After-hours movers:

Fortinet (FTNT): Up 17% The cybersecurity firm surged after posting a significant EPS beat of $0.82 and raising its full-year revenue guidance to a high of $7.87 billion. Investors reacted favorably to the company's optimistic outlook, which comfortably exceeded analyst expectations across the board.

DoorDash (DASH): Up 11% DoorDash shares climbed after reporting a Q1 EPS beat of $0.42, despite quarterly revenue coming in slightly below consensus estimates. The market focused on the positive earnings surprise and a healthy Q2 EBITDA outlook of up to $870 million.

Arm Holdings (ARM): Up 10% The chip designer rallied following a Q4 beat on both top and bottom lines and a revenue forecast for the upcoming quarter that topped estimates. Strong demand for AI-related architecture continues to drive momentum, resulting in double-digit after-hours gains.

Snap (SNAP): Down 2% Snap saw a modest decline despite beating Q1 expectations for both revenue and earnings per share. The drop suggests investor caution regarding the company’s Q2 revenue guidance, which sits right in line with consensus but fails to signal accelerated growth.

AppLovin (APP): Down 2% AppLovin shares are in focus after the company posted a Q1 EPS of $3.56, beating the $3.42 consensus on stronger-than-expected revenue of $1.84 billion. The company’s momentum looks set to continue with Q2 revenue guidance of up to $1.95 billion, moving well past analyst projections.

Dutch Bros (BROS): Down 3% The coffee chain dipped slightly after reporting a narrow $0.01 EPS beat and raising its full-year revenue guidance. While the fundamentals remained solid, the update wasn't enough to sustain positive momentum in a volatile after-hours session.

Coherent (COHR): Down 7% Coherent fell despite meeting earnings estimates and providing a Q4 outlook that actually trended above consensus. The sell-off indicates that investors may have been looking for a more aggressive beat to justify current valuations.

Alpha & Omega Semiconductor (AOSL): Down 20% AOSL shares plunged after the company reported a Q3 EPS loss of ($0.28), which was significantly wider than the ($0.13) loss analysts had expected. Despite a slight revenue beat, the market reacted poorly to the earnings miss and a cautious Q4 outlook regarding gross margins and operating expenses

Fastly (FSLY): Down 24% Fastly plummeted nearly a quarter of its value despite reporting beats on both earnings and revenue for the first quarter. The massive sell-off highlights a severe disconnect between the company's reported growth and high market expectations for the cloud platform.