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The first two big-name stocks to report 3Q23 earnings were Tesla (TSLA) and Netflix (NFLX) on Wednesday afternoon. TSLA’s numbers looked weak to me with revenue growth of just 9% and Adjusted EBITDA margin of 16% compared to 23% a year ago. As a result, EPS of 66 cents was down 37% from a year ago. At the moment the stock is down 1% in the after-hours.
NFLX’s quarter, on the other hand, far exceeded expectations. The big number was the addition of 8.76 million paid subscribers in the quarter. Shares are currently up 13% in the after-hours.
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