Tesla, Facebook Surge in Premarket on Strong Q1 Updates By Investing.com

© Reuters.

By Geoffrey Smith

Investing.com — Stocks in focus in premarket on Thursday, 30th April. Please refresh for updates.

  • Facebook (NASDAQ:) stock was up 7.1% after its first-quarter profit and revenue beat expectations, and the company said that advertising revenue had held up so far in April, as locked-down users spent more time on the company’s various social media and messaging apps.
  • Microsoft (NASDAQ:) stock was up 1.0% after the company reported a 15% rise in earnings, due largely to strong demand for its cloud hosting business Azure as businesses shift more of their activity to online formats.
  • Tesla (NASDAQ:) stock was up 7.1% after the company posted net earnings per share of $1.24 for the quarter, in contrast to expectations for a modest loss.
  • That was an unprecedented third straight quarter of profit for the company. Free cash flow was negative, however.
  • The company is still not able to reopen its only U.S. manufacturing plant at Fremont in California.
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