Alphabet, Tesla, IBM, Texas Instruments Earnings Reports | Closing Bell

Summary

Bloomberg's Closing Bell recaps after-hours earnings from Alphabet, Tesla, IBM, and Texas Instruments. Alphabet's cloud revenue beat estimates while Tesla missed on EPS despite a revenue beat. The hosts discuss the ongoing AI CapEx spending race, noting Bloomberg Intelligence analyst Mandeep Singh's view that Meta Platforms will be the first to reduce spending. No strong trade calls beyond the CapEx differentiation among hyperscalers.

• Alphabet Q2 revenue and cloud revenue beat estimates, driving shares initially higher.
• Tesla Q2 adjusted EPS missed estimates significantly, while revenue beat and free cash flow was negative.
• Texas Instruments Q2 CapEx came in well below estimates but the company reaffirmed its full-year spending plan.
• IBM earnings not discussed in detail in this segment.
• Mandeep Singh of Bloomberg Intelligence expects Meta Platforms to be the first major tech company to slow CapEx, not Alphabet or Amazon.
• The hosts note that Alphabet's cloud backlog of $514B is strong but possibly below the $600B figure some analysts wanted.
• Broad market indices were little changed ahead of the earnings releases.