Tesla, IBM, Alcoa and more

A general view shows the Tesla logo on the Gigafactory in Gruenheide near Berlin, Germany, August 30, 2022.

Annegret Hilse | Reuters

Check out the companies making headlines after hours.

Tesla — Shares dropped 3.7% after the electric vehicle maker reported third-quarter revenue that missed analyst expectations. Tesla reported earnings of $1.05 per share, compared with expectations of 99 cents adjusted earnings per share, according to analysts surveyed by Refinitiv. Revenue came in at $21.45 billion, less than the $21.96 billion expected.

IBM — Shares jumped 3.9% after IBM beat analyst expectations in its third-quarter earnings results and raised its full-year growth outlook. The tech company reported adjusted earnings of $1.81 per share, greater than the $1.77 per share expected by analysts, according to Refinitiv. Revenue came in at $14.11 billion, or more than the forecasted $13.51 billion.

Lam Research — The stock rose 2.1% after the semiconductor company surpassed profit and sales expectations in its most recent quarter. Lam Research reported adjusted earnings of $10.42 per share on revenue of $5.07 billion. Analysts expected earnings of $9.54 per share on revenue of $4.91 billion, according to Refinitiv.

Kinder Morgan — Shares fell 1.8% after the oil and gas pipeline operator reported third-quarter earnings results that fell short of earnings per share expectations, according to consensus estimates on FactSet. Kinder Morgan otherwise beat on revenue forecasts.

Alcoa — Shares dropped 6.9% after the aluminum producer reported a miss on third-quarter results, and lowered its 2022 shipment projections for alumina and bauxite. Alcoa reported a loss of 33 cents per share, compared to expectations of a gain of 8 cents per share, according to consensus estimates on FactSet. The company reported revenue of $2.85 billion, compared with expectations of $2.96 billion.

Source link

Share with your friends!

Products You May Like

Get the latest stocks updates
straight to your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.