Tesla (TSLA): Shares fell after the company’s third-quarter earnings fell short of Wall Street estimates. Tesla reported adjusted earnings of $1.05 per share on sales of $21.45 billion. The company also confirmed that it still expects to see 50% average annual growth in vehicle deliveries, despite logistics volatility and supply chain bottlenecks.
IBM (IBM): IBM raised its full-year earnings forecast and posted better-than-expected third-quarter results, sending shares up more than 4% in extended trading. Revenue for the third quarter was $1[ads1]4.1 billion with earnings of $1.81 per share. Red Hat revenue rose 12%.
Las Vegas Sands (LVS): The casino giant reported a third-quarter adjusted loss of 27 cents, wider than Street expectations for a loss of 24 cents per share, on revenue of $1.01 billion. In the earnings release, executives noted that travel restrictions and reduced visitation continued to affect their business. Despite the decline, CEO Rob Goldstein remained positive, noting that he is “confident in the recovery of travel and tourism spending.”
Lam Research (LRCX): The semiconductor company’s third-quarter results beat both the top and bottom lines, sending shares higher in after-hours trading. Revenue for the quarter was $5.07 billion, up 9.5% from the previous quarter. CEO Tim Archer noted that “solid execution coupled with light supply chain conditions” helped boost the company’s performance.
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