Tesla’s Earnings Fall Short, Stock Climbs Despite Price Cuts
Tesla reported weaker-than-anticipated earnings for the first quarter, sending its stock soaring 6.9% in after-hours trading. The electric vehicle maker posted 45 cents in adjusted earnings per share on $21.3 billion in revenue, below analysts’ expectations of 51 cents and $22.15 billion. Despite the unexpected earnings miss, Tesla’s stock rallied on the news of its new initiative to develop an affordable model.
Mattel Exceeds Expectations, Shares Pop in After-Hours
Mattel’s shares surged 2.4% after the toymaker reported narrower losses per share than expected. The company announced a loss of 5 cents per share in the first quarter, outperforming analysts’ projections of a 12-cent loss. Mattel’s revenue for the three-month period reached $810 million, slightly below Wall Street’s consensus estimate of $832 million.
Texas Instruments Beats Earnings Expectations, Stock Jumps
Texas Instruments’ stock climbed 5.5% in after-hours trading following strong first-quarter earnings. The technology company posted $1.20 per share on $3.66 billion in revenue, exceeding analysts’ predictions of $1.07 and $3.61 billion, respectively. Texas Instruments also provided ranges for current-quarter performance that aligned with analysts’ consensus forecasts.
Visa Reports Better-than-Expected Earnings, Stock Advances
Visa’s stock advanced 3.2% after the company reported better-than-expected earnings. The financial services company posted $2.51 per share, excluding items, on $8.78 billion in revenue. Analysts had anticipated $2.44 per share on $8.63 billion in revenue.
Enphase Disappoints with Earnings, Revenue Outlook, Stock Plummets
Enphase’s stock tumbled 9.2% in after-hours trading after the solar company released its latest earnings report and current-quarter revenue outlook. Enphase reported 35 cents per share on $263 million in revenue in the first quarter, below analysts’ expectations of 40 cents and $280 million. The company projected second-quarter revenue between $290 million and $330 million, lower than the consensus forecast of $349 million.
