Big Tech Earnings Take Center Stage With Tesla, SpaceX, and Meta Reporting

Oct 18, 01:58 PM UTCMixedHigh impact

SPCX$146.03 −1.74%WDC$332.00 −6.86%IBM$232.14 −0.85%GE$313.83 0.59%UAL$96.10 −5.14%AAL$11.88 −3.26%

Major technology and industrial companies prepare to report quarterly financial results following a difficult week for tech shares. Benchmark funds moved lower in recent late trading, with the SPDR S&P 500 ETF (SPY) falling 0.26% and the Invesco QQQ Trust ETF (QQQ) dropping 0.27%. Investors enter the week looking to see if corporate performance can help stabilize broader market sentiment.

Elon Musk's companies lead the focus with back-to-back earnings releases. Space Exploration Technologies Corp. (SPCX) reports Tuesday, with expectations set at $0.18 per share on $13.16 billion in revenue. Tesla Inc. (TSLA) follows Wednesday, with Wall Street expecting $0.45 per share on $28.11 billion in revenue. Key areas of focus for Tesla include profit margins, cash flow, and spending plans for robotaxi, Optimus, and AI development, along with any commentary regarding a potential merger between the two businesses.

Meta Platforms Inc. (META) reports Wednesday after market close, expected to generate $6.76 per share on $63.39 billion in revenue as investors evaluate returns on artificial intelligence infrastructure. Western Digital Corp. (WDC) also reports Wednesday, with expected earnings of $4.08 per share. Further updates from Netflix Inc. (NFLX), International Business Machines Corp. (IBM), GE Aerospace (GE), and major airlines like United Airlines Holdings Inc. (UAL) will offer additional clarity on consumer demand and corporate trends.

Key points

SpaceX reports Tuesday with expected earnings per share of $0.18 on revenue of $13.16 billion.
Tesla reports Wednesday with expected earnings per share of $0.45 on revenue of $28.11 billion.
Meta Platforms reports Wednesday with expected earnings per share of $6.76 on $63.39 billion in revenue.
Western Digital reports Wednesday with expected earnings per share of $4.08 on $4.13 billion in revenue.
Major benchmark ETFs drifted lower in late trading, led by the Invesco QQQ Trust ETF falling 0.27%.

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Questions and answers

What are Wall Street earnings expectations for Tesla this week?

Wall Street expects Tesla to report earnings per share of $0.45 on revenue of $28.11 billion, with investors focusing on margins, cash flow, and AI investments.

When do SpaceX and Meta report earnings?

SpaceX is scheduled to report earnings on Tuesday, while Meta Platforms reports on Wednesday after the market close.

What are analysts expecting for Meta Platforms quarterly results?

Analysts expect Meta Platforms to report earnings per share of $6.76 on revenue of $63.39 billion, with attention on artificial intelligence infrastructure spending.