Tesla, IBM, Alcoa and more
A general view shows the Tesla logo at the Gigafactory in Gruenheide near Berlin, Germany, on August 30, 2022.
Annegret Regards | Reuters
Check the companies that make headlines after working hours.
Tesla — The shares fell 3.7% after the electric car manufacturer reported revenue in the third quarter that was not the analysts’ expectations. Tesla reported earnings of $1.05 per share, compared with expectations of 99 cents in adjusted earnings per share, according to analysts surveyed by Refinitiv. Revenue came in at $21.45 billion, short of expectations of $21.96 billion.
IBM — Shares jumped 3.9% after IBM beat analyst expectations in its third-quarter earnings and raised its outlook for full-year growth. The technology company reported adjusted earnings of $1.81 per share, higher than the $1.77 per share expected by analysts, according to Refinitiv. Revenue came in at $14.11 billion, or more than the $13.51 billion forecast.
Lamb Research — The share rose 2.1% after the semiconductor company exceeded expectations for profit and sales in the last 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.
Child 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 earnings forecasts.
Alcoa — Shares fell 6.9% after the aluminum producer reported a miss on third-quarter results and lowered its 2022 shipment forecasts for alumina and bauxite. Alcoa reported a loss of 33 cents a share, compared with expectations for a gain of 8 cents a share, according to consensus estimates on FactSet. The company reported revenue of $2.85 billion, compared to expectations of $2.96 billion.
