After-Hours Movers: NET, TEAM, FIVN, ABNB, DKNG, AFRM, LRCX, MCHP, AAOI, IREN, AXON

After-Hours Movers:

Cloudflare (NET)

Cloudflare surged 17% in after-hours trading following a comprehensive beat-and-raise performance across all timeframes. The edge connectivity and cloud security provider posted adjusted Q3 EPS of $0.38 (beating the $0.34 analyst consensus) on revenue of $782.5 million versus $736.8 million expected. Management raised full-year 2026 revenue guidance to $2.963–$2.964 billion (above the $2.87 billion consensus) and boosted EPS expectations to $1.35 (vs. $1.26 expected). For Q4, revenue is targeted at $845–$846 million (topping the $798.16 million estimate), driven by accelerating large-enterprise deal sizes and growing developer monetization of its Workers AI platform.

Atlassian (TEAM)

Atlassian tumbled 16% (touching -17% post-market) despite beating fiscal Q1 consensus targets. The collaboration software provider reported adjusted Q1 EPS of $1.65 (ahead of the $1.43 estimate) on revenue of $1.77 billion versus $1.71 billion consensus. While Q2 fiscal 2027 revenue guidance of $1.83–$1.84 billion narrowly topped the $1.82 billion Street target, investors reacted negatively to a decelerating forward cloud subscription trajectory and cautious seat expansion within enterprise accounts.

Five9 (FIVN)

Five9 plunged 18% after hours after issuing a weak fourth-quarter earnings outlook. The intelligent cloud contact center platform delivered Q3 EPS of $0.82 (beating the $0.80 consensus) on revenue of $323.3 million versus $319.04 million expected. However, management forecast Q4 EPS of $0.88–$0.92, falling well short of the $0.99 analyst consensus, as elongated enterprise decision-making cycles and integration delays weighed on projected operating leverage.

Airbnb (ABNB)

Airbnb climbed 7% after delivering a beat-and-raise third-quarter performance. The travel marketplace reported Q3 EPS of $3.16 (surpassing the $2.85 analyst consensus by $0.31) on revenue of $4.87 billion versus $4.75 billion expected. Strong cross-border bookings and extended-stay growth carried into management’s fourth-quarter outlook, with Q4 revenue guided to $3.22–$3.28 billion, topping Wall Street expectations of $3.16 billion.

DraftKings (DKNG)

DraftKings dropped 18% after missing third-quarter estimates and slashing full-year guidance. The digital sports entertainment and gaming operator posted an adjusted loss per share of ($0.53)—substantially wider than the ($0.36) loss expected—on revenue of $1.33 billion versus $1.41 billion consensus. Management lowered full-year 2026 revenue guidance to $6.35–$6.55 billion (trailing the $6.65 billion consensus), citing customer-friendly NFL sports outcomes early in the fall and elevated promotional reinvestment costs in newly launched jurisdictions.

Affirm Holdings (AFRM)

Affirm fell 8% despite topping fiscal first-quarter estimates and issuing solid forward guidance. The Buy Now, Pay Later provider reported Q1 EPS of $0.47 (clearing the $0.38 consensus) on net revenue of $1.26 billion versus $1.21 billion expected. Management guided Q2 fiscal 2027 revenue to $1.435–$1.465 billion (midpoint above the $1.43 billion consensus). However, shares faced immediate profit-taking following a multi-month run-up, with investors remaining cautious over credit provision trends heading into the holiday shopping period.

Lam Research (LRCX)

Lam Research advanced 4% after its board of directors approved a massive $25 billion share repurchase authorization alongside a quarterly cash dividend of $0.33 per share of common stock. The new open-ended authorization supplements existing remaining buyback balances and will be executed through open-market, private, and structured derivative transactions, signaling strong board confidence in ongoing wafer fabrication equipment cash flows.

Microchip Technology (MCHP)

Microchip Technology fell 6% after hours following mixed forward guidance. The microcontroller and analog chipmaker reported fiscal Q2 EPS of $0.97 (edging out the $0.93 consensus) on revenue of $1.62 billion. However, management forecast Q3 fiscal 2027 EPS of $0.87–$0.95 on revenue of $1.573–$1.638 billion (midpoint $1.605 billion, below the $1.62 billion consensus), pointing to continued inventory digestion among industrial and automotive tier-1 clients.

Applied Optoelectronics (AAOI)

Applied Optoelectronics dropped 8% after issuing soft fourth-quarter revenue guidance. While the fiber-optic networking manufacturer posted adjusted Q3 EPS of $0.17 (beating the $0.14 estimate) on revenue of $269.87 million, management projected Q4 revenue of $385–$420 million, falling short of Wall Street’s $427.3 million consensus expectation due to transceiver component supply bottlenecks.

IREN Limited (IREN)

IREN shares surged 8% in after-hours trading following a third-quarter top-line beat that topped previous internal targets. While the digital infrastructure provider posted a quarterly net loss of $263 million—primarily driven by accelerated depreciation and power infrastructure expansion expenses—revenue came in at $228 million, beating the company’s prior guidance of $221 million. Operational momentum was anchored by its AI Cloud division, which expanded revenue to $200 million as Horizon 1 entered service for Microsoft, driving annualized run-rate revenue and contracted backlog higher.

Axon Enterprise (AXON)

Axon tumbled 14% after missing third-quarter targets and trimming its full-year guidance. The TASER and public safety software developer reported adjusted Q3 EPS of $1.72 (missing the $1.91 consensus) on revenue of $908.55 million versus $940.02 million expected. Management revised full-year 2026 revenue to $3.61–$3.63 billion (below the $3.71 billion analyst target) and lowered adjusted EBITDA to $924–$929 million (trailing the $949.4 million estimate), impacted by procurement delays for federal body-worn camera deployments and fleet software contracts.