To The Moon

Meta gained after 26% revenue growth and an upbeat holiday-quarter forecast. IBM also advanced as software demand improved. Lam Research and AT&T sold off despite beating estimates, while Tesla slipped as weaker auto and energy results overshadowed a modest profit beat.

$Meta Platforms, Inc.(META)$ initially rose more than 2% after hours

Meta owns Facebook, Instagram and WhatsApp and is building consumer AI products, smart glasses and virtual-reality hardware.

Third-quarter revenue jumped 26% to $64.6 billion, comfortably above the roughly $63.3 billion consensus. Reported EPS was $3.83 after a $9.89 billion legal charge; excluding that item, earnings would have been $7.40 per share.

Ad impressions increased 10%, while the average price per ad rose 14%. Meta projected fourth-quarter revenue of $73 billion to $76 billion and narrowed its 2026 capital-spending forecast to $135 billion–$145 billion.

Shares initially rose more than 2.17% after hours before trimming the gain. Strong ad pricing, early interest in the Muse AI assistant and a solid holiday outlook helped investors look past another increase in infrastructure spending.apnews.com

$Lam Research(LRCX)$ fell more than 7% after hours

Lam Research makes equipment used to manufacture advanced memory and logic chips.

Fiscal first-quarter revenue surged to a record $8.22 billion, beating the $8.14 billion estimate. Adjusted EPS of $2.20 topped expectations by two cents, and adjusted operating margin reached 40.2%.

For the December quarter, Lam forecast revenue of about $8.6 billion and adjusted EPS of $2.33, both close to Wall Street’s forecasts.

The stock fell more than 7.41% after hours. Investors had been looking for a larger guidance increase after a strong run fueled by AI-related chip spending, making an in-line outlook a disappointment.Oct 21, 2026

$IBM(IBM)$ fell roughly 4.64% after hours

IBM sells enterprise software, infrastructure and consulting services, with a growing focus on hybrid cloud and AI.

Revenue increased about 5% to $17.1 billion, above the $16.8 billion consensus. Adjusted EPS came in at $2.95, beating estimates near $2.87.

Management raised its software-growth outlook to 7%–8% from 6%–8% and now expects annual free cash flow to increase by more than $1 billion from last year’s $14.7 billion.

IBM fell roughly 4.64% after hours. Previously delayed software contracts closed during the quarter, while improving margins and cash generation strengthened confidence in the company’s AI and software strategy.

$AT&T Inc(T)$ dropped 6.5%

AT&T provides wireless, fiber broadband and business-communications services across the United States.

Third-quarter revenue rose 5.3% to $32.3 billion, beating the $31.7 billion estimate. Adjusted EPS of 65 cents topped the 60-cent consensus, and free cash flow reached $5 billion.

AT&T added 379,000 postpaid phone subscribers and a record 769,000 internet customers. It raised full-year adjusted EPS guidance to about $2.40 from $2.25–$2.35.

Shares dropped 6.5%. Wireless additions merely matched expectations, while fiber revenue per user fell 4% as discounted bundles attracted customers at lower prices. Investors also weighed the prospect of tougher competition from SpaceX.

$Tesla Motors(TSLA)$ declined about 3.2% after hours

Tesla sells electric vehicles and battery-storage systems while investing heavily in autonomous driving, robotics and AI.

Revenue was roughly flat at $28.05 billion, essentially matching estimates. Adjusted EPS of 48 cents narrowly beat the 45-cent consensus, and free cash flow reached $1.5 billion.

Automotive revenue declined 3%, while energy-generation and storage revenue fell 16% and missed estimates by a wide margin. Quarterly capital spending more than doubled to $4.7 billion, though Tesla lowered its full-year capex forecast to about $20 billion from $25 billion.

Shares declined about 3.2% after hours. Investors focused on falling net income, slower vehicle and energy growth, and the increasing cost of Tesla’s AI ambitions. Confirmation that Tesla and SpaceX are studying a potential combination did little to support the stock.

Discussion

• Tesla, IBM, AT&T and Lam Research all fell after earnings. Which stock do you think will bounce back first? Tell us your pick and why