This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribeto a three-year low due to increased expenses on AI infrastructure for self-driving cars and price cuts to combat declining sales. CEO Elon Musk said Telsa will unveil its robotaxi on Oct. 10, two months later than planned.
, but YouTube advertising revenue disappointed. Overall revenue grew 14% year-over-year, driven by search and cloud, which surpassed $10 billion in quarterly revenues and $1 billion in operating profit for the first time. YouTube's ad revenue fell short of estimates amid increased competition from platforms like TikTok.
. Analysts expressed concern that GM's earnings may have peaked. Morgan Stanley's Adam Jonas warned that historical trends suggest the current positive performance may not be sustainable. RBC Capital Markets' Tom Narayan highlighted GM's expectation that second-half earnings will be $2.5 billion lower than in the first half.
"For people like us, who are really interested in what the next phase of markets will look like and the possibility to deploy new technology to create innovative use cases and applications, this is a really important space to watch in ethereum." Ether may be one for the future, but investors were also focused on corporate earnings which are off to a strong start. About 20% of S&P 500 companies have posted second-quarter results, with 80% of those names beating expectations, FactSet data shows.."In our view, a batch of better-than-expected reports could potentially stem the current selloff and spark a forceful bounce," according to Wolfe Research.
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