Tesla Earnings and Revenue Beat in Q2
2022.07.20 23:26
Tesla Earnings, Revenue Beat in Q2
Investing.com – Tesla (NASDAQ:TSLA) reported second quarter earnings that beat analysts’ forecasts and revenue that topped expectations.
Tesla announced earnings per share of $2.27 on revenue of $16.93 billion. Analysts polled by Investing.com anticipated EPS of $1.86 on revenue of $16.52 billion.
Shares of Tesla rose 3% in after-hours trading.
Automotive gross margin was 27.9% in the quarter, down from 32.9% in the prior quarter and 28.4% one year ago. Deliveries are up 27% from a year ago but down 18% from the prior quarter owing to production interruptions because of Covid lockdowns.
Tesla shares are down 29% from the beginning of the year, still down 40.29% from its 52 week high of $1,243.49 set on November 4, 2021. They are under-performing the Nasdaq 100 which is down 23.78% from the start of the year.
Tesla follows other major Consumer Discretionary sector earnings this month
Tesla’s report follows an earnings beat by Nike on June 27, which reported EPS of 90 cents on revenue of $12.23 billion, compared to forecasts EPS of 80 cents on revenue of $12.06 billion.
Fast Retailing ADR had beat expectations on July 14 with second quarter EPS of 64 cents on revenue of $3.94 billion, compared to forecast for EPS of 29 cents on revenue of $3.95 billion.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar
