All articles tagged with #q1 2024
Chinese electric vehicle maker NIO reported a 42.1% decline in Q1 2024 revenue from the previous quarter, with vehicle deliveries down 39.9% Q/Q. The company posted an adjusted loss per share of ($0.33), slightly worse than analysts' expectations. Despite a positive forward outlook, NIO's stock fell 5.88% premarket.
Huawei captured the top spot in global foldable smartphone shipments in Q1 2024, driven by its transition to 5G, which led to a 257% YoY growth. The global foldable market grew 49% YoY, with book-type foldables surpassing clamshells in shipments for the first time in 11 quarters. HONOR and Motorola also saw significant growth, particularly in overseas markets.
Nikola Corporation, a global leader in zero-emissions transportation, produced 43 and wholesaled 40 Class 8 hydrogen fuel cell electric trucks in Q1 2024, with plans to start returning battery-electric trucks to customers. The company anticipates further sales growth as their hydrogen fueling solutions come online and is committed to leading the effort for industry decarbonization. Nikola's mission is to pioneer solutions for a zero-emissions world, and they are driving the advancement of the complete hydrogen refueling ecosystem.
Tesla's (TSLA) Q1 2024 delivery estimates are fluctuating widely on Wall Street, with analysts revising their predictions to as low as 420,000 deliveries, down from previous estimates of 475,000. The overall consensus now stands at around 458,500 deliveries, but some suspect it could be even lower. The company is expected to release its Q1 2024 delivery and production numbers early next week, and anything below 450,000 deliveries would be concerning for Tesla. The decrease in estimates is attributed to concerns about demand and potential production challenges, including the recent arson attack on Gigafactory Berlin.
Wedbush Securities analyst Dan Ives predicts Tesla's Q1 2024 deliveries to be between 425,000 and 475,000 units, citing a "nightmare" quarter for Tesla China due to soft demand and production adjustments. Despite the challenges, Ives remains bullish on TSLA but lowered the price target to $300. Similarly, Morgan Stanley analyst Adam Jonas reduced Q1 delivery estimates and reiterated an Overweight rating for TSLA, foreseeing potential growth through cost-cutting measures and collaborations.
Visa Inc reported a 9% increase in net revenues to $8.6 billion and a 17% rise in GAAP net income to $4.9 billion in Q1 2024. The company also saw an 8% growth in payments volume and a 9% increase in processed transactions. Visa returned $4.4 billion to shareholders through repurchases and dividends. The company's strategic acquisitions and focus on operational efficiency position it well for future growth in the dynamic payments landscape.
PlayStation exclusive game, Pacific Drive, has been delayed until Q1 2024, disappointing fans who were eagerly awaiting its release in 2023. Ironwood Studios, the game's developer, cited the need to prioritize the team's well-being and ensure the game is the best it can be. Despite the delay, fans have shown understanding and respect for the decision, with many looking forward to other upcoming releases like Baldur's Gate 3.