Categories AlphaGraphs, Earnings, Industrials

Tesla stock plunges after Q2 results miss estimates; loss narrows

After reporting record-high deliveries a few weeks ago, Tesla (Nasdaq: TSLA) Wednesday posted a narrower net loss for the second quarter, helped by an increase in revenues. However, the results missed analysts’ forecast, sending the stock down during the extended trading session.

Tesla (TSLA) stock plunges after Q2 results miss estimates

During the quarter, revenues surged 59% annually to $6.35 billion, helped mainly by a 60% rise in automotive sales. The top line, however, missed the market’s expectations.

The Silicon Valley-based electric carmaker reported an adjusted loss of $1.12 per share for the June-quarter, which marked a significant improvement from the year-ago quarter when it registered a $3.06 per share loss. Analysts had forecast a narrower loss for the most recent quarter. On an unadjusted basis, net loss eased to $408.3 million or $2.31 per share from $717.5 million or $4.22 per share in the second quarter of 2018.

During the quarter, revenues surged 59% annually to $6.35 billion, helped mainly by a 60% rise in automotive sales

Total operating expenses declined 12 to $1.1 billion, despite the increase in vehicle deliveries and inclusion of $117 million in restructuring and other charges.

Meanwhile, the management said it is on track to launch the Gigafactory in Shanghai, China, by the end of 2019 and roll out Model Y by the fall of 2020. Production in China is expected to start by year-end.

While the average selling price remained stable at around $50,000 during the quarter, manufacturing costs continued to decline. There was a further improvement in the production rate of Model 3.

Tesla Q2 deliveries hit record high of 95,200 units

Reaffirming its earlier outlook, Tesla said it targets to produce 10,000 vehicles of all models, per week, by the end of 2019. In the 12-month period ending June 30, 2020, it aims to produce over 500,000 vehicles globally. The company continues to expect to deliver 360,000 to 400,000 vehicles this year, and report profit in the third quarter and beyond.

A recent statement from the company showed that deliveries of Model 3 nearly tripled in the second quarter, lifting total deliveries to a record high of 95,200 units. The strong performance comes on the heels of the company expanding the market for Model 3 to Europe and China.

Related: Tesla Q1 2019 Earnings Conference Call Transcript

Tesla’s shares last month slipped to the lowest level in two-and-half years, after losing consistently since the beginning of the year. They gained 47% since then and are currently on the recovery path. The stock, which lost 12% in the past twelve months, closed Wednesday’s regular session higher.

We’re on Apple News! Follow us to receive the latest stock market, earnings and financial news at your fingertips

Most Popular

ADBE Earnings: Adobe reports higher Q2 earnings; results beat estimates

Design software maker Adobe Inc. (NASDAQ: ADBE) on Thursday reported an increase in second-quarter 2024 revenue and earnings. The results also topped expectations. Second-quarter revenues came in at $5.31 billion,

Dollar Tree (DLTR): A look at the discount retailer’s growth initiatives at its namesake banner

Shares of Dollar Tree, Inc. (NASDAQ: DLTR) were down over 1% on Thursday. The stock has dropped 24% year-to-date. The company delivered sales and GAAP earnings growth for the first

Key highlights from Signet Jewelers’ (SIG) Q1 2025 earnings results

Signet Jewelers Limited (NYSE: SIG) reported first quarter 2025 earnings results today. Sales decreased 9.4% year-over-year to $1.5 billion. Sales were down 9.6% on a constant currency basis. Same-store sales

Comments

  1. Pingback: Academic Year
  2. Pingback: Oral health
  3. Pingback: practical training
  4. Pingback: fue
  5. Pingback: fue
  6. Pingback: Dental Education
  7. Pingback: Fiverr Earn
  8. Pingback: fiverrearn.com
  9. Pingback: fiverrearn.com
  10. Pingback: fiverrearn.com
  11. Pingback: fiverrearn.com
  12. Pingback: fiverrearn.com
  13. Pingback: fiverrearn.com
  14. Pingback: french bulldog
  15. Pingback: fiverrearn.com
  16. Pingback: cavapoo
  17. Pingback: SEO in Kuwait
  18. Pingback: bitcoin
  19. Pingback: future university
  20. Pingback: future university
  21. Pingback: future university
  22. Pingback: future university
  23. Pingback: future university
  24. Pingback: golf cart mexico
  25. Pingback: wix login
  26. Pingback: Fiverr
  27. Pingback: FiverrEarn
  28. Pingback: fue
  29. Pingback: lean manufacturing
  30. Pingback: FUE
  31. Pingback: FUE
  32. Pingback: FUE
  33. Pingback: Classic Books 500
  34. Pingback: FiverrEarn
  35. Pingback: Fiverr.Com
  36. Pingback: FiverrEarn
  37. Pingback: FiverrEarn
  38. Pingback: FiverrEarn
  39. Pingback: FiverrEarn
  40. Pingback: Media
  41. Pingback: FiverrEarn
  42. Pingback: FiverrEarn
  43. Pingback: pupuk organik
  44. Pingback: partners
  45. Pingback: xitox reviews
  46. Pingback: FiverrEarn
  47. Pingback: FiverrEarn
  48. Pingback: FiverrEarn
  49. Pingback: FiverrEarn
  50. Pingback: FiverrEarn
  51. Pingback: FiverrEarn
  52. Pingback: FiverrEarn
  53. Pingback: FiverrEarn
  54. Pingback: FiverrEarn
  55. Pingback: FiverrEarn
  56. Pingback: Farming
  57. Pingback: Kuliah Termurah
  58. Pingback: FiverrEarn
  59. Pingback: FiverrEarn
  60. Pingback: FiverrEarn
  61. Pingback: FiverrEarn
  62. Pingback: FiverrEarn
  63. Pingback: cheap sex cams
  64. Pingback: fullersears.com
  65. Pingback: fullersears.com
  66. Pingback: french bulldog
  67. Pingback: live sex cams
  68. Pingback: freeze dried
  69. Pingback: frt trigger
  70. Pingback: Southampton taxi
  71. Pingback: 늑대닷컴
  72. Pingback: Withdraw
  73. Pingback: superslot
  74. Pingback: allgame
  75. Pingback: 918kiss
  76. Pingback: หวย24
  77. Pingback: Hair care
  78. Pingback: bulldog in clothes
  79. Pingback: pg slot
  80. Pingback: catskills hotel
  81. Pingback: weight loss drops
  82. Pingback: ozempic
  83. Pingback: itsMasum.Com
  84. Pingback: itsMasum.Com
  85. Pingback: itsMasum.Com
  86. Pingback: Skywhip tanks
  87. Pingback: chatavenue
  88. Pingback: warsaw jobs
  89. Pingback: shanghai jobs
  90. Pingback: denver jobs
  91. Pingback: itsmasum.com

Comments are closed.

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top