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Category: Finance

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Update At: 7/23/2024

Related Sources

Tesla stock is sinking because profits keep shrinking

Tesla's stock fell after the company reported second-quarter earnings that missed expectations, with net income dropping to $1.5 billion. Despite a 2% revenue increase to $25.5 billion, automotive revenue fell by 7%. CEO Elon Musk noted increased competition and incentives to boost sales. Investors remain optimistic about future growth in autonomous vehicles and the upcoming robotaxi unveiling.

Quartz

Stocks slide as disappointing Tesla and Alphabet earnings drag tech lower: Live updates

Stocks fell as quarterly reports from Alphabet and Tesla disappointed investors, leading to declines in major indices. Alphabet's shares dropped over 4% despite beating earnings expectations, while Tesla's shares fell more than 10% due to weaker results. Other tech stocks also experienced losses. Despite this, the overall earnings season has been strong, with a majority of S&P 500 companies exceeding expectations.

CNBC

Stock Market Today: Nasdaq Diving After Tesla, Alphabet Earnings; Dow, S&P 500 Open Down; Nvidia, IBM, AT&T, More Movers; Treasury Yields

Stocks fell after disappointing earnings reports from Alphabet and Tesla, leading to a risk-off sentiment among investors. Major indexes declined, with the Nasdaq leading the losses. Despite some companies performing well, the overall market sentiment reflects uncertainty about the economic and earnings outlook.

Barron's

Tesla shares plummet after company reports falling profits

Tesla shares fell 12% after an earnings report revealed declining profits due to increased competition and sluggish sales. The report indicated two consecutive quarters of profit decline, with revenue from government credits making up a significant portion of profits. Analysts express concerns over demand and the company's ability to regain growth, while some remain optimistic about future developments in autonomous vehicles.

ABC News

Tesla stock sinks after mixed Q2 results, says 'affordable' EVs on track for 2025 debut

Tesla's stock fell over 11% after mixed Q2 results showed lower growth expectations for 2023. Revenue was $25.05 billion, exceeding estimates, but adjusted profits fell short. The company plans to produce new, more affordable EVs by mid-2025 and will unveil its robotaxi on October 10. Despite a drop in deliveries compared to last year, Q2 deliveries improved significantly from Q1, indicating a potential positive shift in demand. Tesla also achieved a record in battery energy storage deployment.

Yahoo Finance

Elon Musk’s Net Worth Falls $16 Billion As Tesla Stock Tanks

Elon Musk's net worth dropped by over $16 billion due to a 12% decline in Tesla's stock price following disappointing earnings reports. This decline affected other billionaires as well, including Bernard Arnault and Mark Zuckerberg. Musk remains the richest person, significantly ahead of Jeff Bezos, despite the losses.

Forbes

Google Stock Is Up 30% This Year. Is It Still a Buy After Earnings?

Alphabet is expected to outperform the market in the long term, as discussed in the analysis of its second-quarter earnings and management comments.

Motley Fool

Chipotle Q2 earnings blow past expectations, boosted by brand loyalty and value proposition

Chipotle reported strong Q2 2024 earnings, surpassing Wall Street estimates with an 18.2% revenue increase to $2.97 billion and an 11.1% rise in same-store sales. CEO Brian Niccol attributed the success to effective brand marketing and the return of Chicken al Pastor. Despite challenges from competitors like McDonald's, analysts remain optimistic about Chipotle's long-term growth strategies, including expanding store hours and targeting Gen Z consumers.

Yahoo Finance

1 Massive Risk Chipotle Faces Today

Chipotle's upcoming earnings report is crucial for investors due to its high valuation and growth potential. Analyst Travis Hoium discusses the associated risks in a video.

The Motley Fool

Why Tesla Stock Just Crashed

Tesla's stock fell 11% after missing earnings forecasts, reporting $0.52 per share instead of the expected $0.62. While sales increased to $25.5 billion, automotive sales dropped 7% year over year. The company's energy division saw growth, but rising operating expenses and shrinking profit margins raise concerns for investors, making the stock less attractive at a high valuation.

Motley Fool