Netflix — Shares of the streaming giant soared 12% after beating Wall Street’s expectations for profits in the third quarter. Netflix notched $3.73 per share on $8.54 billion in revenue while analysts polled by LSEG, formerly known as Refinitiv, forecast earnings of $3.49 per share and revenue of $8.54 billion. The company also reported stronger-than-expected subscriber growth of 8.76 million in the quarter. Analysts called for the streaming giant to add 5.49 million subscribers, per Street Account.
Tesla — Stock in the electric vehicle maker ticked up 1.4%, even after the company posted a third-quarter miss on the top and bottom lines. Tesla reported adjusted earnings of 66 cents per share on $23.35 billion in revenue while analysts polled by LSEG called for earnings of 73 cents per share and $24.10 billion of revenue. Margins also declined from the year-ago period, the company said.
Zions Bancorporation — Shares fell 4% after the regional bank posted an earnings miss. Zions reported earnings of $1.13 per share in the third quarter, while analysts surveyed by LSEG expected $1.15 per share. Net interest income was $585 million, down 12% from the year-ago period.
Las Vegas Sands — The casino and resort stock added 5% on the heels of a third-quarter revenue beat. The company reported $2.8 billion in revenue against analysts’ estimates of $2.73 billion, per LSEG. Adjusted earnings were in line with the Street’s expectations, coming in at 55 cents per share.
Lam Research — Shares of the semiconductor stock pulled back about 3%. The decline comes even after Lam Research’s fiscal first-quarter results beat on the top and bottom lines. The company reported an adjusted $6.85 per share on $3.48 billion in revenue while analysts polled by LSEG forecast earnings of $6.12 per share and revenue of $3.41 billion.
