Earnings after the close led by Alphabet and Tesla. Tesla misses. Alphabet beats

Visa Inc (V) Q3 2024 (USD): Shares are trading down -2.11% after the close.

• Adj. EPS: $2.51 (exp. $2.43) BEAT
• Revenue: $8.9B (exp. $8.89B) BEA

Tesla Inc (TSLA) Q2 2024 (USD): Shares are trading down -5.22% after trading down -2.04% during the day today

• Adj. EPS: $0.52 (exp. $0.62) MISS
• Revenue: $25.5B (exp. $24.77B) BEAT

Tesla’s focus remains on company-wide cost reduction, while plans for new vehicles stay on track. The energy storage business continues to grow rapidly, setting a record in Q2 with 9.4GWh of deployments. The company saw a sequential rebound in deliveries in Q2 due to improved consumer sentiment and expects a sequential increase in production in Q3 after a decline in Q2. However, they project that 2024 vehicle growth rate may be lower than 2023 levels, and the new vehicles approach will result in less cost reduction than previously expected. The robo-taxi will also be delayed

Alphabet Inc (GOOGL) Q2 2024 (USD): Shares of Alphabet are down -0.38% in after hours trading.

• EPS: $1.89 (exp. $1.84) BEAT
• Revenue: $84.742B (exp. $84.18B) BEAT
  • Google Advertising Revenue: $64.6B (exp. $64.4B) BEAT
  • Google Cloud Revenue: $10.35B (exp. $10.158B) BEAT
  • Google Search & Other Revenue: $48.51B (exp. $47.65B) BEAT
  • YouTube Ads Revenue: $8.66B (exp. $8.9B) MISS
  • Google Network Revenue: $7.44B (exp. $7.87B) MISS
  • Google Subscriptions, Platforms and Devices Revenue: $9.31B (exp. $9.38B) MISS
  • Google Services Revenue: $73.93B (exp. $73.58B) BEAT

Texas Instruments Inc (TXN) Q2 2024 (USD): Shares are trading up 3.99% in after-hours trading. In. Today the price fell -3.69%

• EPS: $1.22 (exp. $1.17) BEAT
• Revenue: $3.82B (exp. $3.82B) MET

This article was written by Greg Michalowski at www.forexlive.com.