.11% |
| AWK | American Water Works | $2.00 | $2.04 | $1.51 billion | $1.58 billion | Missed | +1.50% |
| F | Ford Motor Company | $0.49 | $0.41 | $49.53 billion | $49.08 billion | Beat | -1.24% |
| ALGN | Align Technology | $2.80 | $2.77 | $1.01 billion | $1.00 billion | Beat | -1.05% |
| TMUS | T-Mobile US | $3.22 | $2.89 | $23.58 billion | $23.15 billion | Beat | +0.89% |
| EG | Everest Group | $7.62 | $8.20 | $3.71 billion | $3.81 billion | Missed | +0.71% |
| MGM | MGM Resorts | -$0.11 | $0.04 | $4.21 billion | $4.21 billion | Missed | +0.22% |
| RJF | Raymond James Financial | $3.59 | $3.26 | $4.27 billion | $4.20 billion | Beat | +0.03% |
| CVNA | Carvana Co. | $0.39 | $0.44 | $8.04 billion | $7.71 billion | Missed | — |
| INVH | Invitation Homes | $0.27 | $0.18 | $731.28 million | $742.55 million | Beat | 0.00% |
| MAA | Mid-America Apartment Communities | $0.72 | $0.77 | $560.13 million | $558.07 million | Missed | — |
| VICI | Vici Properties | $0.31 | $0.72 | $1.07 billion | $1.06 billion | Missed | — |
Source: Company earnings calendar; after-hours trades against today's close · as of October 28, 2026 at 6:30 PM ET
The biggest after-hours moves
Lumentum Holdings posted the largest after-hours gain among S&P 500 stocks, up about 11%, followed by Chipotle, Gen Digital, eBay and O'Reilly Auto Parts, each up between roughly 4% and 7%.
On the decline side, Fortinet's after-hours drop of about 25% was the steepest, followed by ServiceNow down near 18%, Alphabet's Class A and Class C shares each down roughly 10%, and Marvell Technology down about 9%.
Source: After-hours trades against today's close, S&P 500 members · as of October 28, 2026 at 6:30 PM ET
| Stock | Company | Close | After hours | Change |
|---|---|---|---|---|
| LITE | Lumentum Holdings Inc. | $913.95 | $1,012.01 | +10.73% |
| CMG | Chipotle Mexican Grill | $28.78 | $30.73 | +6.78% |
| GEN | Gen Digital | $24.35 | $25.79 | +5.92% |
| EBAY | eBay | $118.02 | $123.19 | +4.38% |
| ORLY | O'Reilly Auto Parts | $90.44 | $93.99 | +3.93% |
Source: After-hours trades against today's close, S&P 500 members · as of October 28, 2026 at 6:30 PM ET
| Stock | Company | Close | After hours | Change |
|---|---|---|---|---|
| FTNT | Fortinet | $174.08 | $129.75 | -25.47% |
| NOW | ServiceNow | $150.13 | $123.34 | -17.84% |
| GOOGL | Alphabet Inc. (Class A) | $324.89 | $292.39 | -10.00% |
| GOOG | Alphabet Inc. (Class C) | $321.89 | $290.30 | -9.81% |
| MRVL | Marvell Technology, Inc. | $251.65 | $230.00 | -8.60% |
Source: After-hours trades against today's close, S&P 500 members · as of October 28, 2026 at 6:30 PM ET
Before the open tomorrow
Thirty-four S&P 500 companies are scheduled to report before Thursday's open. Caterpillar, Linde, Bristol Myers Squibb, D.R. Horton, Intercontinental Exchange and Hershey will be among those reporting, alongside Ameriprise Financial, A.O. Smith, Ares Management, Avery Dennison, Baxter International, Bunge Global, Carrier Global, CRH, Cognizant, EMCOR Group, Huntington Ingalls Industries, Howmet Aerospace, Incyte and Kimco Realty.
| Stock | Company | EPS estimate |
|---|---|---|
| AMP | Ameriprise Financial | $11.77 |
| AOS | A. O. Smith | $0.90 |
| ARES | Ares Management Corporation | $1.25 |
| AVY | Avery Dennison | $2.32 |
| BAX | Baxter International | $0.52 |
| BG | Bunge Global | $2.41 |
| BMY | Bristol Myers Squibb | $1.10 |
| CARR | Carrier Global | $0.76 |
| CAT | Caterpillar Inc. | $7.06 |
| CRH | CRH plc | $2.06 |
| CTSH | Cognizant | $1.46 |
| DHI | D. R. Horton | $3.01 |
| EME | EMCOR Group, Inc. | $8.37 |
| HII | Huntington Ingalls Industries | $4.36 |
| HSY | Hershey Company (The) | $2.11 |
| HWM | Howmet Aerospace | $1.37 |
| ICE | Intercontinental Exchange | $1.97 |
| INCY | Incyte | -$3.93 |
| KIM | Kimco Realty | $0.20 |
| LIN | Linde plc | $4.52 |
Source: Company earnings calendar · 34 report in all.