From Nasdaq: 2024-05-07 12:13:00

The Zacks Research Daily highlights Q1 earnings season updates and research reports on 16 major stocks, including Tesla, Johnson & Johnson, and Netflix. Q1 earnings for S&P 500 companies are up +5.2% YoY, with 78.2% beating EPS estimates and 61% beating revenue estimates. Tesla focuses on autonomous driving and AI, J&J’s Innovative Medicine unit is thriving, and Netflix adds 9.33 million paid subscribers in Q1 2024.

Tesla’s shares are down, facing challenges in automotive margins and slowing deliveries. The company plans to focus on autonomous driving and AI, aiming for affordable vehicles and a transition into an AI company. Tesla’s Energy Generation and Storage business is performing well, with opportunities in driverless software and AI.

Johnson & Johnson shares underperform due to generic competition and pricing pressure. The company’s Innovative Medicine unit is driving growth, with existing products and new launches performing well. J&J’s MedTech unit is also showing positive trends, supported by its pipeline and line extensions.

Netflix’s shares outperform with 9.33 million paid subscribers added in Q1 2024. The company credits its robust top-line growth to subscription-sharing offering, price changes, and content strength. Despite competition from other streaming services, Netflix is expected to continue dominating the sector with its diversified content portfolio supported by heavy investments in production and distribution.



Read more at Nasdaq: Q1 Earnings Season Scorecard and Fresh Analyst Reports for Tesla, JNJ & Netflix