Latest news with #earningsreport
Yahoo
an hour ago
- Automotive
- Yahoo
Tesla shares drop sharply after disappointing second-quarter earnings
Tesla's financial position is getting worse as the fallout continues from CEO Elon Musk's politics. The electric automaker reported Wednesday that both revenue and profits fell in the second quarter of the year compared with a year ago. It's the second straight negative earnings report from the company, which has suffered damage to its brand and become a lightning rod for street demonstrations. While Tesla is still the No. 1 seller of electric vehicles in the United States by a wide margin, the earnings report shows a deteriorating situation with no obvious quick fix for Musk, the world's wealthiest person. On a conference call with analysts, Musk laid out aggressive plans to try to expand Tesla's nascent robotaxi service beyond its limited service area in Austin, Texas. He said he wants to make self-driving Tesla taxis available to half the U.S. population by the end of the year — an extremely ambitious goal that he acknowledged depends on both regulatory approvals and the service's safety record. Tesla's Austin robotaxi service is small and still uses human safety observers in the vehicles, putting Tesla far behind Google spinoff Waymo, the market leader in robotaxis. Musk said the success of the service was critical to the future of Tesla. He said he wanted to focus next on California, Arizona and Florida. 'Autonomy is the story,' he said on the call. The stock price of Tesla dropped sharply Thursday, declining about 8% in morning trading. It is now down more than 36% from its December high. Revenue was $22.5 billion for the three months ending June 30, down 12% from a year ago, while earnings were 40 cents per share, down 23% from a year ago. Tesla said in a note to investors that the quarter was a 'seminal point in Tesla's history: the beginning of our transition from leading the electric vehicle and renewable energy industries to also becoming a leader in AI, robotics and related services.' Musk has angered people across the political spectrum this year, first with his embrace of far-right politics and his chain saw-wielding tenure as an adviser to President Donald Trump and then when he and Trump had a high-profile falling-out. Musk has vowed to start a political party but so far has not followed through in any visible way. The earnings report covers Tesla's finances for April, May and June — a period that overlapped with Musk's tenure in the White House. Musk left his government job May 30. Tesla had already warned this month that vehicle deliveries were sagging, down 14% in the second quarter from a year ago. It was the second straight quarter of falling deliveries as Tesla faces not only damage to its brand but also increasing competition, including from Chinese electric vehicle makers. Musk has tried to keep shareholders happy with developments on other fronts, including by trying to launch a robotaxi service in Austin. Musk has also hyped humanoid assistants as a future potential Tesla product, but none have shipped. On Monday, Tesla opened a diner and drive-in in West Hollywood, California. Musk talked up the diner — and threw some shade toward Los Angeles — on the conference call Wednesday. 'It's sort of a shiny beacon of hope in an otherwise bleak urban landscape,' he said. Musk and Vaibhav Taneja, who is Tesla's chief financial officer, declined on the conference call to provide many details about how the Austin robotaxi service is going. Taneja said in response to an analyst's question that the service has a 'handful of vehicles right now' and that it had 7,000 miles of operating experience. That comes out to about 226 miles per days since the June 22 service launch. Musk's companies are increasingly intertwined. He merged his social media app, X, with his AI startup, xAI, in March, and his rocket company, SpaceX, is an investor in xAI. This month, Tesla began integrating xAI's chatbot, Grok, into Tesla vehicles, days after Grok went on neo-Nazi tirades. Musk has said that while he does not support merging Tesla and xAI, he will put a potential Tesla investment into the company up for a shareholder vote. Wall Street analysts had expected Tesla revenue of $22.74 billion and earnings per share of 43 cents, according to an average of estimates compiled by LSEG. Musk is deeply unpopular with the American public, with 58% having unfavorable views of him and 33% having favorable views, according to a polling average run by statistics writer Nate Silver. And more protests are on the horizon. 'Tesla Takedown' demonstrations continue to happen weekly, and more than 30 such protests are planned for this weekend, according to a public schedule of the events. A demonstration is scheduled for Saturday at the newly opened Tesla Diner. Tesla Takedown, an organization behind many of the protests, took note of the poor financial results Wednesday and said the company is overvalued. 'Sooner or later, investors will wake up to the truth: Tesla is nothing but smoke, mirrors, and missed deadlines,' the group said in an emailed statement. Tesla also faces legal and regulatory headwinds. In Miami and Oakland, California, two separate legal proceedings are examining whether Tesla overstated the capabilities of its driver-assistance software programs, which the company calls Autopilot and Full Self-Driving. Regulators with the National Highway Traffic Safety Administration are also investigating Tesla's Full Self-Driving systems and whether they are safe to use in fog and other situations with reduced visibility. The Trump administration has created additional challenges for Tesla by imposing unpredictable tariffs and eliminating environmental regulatory credits, a crucial source of revenue for Tesla. This article was originally published on Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
7 hours ago
- Business
- Yahoo
Borr Drilling Limited - Invitation to webcast and conference call Q2 2025 results
HAMILTON, Bermuda, July 24, 2025 /PRNewswire/ -- Borr Drilling Limited (NYSE: BORR) plans to release its financial results for the second quarter 2025 after the close of the New York Stock Exchange on Wednesday 13 August, 2025. A conference call and webcast is scheduled for 9:00 AM New York Time (15:00 CET) on Thursday 14 August, 2025 and participants are encouraged to dial in 10 minutes before the start of the call. The earnings report, webcast and accompanying presentation will be available from the Investor Relations section on In order to listen to the presentation, you may also do one of the following: a) Webcast To access the webcast, please go to the following link: b) Conference Call Please use the below link to register for the conference call, Participants will then receive dial-in details on screen and via email and can then choose to dial in with their unique pin or select "Call me" and provide telephone details for the system to link them automatically. Replay Stream: When the call is complete, participants can stream the replay of the call by clicking this link CONTACT: Questions should be directed to: Magnus Vaaler, CFO, +44 1224 289208 This information was brought to you by Cision Borr Drilling Limited – Invitation to webcast and conference call Q2 2025 results Borr Drilling Limited (NYSE: BORR) plans to release its financial results for the second quarter News Powered by Cision View original content: SOURCE Borr Drilling Limited Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13 hours ago
- Business
- Yahoo
Bruker Corp. (BRKR) Dismal Q2 Earnings Weighs On Sentiment
We recently published . Bruker Corporation (NASDAQ:BRKR) is one of the biggest losers on Monday. Bruker Corp. dropped its share prices by 12.12 percent on Monday to end at $35.63 apiece following the announcement of disappointing preliminary results for the second quarter of the year. In a statement, Bruker Corporation (NASDAQ:BRKR) said that revenues during the period were expected to settle at $795 million to $798 million, which suggests a flat performance from the same period last year. Second quarter 2025 bookings reflected weak academic demand, as well as softness in the US biopharma market. Non-GAAP earnings per share were also expected to settle between $0.32 and $0.34, representing a $0.19 per share decline year-over-year, including a $0.06 foreign currency headwind. A scientist in a laboratory wearing safety gear while operating a mass spectrometry machine. Following the release, investment firm Stifel maintained its 'hold' recommendation for its stock with a price target of $48, or a 34.7-percent upside from its latest closing price. Bruker Corporation (NASDAQ:BRKR) said official results are scheduled for release before market open on August 4, 2025. While we acknowledge the potential of BRKR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
Yahoo
16 hours ago
- Automotive
- Yahoo
Tesla continues its financial downturn even after Elon Musk's White House exit
Tesla's financial position is getting worse as the fallout continues from CEO Elon Musk's politics. The electric automaker reported Wednesday that both revenue and profits fell in the second quarter of the year compared with a year ago. It's the second straight negative earnings report from the company, which has suffered damage to its brand and become a lightning rod for street demonstrations. While Tesla is still the No. 1 seller of electric vehicles in the United States by a wide margin, the earnings report shows a deteriorating situation with no obvious quick fix for Musk, the world's wealthiest person. On a conference call with analysts, Musk laid out aggressive plans to try to expand Tesla's nascent robotaxi service beyond its limited service area in Austin, Texas. He said he wants to make self-driving Tesla taxis available to half the U.S. population by the end of the year — an extremely ambitious goal that he acknowledged depends on both regulatory approvals and the service's safety record. Tesla's Austin robotaxi service is small and still uses human safety observers in the vehicles, putting Tesla far behind Google spinoff Waymo, the market leader in robotaxis. Musk said the success of the service was critical to the future of Tesla. He said he wanted to focus next on California, Arizona and Florida. 'Autonomy is the story,' he said on the call. Shares in Tesla fell 2% in after-hours trading as Musk spoke. Revenue was $22.5 billion for the three months ending June 30, down 12% from a year ago, while earnings were 40 cents per share, down 23% from a year ago. Tesla said in a note to investors that the quarter was a 'seminal point in Tesla's history: the beginning of our transition from leading the electric vehicle and renewable energy industries to also becoming a leader in AI, robotics and related services.' Musk has angered people across the political spectrum this year, first with his embrace of far-right politics and his chain saw-wielding tenure as an adviser to President Donald Trump and then when he and Trump had a high-profile falling-out. Musk has vowed to start a political party but so far has not followed through in any visible way. The earnings report covers Tesla's finances for April, May and June — a period that overlapped with Musk's tenure in the White House. Musk left his government job May 30. Tesla had already warned this month that vehicle deliveries were sagging, down 14% in the second quarter from a year ago. It was the second straight quarter of falling deliveries as Tesla faces not only damage to its brand but also increasing competition, including from Chinese electric vehicle makers. Musk has tried to keep shareholders happy with developments on other fronts, including by trying to launch a robotaxi service in Austin. Musk has also hyped humanoid assistants as a future potential Tesla product, but none have shipped. On Monday, Tesla opened a diner and drive-in in West Hollywood, California. Musk talked up the diner — and threw some shade toward Los Angeles — on the conference call Wednesday. 'It's sort of a shiny beacon of hope in an otherwise bleak urban landscape,' he said. Musk and Vaibhav Taneja, who is Tesla's chief financial officer, declined on the conference call to provide many details about how the Austin robotaxi service is going. Taneja said in response to an analyst's question that the service has a 'handful of vehicles right now' and that it had 7,000 miles of operating experience. That comes out to about 226 miles per days since the June 22 service launch. Musk's companies are increasingly intertwined. He merged his social media app, X, with his AI startup, xAI, in March, and his rocket company, SpaceX, is an investor in xAI. This month, Tesla began integrating xAI's chatbot, Grok, into Tesla vehicles, days after Grok went on neo-Nazi tirades. Musk has said that while he does not support merging Tesla and xAI, he will put a potential Tesla investment into the company up for a shareholder vote. Wall Street analysts had expected Tesla revenue of $22.74 billion and earnings per share of 43 cents, according to an average of estimates compiled by LSEG. Musk is deeply unpopular with the American public, with 58% having unfavorable views of him and 33% having favorable views, according to a polling average run by statistics writer Nate Silver. And more protests are on the horizon. 'Tesla Takedown' demonstrations continue to happen weekly, and more than 30 such protests are planned for this weekend, according to a public schedule of the events. A demonstration is scheduled for Saturday at the newly opened Tesla Diner. Tesla Takedown, an organization behind many of the protests, took note of the poor financial results Wednesday and said the company is overvalued. 'Sooner or later, investors will wake up to the truth: Tesla is nothing but smoke, mirrors, and missed deadlines,' the group said in an emailed statement. Tesla also faces legal and regulatory headwinds. In Miami and Oakland, California, two separate legal proceedings are examining whether Tesla overstated the capabilities of its driver-assistance software programs, which the company calls Autopilot and Full Self-Driving. Regulators with the National Highway Traffic Safety Administration are also investigating Tesla's Full Self-Driving systems and whether they are safe to use in fog and other situations with reduced visibility. The Trump administration has created additional challenges for Tesla by imposing unpredictable tariffs and eliminating environmental regulatory credits, a crucial source of revenue for Tesla. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
Jim Cramer on Bank of America: 'I Can't Get Excited About It'
Bank of America Corporation (NYSE:BAC) is one of the stocks Jim Cramer reflected on. While discussing the firm's earnings report, Cramer noted that it posted the weakest earnings among the major banks. 'Bank of America reported a good quarter, but it was the weakest of the four majors. While the bank managed a bottom-line beat, it was the only one of the four that missed on the top line, thanks to a nasty net interest income miss. But it wasn't that big a miss. That said, Bank of America managed to maintain its full-year net interest income forecast, which helped blunt the impact of the miss, and why the stock didn't get hit that much. I was a tad disappointed with BofA's markets and banking segments, both of which fell short of expectations. In a quarter with so much volatility, their sales and trading business should have been printing money, but it didn't happen. The company shares had already declined nearly 2% yesterday, fell a little bit more today. I don't know, I can't get excited about it, I guess.' Pixabay/Public Domain Bank of America (NYSE:BAC) provides financial services, including consumer banking, credit, investment management, lending, treasury solutions, and trading across multiple asset classes. While we acknowledge the potential of BAC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
