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Earnings: Snap sinks on second-quarter miss, Mattel and Boston Beer Company decline in after-hours

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Yahoo Finance Live check out Snap shares in after-hours trading following its second-quarter earnings miss.

Video Transcript

Before we go to break, let's take a quick look at some of these movers that we have after the bell. SNAP, look at that, shares off just about 25%. That miss on revenue is dragging the stock lower, 1.11 billion lower than what the Street was expecting. Also, announcing plans to slow their hiring.

Boston Beer, you can see, shares off, just about 10% missing on both the top and bottom lines. Also, lowering their forecast, Mattel shares off just about 2%. When you're comparing it to the other couple of movers that we have on the screen, it doesn't look that bad. Top line earnings were actually pretty good. It looks like investors are a little bit worried about gross margins of 44.4%. That was a bit of a decrease.

So, SNAP, Boston Beer, Mattel all reporting after-hours shares off pretty significantly.

And Boston Beer has really turned into the hard seltzer story, which has really seen hard times in recent years. Really skyrocketed and peaked a couple of years ago and has been falling since. And now, demand is almost disappeared. Domestic beer is pretty flat. Craft beer has a little bit of room to go, but it's a tough time.

It certainly is a tough time. We saw the popularity of the seltzers when they first came out. That fizzled, though, real fast. So, they're trying to pivot their business, but not doing it quick enough. At least, for what the Street would like to see.