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What You Need To Know for January 30th
The Fed Holds. Big Tech Earnings Reports.
HY Harry
January 30, 2025
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The Week Ahead Of Us 🔍
Welcome back!
Peak earnings season is under way, so let’s get right into it.
Earnings Corner 📜
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Tesla (TSLA) reported earnings that missed estimates, with revenue of $25.71B up 2% y/y (vs. $27.26B expected) and EPS of $0.73 (vs. $0.76 expected). Automotive revenue fell 8% y/y to $19.8B, with $692MM of that total coming from regulatory credits. These declines were due to falling volumes, as 2024 saw the first annual drop in Tesla deliveries, as well as discounting of flagship vehicles. Amid these challenges, Elon Musk has encouraged investors to focus on the company’s strides in autonomous driving and robotics. The stock initially fell but was up 4% in after-hours trading
Meta (META) reported earnings that beat estimates, with revenue of $48.39B up 21% y/y (vs. $47.04B expected) and EPS of $8.02 (vs. $6.77 expected). Meta AI saw monthly chatbot users jump to 700MM (vs. 600MM in December), and the company reiterated its commitment to investing $60B-$65B into AI development. Mgmt. projected Q1 revenue of $39.5B-$41.8B (vs. $41.73B projected). The stock was up 2.4% after Wednesday’s close
AT&T (T) reported earnings that beat estimates. Wireless subscriber growth also outpaced expectations, as the company added 482K new customers (vs. 424K expected). A key growth driver was the company’s new discounted premium plans, which bundle 5G mobile and high-speed fiber services. AT&T added 307K new fiber customers (vs. 226K the previous quarter). The stock was up 6.7% at Wednesday’s close
Starbucks (SBUX) reported earnings that beat estimates. Although revenues were flat y/y, same store sales fell 4% (vs. the 5.5% drop expected), driven by a 6% decline in traffic. Discounted transactions were down by 40%, as the company’s new CEO has cut back deals and promotions. Mgmt. noted that they will open fewer new stores and perform limited renovations in 2025, to free up capital for the ongoing turnaround effort. The stock was up 8.1% at Friday’s close