Shares fell 8.6% in premarket trading after the electric car maker’s announcement. Second Quarter Profit Tesla missed analysts’ expectations but beat revenue estimates. Adjusted earnings per share were 52 cents, missing expectations of 61 cents and down from 91 cents in the year-ago quarter. Tesla’s profits have fallen for the second straight quarter. Operating margins for the quarter were 6.3%, below expectations of 8%.
Share prices of other EV manufacturers also fell.
It fell 4.6%
It decreased by 3.3%.
Second-quarter earnings per share were $1.89.beat analysts’ estimates of $1.85 per share, and revenue of $84.74 billion beat the $84.3 billion forecast. Alphabet’s second-quarter cloud revenue topped $10 billion for the first time, up from $8 billion a year ago. Advertising revenue rose 11.1%, slowing from a 13% increase in the first quarter. The company continued to make heavy capital investments in its cloud and artificial intelligence systems. Capital expenditures in the second quarter were $13.2 billion, up from $12 billion in the first quarter and below $7 billion by June 2023. Shares of Alphabet, the parent company of Google and YouTube, fell 4.5%.
Advertisement – Scroll to continue
Down 3% to $118.91 Following Alphabet’s earnings report, which saw a surge in capital spending, particularly related to AI, the company tempered expectations by keeping its spending guidance for the rest of the year unchanged.
reported Net telephone subscriber numbers exceed expectations for second consecutive quarterMeanwhile, total revenue was slightly below Wall Street expectations. The carrier said it added 419,000 net postpaid phones, up from 349,000 in the first quarter and well above analysts’ expectations of 284,800. Shares rose 2.9%.
report Third quarter adjusted profit Revenue, at $8.9 billion, was in line with expectations but slightly below. Payment volume increased 7% and processed transactions increased 10% in the period, down from an 8% increase in overall payment volume and an 11% increase in processed transactions in the second quarter. Shares of the credit card company fell 3.7%.
Semiconductor companies are Second Quarter Profit Earnings per share were $1.22, including a 5-cent gain from unexpected items. Excluding that gain, earnings for the period were roughly in line with Wall Street expectations. Revenue fell 16% to $3.82 billion but was in line with expectations.
Advertisement – Scroll to continue
The company now expects third-quarter sales of $3.94 billion to $4.26 billion, compared with analysts’ expectations of $4.12 billion. Shares rose 1.9%.
Hard disk drive maker Apple Inc. shares rose 3.5% after the company reported fourth-quarter profit and sales that beat Wall Street expectations. The company said it expects first-quarter fiscal 2025 sales of $2.1 billion, plus or minus $150 million.
of Second quarter adjusted profit The results fell short of expectations, and revenue of $304 million also missed expectations.Shares of Enphase, a maker of microinverter systems for solar panels, rose 2.3% after the company said it now expects third-quarter sales of $370 million to $410 million, compared with an estimate of $404 million.
Shares of the frozen potato products maker fell 16% after the company reported fourth-quarter profits that fell far short of analysts’ expectations. The company reported adjusted earnings of 78 cents a share, well below expectations of $1.26.
The company is scheduled to report earnings after the close of trading on Wednesday.
International Business Machines
,
and
Advertisement – Scroll to continue
IBM fell 0.4%. Second Quarter Earnings Report The announcement is expected after the close of trading on Wednesday. Wall Street expects IBM to report second-quarter adjusted earnings of $2.18 per share on revenue of $15.62 billion.
Send an email to Joe Woelfel email address
