Tesla (NASDAQ:TSLA) Q2 Adjusted Earnings, Revenue Rise

/ / Consumer Discretionary /

Tesla (NASDAQ:TSLA) reported fiscal Q2 adjusted earnings of $0.91 per diluted share, up from $0.76 a year earlier. Analysts polled by Capital IQ expected $0.82. Revenue for the quarter ended June 30 was $24.93 billion, up from $16.93 billion a year earlier. Analysts surveyed by Capital IQ expected $24.73 billion. For fiscal 2023, the automaker said it expects to remain ahead of the long-term 50% compound annual growth rate in production with about 1.8 million vehicles.

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IBM (NYSE:IBM) Q2 Non-GAAP Earnings, Revenue Fall

/ / Technology /

IBM (NYSE:IBM) reported Q2 non-GAAP EPS Wednesday of $2.18, down from $2.31 a year earlier. Analysts surveyed by Capital IQ expected $2.0. Revenue for the quarter ended June 30 was $15.48 billion, down from $15.54 billion a year earlier. Analysts surveyed by Capital IQ expected $15.57 billion. The company said it expects full-year 2023 revenue growth of 3% to 5% on a constant currency basis, unchanged from the previous outlook.

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Alcoa (NYSE:AA) Swings to Loss in Q2, Revenue Falls

/ / Basic Materials /

Alcoa (NYSE:AA)  reported a Q2 adjusted loss per share of $0.35, swinging from a profit of $2.67 a share a year ago. Analysts surveyed by Capital IQ expected a normalized loss of $0.47. Revenue for the quarter ended June 30 was $2.68 billion, down from $3.64 billion last year. Analysts polled by Capital IQ expected $2.74 billion. For Q3, the company expects a net improvement of $25 million in Aluminum Segment adjusted EBITDA on favorable raw materials and lower production costs, partially offset by unfavorable value add aluminum products sales. For 2023, the company expects total alumina and aluminum shipments to remain unchanged between 12.7 metric tons and 12.9 million metric tons and between 2.5 metric tons and 2.6 million metric tons, respectively.

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