MB206: Earnings Update: Alphabet Mixed Performance, Tesla Struggle & Spotify Surges, Why?!

Digest & Invest by eToro | Insights on Trading, Markets, Investing & Finance

In this episode of Market Bites, the hosts discuss three companies: Alphabet, Tesla & Spotify.
Key Takeaways

• Alphabet showed strong financial performance, with revenue and net income growth driven by Google's core advertising business and Google Cloud.
• Tesla missed earnings estimates for the fourth consecutive quarter and reported lower automotive gross margins. They also mentioned lower delivery expectations for 2024.
• Spotify reported record profits and gross margins, but slightly missed revenue and monthly average user expectations.
• The market reactions to these earnings reports varied, with Alphabet experiencing a 2% decline, Tesla facing disappointment, and Spotify receiving a positive response.

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