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In a recent update, several major companies have reported their second-quarter earnings, with both hits and misses. One such company is Alphabet, the tech giant, which reported earnings of $1.89 per share on $84.74 billion in revenue, beating estimates. However, revenue at its YouTube advertising segment fell short.
Tesla, the electric vehicle maker, saw its shares decline after reporting adjusted earnings per share at 52 cents, below analysts’ expectations. Despite this, Tesla posted $25.5 billion in quarterly revenue, slightly higher than forecasted.
Visa, on the other hand, experienced a slip in shares after reporting a revenue miss in its fiscal third quarter. Despite this, payments volume rose 7% in the quarter.
Seagate, the data storage company, rallied more than 6% after reporting an earnings and revenue beat in the fiscal fourth quarter. The company cited an improving cloud environment for its strong performance.
Capital One Financial, the credit card issuer, saw shares fall about 1% after its second-quarter profit fell from the previous year. The bank attributed this to setting aside more money to offset potential credit losses.
Texas Instruments, the chipmaker, rallied 5% after reporting better-than-expected earnings. The company recorded $1.22 in earnings per share, in line with forecasts.
Mattel, the toymaker, advanced more than 1% after announcing its second-quarter results. The company’s adjusted earnings per share of 19 cents topped estimates, while revenue slightly missed forecasts.
Cal-Maine Foods, the nation’s largest egg producer, saw shares fall 1% as the avian flu outbreak impacted its performance.
Enphase Energy, a solar energy stock, added 5% despite weaker-than-expected second-quarter results. The company’s third-quarter forecast of between $370 million and $410 million in revenue was above analyst estimates.
Chubb, the insurance company, gained nearly 1% after adjusted earnings per share beat consensus estimates.
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