Tesla and Alphabet report weaker-than-expected Q2 earnings, triggering a combined market cap loss of over $100 billion in after-hours trading.
Tesla and Alphabet shares fell more than 4% each in after-hours trading following disappointing Q2 earnings results. The declines erased over $100 billion in combined market capitalization, signaling investor concerns over growth and profitability in the tech sector.
Both companies had faced high expectations as bellwethers of the tech earnings season, with markets seeking direction amid macroeconomic uncertainty. Prior to the release, consensus estimates had anticipated stronger performance, particularly in Alphabet’s advertising revenue and Tesla’s delivery numbers.
The sell-off reflects broader anxieties about slowing demand and margin pressures, with traders reassessing valuations ahead of other major tech earnings reports.