10 Hours Ago
Tesla records fourth straight earnings miss
Tesla posted weaker-than-expected earnings on Tuesday, marking the electric vehicle maker’s fourth straight earnings miss — the first time for the company.
Earnings came in 17% below consensus in the second quarter, which was its largest earnings miss since January 2021.
Gross margins for Tesla fell to 14.6% in the latest quarter, down by half from 30% in the first quarter of 2022.
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Tesla shares on Tuesday
11 Hours Ago
Stocks making the biggest moves after hours
Check out the companies making headlines in extended trading:
Alphabet — The tech giant slipped 1% despite a beat on both top and bottom lines in the second quarter. Alphabet earned $1.89 per share on $84.74 billion in revenue. Consensus estimates had called for earnings of $1.84 per share on $84.19 billion in revenue. However, revenue at its YouTube advertising segment missed forecasts.
Tesla — Shares of the electric vehicle maker declined 4.7% after second-quarter earnings missed consensus estimates. Tesla reported adjusted earnings per share at 52 cents, while analysts surveyed by LSEG had called for 62 cents per share. On the other hand, the company posted $25.5 billion in quarterly revenue, which was slightly higher than the $24.77 billion estimated by the Street.
Visa — Shares slipped more than 2% after the company posted a revenue miss in its fiscal third quarter. Visa reported $8.9 billion in revenue, which came in slightly below the $8.92 billion forecast by analysts polled by LSEG. Meanwhile, payments volume rose 7% in the quarter.
Seagate — Shares rallied more than 6% after Seagate posted an earnings and revenue beat in the fiscal fourth quarter. Seagate earned $1.05 per share, excluding items, on $1.89 billion in revenue. Analysts surveyed by LSEG had estimated it would earn 75 cents per share on revenue of $1.87 billion. The company cited an improving cloud environment for its stronger performance.
The full list can be found here.
— Hakyung Kim
11 Hours Ago
Stock futures fall Tuesday
U.S. stock futures declined across the board Tuesday night.
S&P 500 futures fell 0.3%. Futures tied to the Nasdaq 100 and Dow Jones Industrial Average dropped 0.4% and 0.2%, respectively.
— Hakyung Kim