U.S. tech earnings season just opened, and Tesla, Alphabet, and IBM fired the first shots

The post U.S. tech earnings season just opened, and Tesla, Alphabet, and IBM fired the first shots appeared on BitcoinEthereumNews.com. U.S. tech earnings season just opened, and Tesla, Alphabet, and IBM fired the first shots. The numbers, reported Wednesday and compiled by LSEG, show a shaky start for one, confident bets from another, and unexpected strength from the third. Together, they set the tone for the rest of the week, as investors dig through every line looking for direction. Tesla came in first, and the news wasn’t great. The company said its automotive revenue dropped 16% from the same period last year. Sales fell for the second quarter in a row, and again came in lower than Wall Street estimates. Adjusted earnings per share landed at 40 cents, just under the 43 cents analysts were expecting. Total revenue hit $22.50 billion, short of the $22.74 billion forecast. Tesla’s numbers weaken as political fallout hits sales Auto revenue for the second quarter came in at $16.7 billion, down from $19.9 billion a year earlier. Tesla also saw a sharp cut in revenue from selling auto regulatory credits, pulling in $439 million, compared to $890 million the year before. Earlier this month, the company had already reported a 14% decline in vehicle deliveries year-over-year, totaling 384,000 for Q2. Those deliveries aren’t clearly defined, but they’re the closest thing Tesla reports to electric vehicle sales. The company’s net income dropped to $1.17 billion, or 33 cents per share, down from $1.4 billion, or 40 cents, last year. But the numbers are only part of the story. The company has been facing major backlash in both the U.S. and Europe. At the center of it is Elon Musk, who’s been heavily involved in politics this year. Musk donated large amounts to support President Donald Trump’s reelection, endorsed Germany’s far-right AfD party, and then joined Trump’s administration to lead the new Department of Government Efficiency…

Jul 24, 2025 - 04:00
 0  0
U.S. tech earnings season just opened, and Tesla, Alphabet, and IBM fired the first shots

The post U.S. tech earnings season just opened, and Tesla, Alphabet, and IBM fired the first shots appeared on BitcoinEthereumNews.com.

U.S. tech earnings season just opened, and Tesla, Alphabet, and IBM fired the first shots. The numbers, reported Wednesday and compiled by LSEG, show a shaky start for one, confident bets from another, and unexpected strength from the third. Together, they set the tone for the rest of the week, as investors dig through every line looking for direction. Tesla came in first, and the news wasn’t great. The company said its automotive revenue dropped 16% from the same period last year. Sales fell for the second quarter in a row, and again came in lower than Wall Street estimates. Adjusted earnings per share landed at 40 cents, just under the 43 cents analysts were expecting. Total revenue hit $22.50 billion, short of the $22.74 billion forecast. Tesla’s numbers weaken as political fallout hits sales Auto revenue for the second quarter came in at $16.7 billion, down from $19.9 billion a year earlier. Tesla also saw a sharp cut in revenue from selling auto regulatory credits, pulling in $439 million, compared to $890 million the year before. Earlier this month, the company had already reported a 14% decline in vehicle deliveries year-over-year, totaling 384,000 for Q2. Those deliveries aren’t clearly defined, but they’re the closest thing Tesla reports to electric vehicle sales. The company’s net income dropped to $1.17 billion, or 33 cents per share, down from $1.4 billion, or 40 cents, last year. But the numbers are only part of the story. The company has been facing major backlash in both the U.S. and Europe. At the center of it is Elon Musk, who’s been heavily involved in politics this year. Musk donated large amounts to support President Donald Trump’s reelection, endorsed Germany’s far-right AfD party, and then joined Trump’s administration to lead the new Department of Government Efficiency…

What's Your Reaction?

like

dislike

love

funny

angry

sad

wow