Tesla profits drop 43% in Q3

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• IBM reports Q3 revenue up 5% YoY to $17.1B, above $16.82B est., net income up 26% to $2.19B, software revenue up 8% to $7.8B, and infrastructure revenue up 4% (Elias Schisgall/Wall Street Journal)

  IBM reports a 5% revenue increase over the previous year, with net income up 26%, software revenue rising by 8%, and infrastructure revenue climbing by 4%, marking a positive trend in the company's financial health and operational performance.

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• Meta says it would’ve made over $22 billion if it didn’t have to pay a child safety settlement

  Meta, the parent company of Facebook and Instagram, faced a significant financial setback of $9.89 billion due to a child safety lawsuit settlement, leading to a $22.89 billion loss in income from operations. Despite this, Meta managed to maintain a strong financial performance, attributing its success to investments in AI and personal superintelligence.

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• Southwest Airlines cuts 2026 profit forecast on higher fuel

  Southwest Airlines has cut its 2026 profit forecast due to higher fuel prices, predicting earnings between $2.60 and $2.85 cents a share this year, down from $3.25 to $4.25 a share in July. CEO Bob Jordan attributes the earnings power Southwest has built to higher fuel costs, despite strong demand and revenue growth. Southwest has been remaking its business model in recent years, scrapping policies like free checked bags and open seating, and charging for seat assignments and a bag fee.

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