On Wednesday, Tesla gained 3.3% to settle at $345 per share during the normal session, but continued to trade higher in after-market trade following the release of better-than-expected results. During the fourth quarter, the group recorded revenues of $3.29b, marginally higher than estimates of $3.28b. This uptick was mainly due to a record number of deliveries during the quarter, with Model S and X deliveries increasing by 28% over the last year. Overall, Tesla reported a net loss of $675m, or $4.01 per share, its largest loss ever, much higher than the 78 cent per share loss recorded in 2016. On an adjusted basis, the group reported a loss per share of $3.04, marginally better than forecasts of a loss of $3.12.
On Tuesday, Walt Disney added 1.4%, or $1.47, as it moved to settle at $106.17 per share, despite the group releasing mixed quarterly results. During the quarter, revenues came in at $15.35b, slightly lower than expectations of $15.45b. Its studio segment disappointed with revenues of only $2.5b, less than forecasts of $2.75b, while its media and networks segments also missed expectations by $0.11b. In contrast, the group was supported by a strong performance from its parks and resorts segment which reported revenues of $5.15b, sharply higher than estimates of $4.86b. Walt Disney reported adjusted earnings per share of $1.89, easily beating forecasts of $1.61.
On Monday, Bristol-Myers Squibb shed 3.97%, or $2.52, to close at $60.96 per share, despite the group releasing better-than-expected quarterly results. During the period, revenues increased to $5.45bn, up from $5.24bn previously and easily topping expectations of $5.35bn. Overall, Bristol-Myers Squibb recorded a net loss of $2.33bn, or $1.42 per share, much lower than earnings of $894mn, or 53 cents per share, reported a year ago. However, it must be noted that this includes a $2.9bn one-time charge in the 4th quarter following the US corporate tax overhaul. On an adjusted basis, the group saw earnings come in at 68 cents per share, marginally higher than 67 cents per share.
On Friday, Exxon Mobil released its latest quarterly results, with both revenue and earnings missing expectations. In return, the group’s shares shed 5.1%, or $4.54, as it moved to settle at $84.53 per share. During the period, Exxon Mobil recorded revenue of $66.52b, sharply lower than estimates of $74.31b. Furthermore, the Texas-based company reported adjusted fourth quarter earnings of 88 cents per share, below forecasts of $1.04 per share. However, for the full-year, Exxon Mobil saw its profits surge to $19.71b, its highest annual earnings since 2014. On Wednesday, the group confirmed that it had decided to leave its quarterly dividend unchanged at 77 cents per share.
On Thursday, Apple released better-than-expected quarterly results. Revenues came in at $88.3b, beating estimates of $87.28b and up from the $78.35b recorded a year ago. This uptick was in spite of iPhone sales only coming in at 77.3m units, much lower than forecasts of 80m and worse than the 78m units sold last year. This was, however, offset by a higher-than-expected sales price. Quarterly earnings increased over the last year to $3.89 per share, up from a previous $3.36, and topping estimates of $3.86. Looking forward, Apple expects to record revenues of between $60b and $62b in the current quarter, much worse than estimates of $65.73b.
On Wednesday, Facebook released better-than-expected results for the fourth quarter, but shares slumped in after-hours trade following some worrying items. During the period, the group saw revenues surge to $12.97b, much higher than the $8.81b recorded a year ago and beating estimates of $12.55b. This growth was mainly due to a 48% increase in advertising revenue, with 89% of advertising revenue coming from mobile users. However, daily active users came in at 1.4b, slightly lower than forecasts of 1.41b, while monthly active users were in-line with expectations of 2.13b. On an adjusted basis, earnings per share stood at $2.21, smashing estimates of $1.95 and up from the $1.41 reported in 2016.
On Tuesday, MCD shed 2.98% to settle at $172.48 per share, despite the group releasing better-than-expected results for the fourth quarter. Revenues for the period came in at $5.34b, easily topping forecasts of $5.22b. In addition, same-store sales in the US increased by 4.5%, marginally higher than an estimated increase of 4.3%. Net income declined by 41% to $698.7m, or 87 cents per share, down from $1.19bn, or $1.44 per share, a year ago. This decline was partly due to changes in the US tax law, with the group taking an 84 cents per share hit. On an adjusted basis, earnings came in at $1.71 per share, beating forecasts of $1.59 per share.
Lockheed Martin added 1.89% to settle at $351.42 per share on Monday, despite the group releasing mixed results for the fourth quarter. Reported net sales grew to $15.14b, up from the $13.75b, easily topping analysts’ estimates of $14.72b. On an adjusted basis, Lockheed Martin earned $3.87 per share, missing forecasts of $4.07 per share. The group expects net sales to be between $50b and $51.5b in 2018, in-line with expectations of $51.1b. Earnings for 2018 are set to come in at between $15.20 and $15.50 per share, much higher than the estimated $14 per share.
On Friday, Colgate-Palmolive ended sharply lower, down 4.85%, negatively affected by the release of disappointing quarterly results. During the period, the group recorded a 4.5% increase in sales to $3.9b, but this was still slightly lower than estimates of $3.92b. Gross margins were negatively affected during the fourth quarter, as the metric declined by 60 basis points to 69.8%. The company also confirmed its spending on advertising had surged by 24% to $369m and it intends to increase spending during 2018. Furthermore, net income slumped by 50% to $323m, or 37 cents per share, with its results also affected by a $275m charge following changes to the US tax code. On an adjusted basis, earnings came in at 75 cents per share, in-line with expectations.
Intel ended 0.46% lower at $45.30 per share, but surged more than 5.5% in after-market trade, after the group released its latest quarterly results. Revenues for the period grew by 4% to $17.05bn, much higher than estimates of $16.35bn. Intel’s biggest segment, Client Computing, saw revenues decline by 2% to $9bn, but this was more than offset by a 20% increase in revenue from its Data Centre segment to $5.6bn. Adjusted earnings also surpassed expectations of $0.86 to come in at $1.08 per share. Looking forward, Intel expects its tax rate to decline to 14% during 2018 and also announced a 10% increase in its quarterly cash dividend as a result.