Stocks trending after hours: Meta, Ford, ServiceNow and more

Meta Platforms (META): A miss on earnings and soft fourth-quarter revenue guidance pushed shares lower in extended trading. Revenue for the quarter was $27.7 billion, better than the $27.4 billion expected. Reality Labs operating loss totaled $3.67 billion, more than Wall Street’s forecast of $3.09 billion. Facebook Daily Active Users reached 1.98 billion in the third quarter while Monthly Active Users (MAUs) was 2.96 billion.

“Everyone wants Mark Zuckerberg to hit the air brakes on expenditures,” Jefferies Analyst Brent Thill told Yahoo Finance. “The fact that they're holding head count flat is good but I think everyone is calling for more severe measures… to get a hold of what's happening in this macro storm.”

Ford (F): Shares of the automaker dropped after the company’s profit fell short of expectations. Revenue for the third quarter was $39.4 billion, while adjusted earnings were 30 cents a share. Ford also said it would be taking a $2.7 billion non-cash, pretax impairment on its investment in Argo AI.

ServiceNow (NOW): The stock surged 11% after profit beat expectations and subscription revenues grew 22$ from a year ago. The number of customers paying over $10 million in annual contract value surged 60% year-over-year. ServiceNow also announced today that CEO Bill McDermott will also serve as Chairman of ServiceNow’s Board of Directors. Founder Fred Luddy, who has served as Chairman, will remain a member of the Board.

Align Technology (ALGN): Shares sank after hours after the maker of Invisalign missed on the top and bottom lines for the third quarter. Adjusted earnings was $1.36 a share while revenue totaled $890.3 million. CEO and President Joe Hogan wrote in the earnings release that third quarter results “reflect continued macroeconomic uncertainty and weaker consumer confidence, as well as a significant impact from unfavorable foreign exchange rates across all currencies that affect our operations.”

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