The NASDAQ reached a new high above 23,394, driven by strong earnings from Alphabet, which exceeded revenue and EPS expectations. Alphabet's revenue totaled $96.43 billion, surpassing the forecast of $94 billion. The company's YouTube ad revenue and Google Cloud revenue also outperformed estimates, underscoring their successful performance and strategic investments. Conversely, Tesla reported a significant quarterly sales decline, with revenue dropping to $22.5 billion. Analysts expressed mixed views, with some lowering Tesla's price target, indicating potential challenges ahead for the company in light of expiring tax credits.
NASDAQ reached a new high above 23,394, with Alphabet outperforming expectations in both revenue and EPS. Alphabet's revenue was reported at $96.43 billion, exceeding the $94 billion prediction.
YouTube ad revenue significantly surpassed expectations at $9.8 billion, and Google Cloud revenue reached $13.62 billion, above estimates of $13.11 billion, highlighting strong performance.
Tesla's quarterly sales hit a decline, with revenue falling 12% and EPS coming in below estimates. Musk indicated potential rough quarters ahead due to expiring tax credits.
Analysts' forecasts are mixed; Wells Fargo lowered their price target for Tesla to $120, voicing concerns over growth in robotaxis and the Optimus humanoid.
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