Last night’s U.S. stock earnings “reveal”: Meta posted record revenue and Tesla’s cash flow went through the roof, but after-hours trading went both ways
The two biggest earnings reports of the season landed at the same time last night. Meta reported third-quarter revenue of $64.6 billion, up 26% year over year, and EPS of $3.83 (versus the $3.45 market estimate). It raised its fourth-quarter revenue guidance to $73–76 billion and announced a 2-for-1 stock split. The cost: Reality Labs lost another $4.13 billion, and its full-year AI capital expenditure guidance is $135–145 billion. Shares rose about 3% after hours, as Wall Street is, for now, willing to pay for its AI spending spree.
Tesla’s revenue of $28.05 billion and adjusted EPS of $0.48 both beat expectations. The standout was free cash flow of $1.53 billion—versus market expectations for a $4.99 billion deficit—turning positive outright. Gross margin rose from 16.8% to 19.6%; FSD subscriptions were up 67% year over year to 1.74 million; and autonomous robotaxi miles increased eightfold quarter over quarter to nearly 2 million. Optimus has also started work on the mass-production line in Fremont. But after initially surging after hours, the stock pulled back, down about 3.3% as of 8 p.m. ET.
The Nasdaq closed up 1.05% last night. This morning, BTC held above 84,000, the Fear & Greed Index returned to greed territory at 68, and spot BTC ETFs posted net inflows for a second straight day. AI is still burning cash, but BTC caught a bit of the risk-asset momentum. Now the question is whether that momentum can last.
$BTC #StockEarningsSeason
The two biggest earnings reports of the season landed at the same time last night. Meta reported third-quarter revenue of $64.6 billion, up 26% year over year, and EPS of $3.83 (versus the $3.45 market estimate). It raised its fourth-quarter revenue guidance to $73–76 billion and announced a 2-for-1 stock split. The cost: Reality Labs lost another $4.13 billion, and its full-year AI capital expenditure guidance is $135–145 billion. Shares rose about 3% after hours, as Wall Street is, for now, willing to pay for its AI spending spree.
Tesla’s revenue of $28.05 billion and adjusted EPS of $0.48 both beat expectations. The standout was free cash flow of $1.53 billion—versus market expectations for a $4.99 billion deficit—turning positive outright. Gross margin rose from 16.8% to 19.6%; FSD subscriptions were up 67% year over year to 1.74 million; and autonomous robotaxi miles increased eightfold quarter over quarter to nearly 2 million. Optimus has also started work on the mass-production line in Fremont. But after initially surging after hours, the stock pulled back, down about 3.3% as of 8 p.m. ET.
The Nasdaq closed up 1.05% last night. This morning, BTC held above 84,000, the Fear & Greed Index returned to greed territory at 68, and spot BTC ETFs posted net inflows for a second straight day. AI is still burning cash, but BTC caught a bit of the risk-asset momentum. Now the question is whether that momentum can last.
$BTC #StockEarningsSeason