Jim Cramer has some thoughts about Facebook and Tesla's earnings and his newest market sources.
Looking to Add a New Acronym to Your Dictionary?
Cramer penned yet another new acronym in his Real Money column Thursday morning.
Hint: It's BTF.
No, I'm not telling you anything more than that.
Tesla's Earnings Did you miss the call?
Here's what you need to know.
Real Money Stock of the Day Tesla reported an adjusted loss in the period of $1.12 a share, below forecasts that predicted a loss of 40 cents.
Revenue in the quarter of $6.35 billion also came up shy of consensus.
"We are working to increase our deliveries sequentially and annually, with some expected fluctuations from seasonality," Elon Musk, CEO, said.
"This is consistent with our previous guidance of 360,000 to 400,000 vehicle deliveries this year." And, of course, there was a bit of a surprise on the call.
Musk said that J.B.
Straubel, one of the founders of Tesla and Chief Technology Officer, would be moving to a senior advisor role.
Facebook Earnings But Tesla wasn't the only big company to report earnings after the bell Wednesday.
Facebook earned $1.99 a share in the second quarter, up from $1.74 a year earlier.
Revenue jumped 28% in the quarter to $16.9 billion.
"We had a strong quarter and our business and community continue to grow," said Mark Zuckerberg, Facebook founder and CEO.
"We are investing in building stronger privacy protections for everyone and on delivering new experiences for the people who use our services."