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Vladimir Zernov
U.S. Stocks

Tesla

Tesla reported earnings of $0.09 per share, beating analyst estimates by a wide margin despite the fact that March was a challenging month for most companies. Revenue of $5.99 billion was also higher than expected.

During the earnings call, Elon Musk promised to increase investment at times when other auto producers were cutting costs and also criticized shelter-in-place policies, calling them “fascist”.

Tesla shares gained almost 10% in the after-hours trading session and will surely have huge trading volume today. Tesla has already had several profitable quarters in a row which is a very bullish catalyst for a company whose investors eagerly tolerated multi-million losses and kept buying its stock.

Today, Tesla may gain even more ground than in the after-hours session, and a test of all-time high levels is possible.

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Facebook

Facebook reported earnings of $1.71 per share, slightly beating analyst estimates. The revenue of $17.74 billion was also ahead of analyst expectations. Just like Google, Facebook noted that ad revenue plunged in March but also added that it saw signs of stabilization in April.

Not surprisingly, Facebook reported increase in the number of daily active users and monthly active users as people who were forced to stay at home spent their time online.

The original market reaction to Facebook report was positive, and the company’s shares gained about 10% during the after-hours trading session. Just like in Tesla’s case, Facebook shares are close to all-time highs.

Microsoft

Microsoft was another tech giant who reported its earnings on April 29 after the market close and whose stock will be very active today.

The company reported revenue of $35.02 billion and earnings of $1.40 per share, beating analyst estimates on both earnings and revenue.

Microsoft stated that demand for its Teams chat has increased sharply due to the shift to remote work at times of coronavirus pandemic. Xbox gaming services also experienced healthy gains.

At the same time, the company noted that it was not immune to what was happening in the world so some parts of the business will likely suffer in the upcoming quarters.

In general, the report painted a positive picture, and Microsoft shares gained about 2% in the after-hours trading session. Microsoft is also trading not far from all-time highs, and its report could have an impact on the general market which continues to rise on optimism about monetary stimulus and potential treatment for COVID-19.

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