Pre-market US stocks | Tesla falls nearly 3%, Tesla says car prices may continue to drop; Netflix says future membership fees will increase.
Netflix fell nearly 7%, Tesla fell nearly 3%, TSMC fell nearly 3%, NVIDIA, AMD, and Micron Tech fell over 1%, Intel fell 0.84%, Qualcomm fell 0.42%. Pinduoduo fell nearly 1%, BILIBILI-W fell 1.3%, XPENG-W fell 1.6%, LI AUTO-W fell over 1%.
US Stock Market News
-
Tesla's Q2 revenue was $24.927 billion, a YoY growth of 47.2%, with a net profit of $2.703 billion, a YoY growth of 19.6%, both exceeding expectations. The gross margin was 18.2%, slightly lower than the expected 18.8% and the 25% of the same period last year. Tesla stated that the company is still expected to achieve a YoY production growth of about 50% in 2023, reaching approximately 1.8 million vehicles.
-
Tesla has submitted a recall application for 15,869 US vehicles to the National Highway Traffic Safety Administration.
-
Taiwan
-
Netflix's Q2 revenue was $8.19 billion, a YoY growth of 2.7%, lower than the previous quarter's growth rate of 3.7% and analysts' expectations of $8.3 billion. In Q2, Netflix's net profit was $1.488 billion, with diluted earnings per share of $3.29. Netflix expects Q3 revenue to grow significantly by 7.5% YoY to $8.52 billion. The net increase in streaming paid memberships in Q2 was 5.89 million, greatly exceeding expectations. Membership prices will increase in the future.
-
Nokia's Q2 revenue was €5.71 billion, with a net profit of €289 million.
Pre-market Movers
In pre-market trading, Dow Jones futures are slightly up, Nasdaq futures are down 0.8%, and S&P 500 futures are down 0.2%.
Tesla is down nearly 3%, with the company's profit margin declining for three consecutive quarters. Tesla stated that it may continue to lower prices.
Multiple stocks in the US semiconductor sector are down in pre-market trading, with TSMC down nearly 3%, NVIDIA, AMD, and Micron Tech down over 1%, Intel down 0.84%, and Qualcomm down 0.42%.
Netflix is down 7% as its Q2 revenue did not meet expectations.
Pinduoduo is down nearly 1%, Bilibili is down 1.3%, XPENG-W is down 1.6%, and Li Auto is down over 1%.