Tesla (TSLA) was up 10% after its second-quarter earnings report.
Tesla said it earned a nickel a share on revenue of $405 million.
Analysts were expecting the company to report a loss of 17 cents a share on $385 million in revenue.
On a GAAP basis, Tesla reported a loss of $30.5 million, or 26 cents a share, compared with a year-earlier loss of $105.6 million, or $1 a share.
In the quarter Tesla made 5,150 deliveries, squeaking past the 4,500 guidance, while gross margins of 22% also came in ahead of forecasts. It touted a 25% increase in production, as it made 500 vehicles a week, up from 400.
The company said it plans to deliver more than 5,000 of its Model S vehicles in the third quarter, with 21,000 for the year as a whole. It sees third-quarter gross margins also in the low 20% range.
The shares have skyrocketed more than 300% since the start of the year, and reached a new all-time high on Tuesday.
Earlier today the stock closed down ahead of the earnings report; there was also news that Tesla is dealing with trademark "trolls" in China. The stock has largely shrugged off BMW's entrance into the electric car market last week.
No comments:
Post a Comment