In a busy after-hours session, Rivian Automotive reported a narrower-than-expected first-quarter loss, sending shares higher. The electric-vehicle maker also announced plans to boost initial production capacity at a new Georgia factory to 300,000 vehicles annually, up from a prior target of 200,000. Construction is slated to begin this year.
Qualcomm rallied after strong quarterly results, driven by robust demand for smartphone chips and automotive connectivity solutions. The company's outlook exceeded analyst estimates, fueling investor optimism.
Roblox shares cratered as the gaming platform posted softer-than-expected bookings and user growth metrics for the first quarter. The stock slid more than 10% in extended trading.
Other notable movers included Cloudflare, which gained on upbeat revenue guidance, and DoorDash, which fell despite beating earnings estimates amid concerns about delivery margins.