Apple shares slide; Pandora earnings disappoint; Chipotle sales sink

Seana Smith
·Host

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Apple (AAPL) – The tech giant topped analysts’ estimates of earnings per share and iPhones sold, but investors expected a more optimistic forecast for iPhone sales. Another concern for Apple is China, where its revenue declined 17% in this fiscal year, prompting analysts to raise questions about demand in the region on the earnings call.

Chipotle (CMG) – The Mexican food chain missed analyst estimates in the third quarter as same-store sales sank nearly 22% from one year ago. The weak earnings is a sign that Chipotle’s promotions and rewards program are not doing enough to win back customers following the chain’s health issues last year.

Pandora (P) – The music streaming service cut its full-year revenue forecast and reported lower than expected third-quarter results. Pandora reported that total active listeners fell to 77.9 million from 78.1 million.

Garmin (GRMN) – The company topped earnings estimates on both the top and bottom lines in the third quarter and raised its full-year revenue guidance. Gamrin reported a 6% climb in revenue, driven by strong results in fitness and outdoor revenues.

GrubHub (GRUB) – The online food order and delivery company posted better-than-expected quarterly revenue and issued a revenue forecast for the current quarter of $136 million to $138 million, above analysts’ average estimate of $136.2 million. GrubHub reported a jump in active diners, rising 19.5% to 7.7 million.