TSLA & NFLX Earnings
The first two big name stocks to report 3Q23 earnings were Tesla (TSLA) and Netflix (NFLX) on Wednesday afternoon. TSLA’s numbers looked weak to me with revenue growth of just 9% and Adjusted EBITDA margin of 16% compared to 23% a year ago. As a result, EPS of 66 cents was down 37% from a year ago. At the moment the stock is down 1% in the after hours.
NFLX’s quarter, on the other hand, far exceeded expectations. The big number was the addition of 8.76 million paid subscribers in the quarter. Shares are currently up 13% in the after hours.