Tesla (TSLA): Shares dropped after the company’s third-quarter revenue fell short of Wall Street estimates. Tesla reported adjusted earnings of $1.05 per share on sales of $21.45 billion. The company also reaffirmed that it still expects to see 50% average annual growth rate on vehicle deliveries, despite logistics volatility and supply chain bottlenecks.
IBM (IBM): IBM boosted its full-year revenue forecast and posted better than expected third-quarter results, sending shares up more than 4% in extended trading. Revenue for the third quarter totaled $14.1 billion on 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 the street’s expectations for a 24 cent a share loss, on revenue of $1.01 billion. In the earnings release, executives noted that travel restrictions and reduced visitation continued to impact their business. Despite the slowdown, CEO Rob Goldstein remained positive, noting that he’s ‘confident in the recovery of travel and tourism spending.
Lam Research (LRCX): The semiconductor company’s third quarter results beat on both the top and bottom lines, sending shares higher in after-hours trading. Revenue for the quarter totaled $5.07 billion, up 9.5% from the previous quarter. CEO Tim Archer noted that “solid execution combined with easing supply chain conditions” helped boost the company’s results.