Stocks moving in after hours: Tesla, IBM, ServiceNow, Levi

Tesla (TSLA)

The electrical car (EV) large reported adjusted quarterly earnings of $1.19 versus analyst estimates of $1.12 per share. Gross sales of $24.32 billion beat analyst estimates of $23.03 billion. Tesla’s automotive gross margin of 25.9% got here in beneath expectations of 28.4%.

The corporate stated its Cybertruck mannequin is on observe to start manufacturing later this yr. Extra particulars are anticipated to be revealed at its investor day on March 1.

IBM (IBM)

IBM shares rose 2% after the corporate introduced fourth-quarter income of $16.69 billion, barely above analyst expectations. Adjusted earnings per share got here in at $3.60, in keeping with the typical analyst estimate.

The hybrid cloud and infrastructure firm will likely be slicing about 3,900 jobs, or 1.5% of its workforce, in line with an interview given by CFO James Kavanaugh, reported by Bloomberg. IBM joins a slew of tech corporations that are slicing prices by slashing its workforce amid slowing economies all over the world.

ServiceNow (NOW)

Shares of the software program firm ServiceNow are down after subscription gross sales got here in beneath analyst expectations.

Subscription income for the corporate’s newest quarter elevated 22% to $1.86 billion, however got here in shy of analyst estimates of $1.89 billion. Its subscription gross sales forecast although for 2023 got here in higher than anticipated.

The corporate’s fourth quarter adjusted income of $2.03 billion got here in above estimates of $2.01 billion. Its adjusted income of $2.03 billion additionally beat expectations of $2.01B

The corporate is vowing to not lay off workers in 2023, in line with an interview by CEO Invoice McDermott, reported by Bloomberg.

Levi Strauss (LEVI)

Levi Strauss’s adjusted earnings per share of 34 cents for the fourth quarter beat the typical analyst expectation of 29 cents.

Internet income of $1.59 billion additionally got here in barely larger than the $1.57 billion anticipated by Wall Avenue.

The denim firm’s adjusted earnings per share forecast vary of $1.30 to $1.40 coincides with the $1.35 estimated by analysts.

Story continues

“We achieved sturdy leads to 2022 by specializing in execution and the controllables of the enterprise,” stated chief monetary and development officer, Harmit Singh.

Ines is a senior enterprise reporter for Yahoo Finance. Comply with her on Twitter at @ines_ferre

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