Tesla
— Shares slid 3.6% after the electric vehicle maker said income and GAAP earnings tumbled more than 20% from the same quarter a year ago. Adjusted earnings per share were in line with Refinitiv’s consensus estimate, while revenue was ahead of expectations at $23.33 billion compared with the expected $23.21 billion. Competitor Rivian
was down 0.7% following news that the company has increased and extended its credit facility. Lucid
, which is focused on luxury electric vehicles, slipped 0.1% after hours.
Las Vegas Sands
— The stock rose 4.3% after the casino and resort company issued quarterly results. Las Vegas Sands posted adjusted earnings of 28 cents per share in the first quarter, a larger gain than the 20 cent consensus estimate of analysts polled by Refinitiv. The company also beat expectations for revenue, reporting $2.12 billion compared with the $1.85 billion estimate. Wynn Resorts
gained 3%.
IBM
— Shares of the technology service company advanced 2.3% after hours following a mixed first-quarter earnings report. The company reported adjusted earnings per share of $1.36, beating the consensus estimate of analysts polled by Refinitiv by 10 cents. But IBM’s $14.25 billion in quarterly revenue was under the $14.35 billion figure anticipated by Wall Street.
Lam Research
— The maker of semiconductor equipment slid 0.7% after giving weak guidance. For its fiscal fourth quarter, the company anticipates adjusted earnings of $5 per share and $3.1 billion in revenue. Consensus estimates from Refinitiv show Wall Street expects $5.63 in earnings per share and $3.47 billion in revenue. That guidance overshadowed Lam’s performance in its third fiscal quarter, when it beat expectations on the top and bottom lines.
Zions Bancorporation
— Shares dropped 4% after the regional bank reported lower-than-expected earnings for the first quarter. Zions reported earnings per share of $1.33, falling short of analysts’ expectations of $1.53, according to Refinitiv. The bank also reported $679 million in net interest income, while analysts forecasted $687.5 million, per StreetAccount. Zions had rallied on Wednesday, gaining 7.4% during the day’s trading session, as shares of several other regional banks were lifted amid reports that show deposits are stabilizing after the banking crisis last month.
