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After-Hours News: Tesla Rolls Out Autopilot Feature and Resources Connection Reports Earnings

By Daniel Sparks – Apr 3, 2019 at 8:10PM

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Tesla makes highway driving a breeze and Resources Connection faces macro headwinds in Europe.

Two notable stories surfaced during after-hours trading on Wednesday. Electric-car maker Tesla (TSLA) announced significant improvements to Autopilot, which the company said will begin rolling out to customers in the U.S. through over-the-air software updates beginning today. Meanwhile, business consulting company Resources Connection (RGP 0.31%) announced its third-quarter results for fiscal 2019.

Here's a look at both of these stories.

A white Tesla Model S car driving through the mountains.

The Tesla Model S. Image source: Tesla.

Tesla's "more seamless" Navigate on Autopilot

Last October, Tesla launched a feature called Navigate on Autopilot. The autopilot feature made it possible for customers to use the company's driver-assist technology from highway on-ramp to highway off-ramp. But there was one requirement holding the technology back: Drivers were required to confirm automated lane changes before they were executed by using the turn stalk to approve suggested lane changes.

Tesla's April 3 update gives drivers the option to use Navigate on Autopilot without confirming lane changes.

Of course, Tesla was sure to remind customers that this doesn't mean cars are fully autonomous when on the highway.

This feature does not make a car autonomous, and lane changes will only be made when a driver's hands are detected on the wheel. As has always been the case, until truly driverless cars are validated and approved by regulators, drivers are responsible for and must remain in control of their car at all times.

The news follows Tesla's announcement this morning of an event on April 19 to discuss its progress on autonomous driving software and hardware technology. 

Resources Connection earnings

Consulting firm Resources Connection announced its fiscal third-quarter results Thursday afternoon.

Revenue during the period rose 4.1% year over year to $179.5 million. The company's non-GAAP EPS was $0.20, up from $0.09 in the year-ago quarter. Growth was driven by the U.S. and Asia Pacific, where Resources Connection saw revenue rise 6% and 4% year over year, respectively. Revenue in Europe, however, took a hit, declining 9.7% year over year (3.5% in constant currency). 

The results fell short of analysts' consensus estimate (via Yahoo! Finance). The average forecasts of the two analysts covering the stock were for revenue of $184.2 million and non-GAAP earnings per share of $0.21.

Resources Connection CEO Kate Duchene said the company "faced macro headwinds" in Europe. But she said she is "pleased that we have made progress with our critical initiatives to improve bill rates and expand our mix of business to drive more profitable results through our solutions offerings."

Daniel Sparks owns shares of Tesla. The Motley Fool owns shares of and recommends Tesla. The Motley Fool has a disclosure policy.

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