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Tesla Shares Volatile After Q2 Results

Tesla Shares Volatile After Q2 Results

Shares of Tesla Motors (NASDAQ: TSLA) are volatile in Wednesday's after-hours session as investors digest the company's Q2 earnings release.

Tesla reported an adjusted net loss of ($1.06) per share, larger than consensus estimates, which called for a loss of ($0.52) per share. Revenues of $1.56 billion also came in short of expectations for $1.62 billion.

On the other hand, 14,402 deliveries beat estimates of 14,307 units. For the second half of the year, management reiterated its target for 50,000 deliveries.

Over the second quarter, the company completed the design phase of its Model 3 car, boosted vehicle production by an extra 18 percent quarter-over-quarter, “rolled out the biggest aesthetic and functional update to Model S since its initial launch, introduced an upgradeable 60 kWh Model S, increased automotive gross margin excluding ZEV credits, and completed a $1.7 billion equity raise to end the quarter with $3.25 billion in cash."

Shares of Tesla closed Wednesday's session down 0.62 percent at $225.91. The stock hit a high of $231 and low of $224 in the after-hours session.

Posted-In: Earnings News Guidance After-Hours Center Movers Best of Benzinga


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