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Tesla (TSLA) Misses Q2 Earnings and Revenue Estimates

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Tesla Motors (TSLA - Free Report) just released its second-quarter earnings results, posting earnings of -$1.54 per share and revenue of $1.27 billion.

Currently, TSLA has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.

Tesla Motors:

1. Missed earnings estimates. The company posted a loss of $1.54 per share (excluding 55 cents from non-recurring items), missing our Zacks Consensus Estimate of -$1.16.

2. Missed revenue estimates. The company saw revenue figures of $1.27 billion, falling short of our estimate of $1.516 billion.  

3. “Q2 was certainly busy. We completed the design phase of Model 3, increased vehicle production by another 18% sequentially, 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,” said CEO Elon Musk in the report.

4. Tesla delivered a total of 14,402 new vehicles, including 9,764 Model S and 4,638 Model X, which was slightly more than it had previously announced, but well below prior forecasts of 17,000 deliveries.

5. TSLA was up 1.02% to $228.10 as of 4:33 p.m. EST in after-hours trading shortly after its earnings report was released.

Here’s a graph that looks at Tesla’s latest earnings performance:

TESLA MOTORS Price, Consensus and EPS Surprise

TESLA MOTORS Price, Consensus and EPS Surprise | TESLA MOTORS Quote

Tesla Motors, Inc. designs, manufactures, and sells electric vehicles and electric vehicle powertrain components. The Company is headquartered in Palo Alto, California.

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