During extended trading, shares of Netflix dropped more than 5% after the streaming giant reported its quarterly results. Netflix stated that it was too soon to fully comprehend the consequences of its crackdown on password sharing and revenue from its advertisement-based offering. The company recorded $3.29 earnings per share on $8.19 billion in revenue; prior estimates were $2.86 and $8.3 billion, respectively. After IBM's mixed second-quarter earnings report, its stock lost 0.7%. Revenue was $15.48 billion, not meeting the estimated $15.58 billion. Nonetheless, adjusted earnings of $2.18 per share surpassed the consensus forecast of $2.01 per share. As Tesla issued its second-quarter earnings announcement, its shares moved around the level line. Though total revenue hit record-highs, operating margins dipped to their lowest point in five quarters because of discounts and incentives. Shares of United Airlines rose 2.5% after its revenue and earnings in Q2 exceeded analysts' expectations, despite disruptions at its Newark hub. The airline posted $5.03 adjusted EPS and $14.18 billion in total sales, while estimates were $4.03 and $13.91 billion, respectively. The company also issued an optimistic forecast for the ongoing quarter, spurring American Airlines shares to climb 1.4%. Zions Bancorp stocks surged 7% following its second-quarter results that beat estimates. The regional bank announced $1.11 EPS, contrasted with the predicted $1.08. Las Vegas Sands' stock declined almost 3%, in spite of outperforming on the top and bottom lines in Q2; adjusted earnings of 46 cents per share and revenue of $2.54 billion were above the expected 43 cents and $2.39 billion. Meanwhile, a sudden 13% drop in Discover Financial shares transpired after the digital banking company's second-quarter revenue and earnings missed market expectations. The company posted $3.54 EPS on $3.88 billion in sales, whereas estimates were $3.67 and $3.88 billion, respectively. Discover shared that it is in discussion with regulators over a "card product misclassification" issue; additionally, the firm has paused share buybacks.
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