Categories AlphaGraphs, Earnings, Technology
Tesla (TSLA) stock jumps on surprise profit; Q2 revenue down 5%
Electric car maker Tesla Inc. (NASDAQ: TSLA) reported a surprise profit for the second quarter of 2020 despite operations getting disrupted due to the COVID-19 outbreak in recent months, which resulted in a 5% decline in revenues. The company’s stock gained 7% on Wednesday evening following the announcement.
The Silicon Valley tech firm reported adjusted earnings of $2.18 per share for the June-quarter, compared to a loss of $1.12 per share last year. On an unadjusted basis, net income was $104 million or $0.50 per share, compared to a loss of $408 million or $2.31 per share in the second quarter of 2019. Analysts were expecting the company to post a loss for the recent quarter.
Revenues, meanwhile, dropped 5% annually to $6.04 billion but exceeded the forecast. Tesla’s stock closed Wednesday’s regular trading higher and continued to gain during the extended session.
Most Popular
CCL Earnings: Carnival Corp. Q4 2024 revenue rises 10%
Carnival Corporation & plc. (NYSE: CCL) Friday reported strong revenue growth for the fourth quarter of 2024. The cruise line operator reported a profit for Q4, compared to a loss
Key metrics from Nike’s (NKE) Q2 2025 earnings results
NIKE, Inc. (NYSE: NKE) reported total revenues of $12.4 billion for the second quarter of 2025, down 8% on a reported basis and down 9% on a currency-neutral basis. Net
FDX Earnings: FedEx Q2 2025 adjusted profit increases; revenue dips
Cargo giant FedEx Corporation (NYSE: FDX), which completed an organizational restructuring recently, announced financial results for the second quarter of 2025. Second-quarter earnings, excluding one-off items, were $4.05 per share,
