Tesla and EasyJet Report Mixed Second Quarter Results, Aston Martin Announces Transition to Electric Cars, Banco Santander UK Profits Slump
Tesla shares took a hit in pre-market trading after the electric vehicle giant reported its second-quarter results, which were a mixed bag. Despite beating revenue expectations, the company delivered fewer vehicles than the previous year, causing some concern among investors.
On the other hand, budget airline EasyJet saw its shares soar after announcing a 16% rise in third-quarter profits. The company attributed its success to strong demand for both flights and holiday packages, with profits expected to continue to climb.
Meanwhile, luxury carmaker Aston Martin revealed plans to invest £2bn in transitioning to electric cars, despite widening losses in the first half of the year. The company remains optimistic about its future performance and is confident in achieving positive cash flow later this year.
In the banking sector, Banco Santander UK reported a 31% drop in pre-tax profits due to shrinking mortgage lending and higher savings rates. The bank is hopeful for a turnaround in the second half of the year, with profits increasing quarter-on-quarter.
Overall, the market saw a mix of ups and downs as companies across various sectors released their financial results. Investors will be keeping a close eye on upcoming reports from other major players in the industry.
