Tesla, IBM, Las Vegas Sands and more

Tesla (TSLA): Shares fell after the company’s third-quarter revenue fell short of Wall Street estimates. Tesla reported adjusted earnings of $1.05 per share on revenue of $21.45 billion. The company also confirmed that it still expects average annual growth of 50% for vehicle deliveries, despite logistics volatility and supply chain bottlenecks.

IBM (IBM): IBM raised its full-year revenue forecast and posted better-than-expected third-quarter results, pushing its share up more than 4% in expanded trading. Third quarter revenue was $14.1 billion on earnings of $1.81 per share. Red Hat’s sales increased by 12%.

Las Vegas Sands (LVS): The casino giant reported an adjusted third-quarter loss of 27 cents, ahead of street expectations for a loss of 24 cents a share, on revenue of $1.01 billion. In publishing the results, executives noted that travel restrictions and fewer visitors continued to impact their business. Despite the delay, CEO Rob Goldstein remained positive, noting that he is “confident in the recovery of travel and tourism spending.

Lam Research (LRCX): The semiconductor company’s third quarter results outperformed both the top and bottom lines, pushing the stock higher in after-hours trading. Revenue for the quarter was $5.07 billion, up 9.5% from the prior quarter. CEO Tim Archer noted that “solid execution coupled with easing supply chain conditions” helped improve the company’s bottom line.

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