(Updates from 12:05 p.m. ET with closing information.)
The electric car manufacturer's earned 5 cents during the quarter, on $405 million in revenue. Analysts polled by Thomson Reuters expected Tesla to lose 17 cents a share on $383.4 million in revenue. These results were driven by the delivery of 5,150 cars, beating the company's own expectation of 4,500. Weekly production rates increased from 400 to almost 500 vehicles.
In addition, the company expects to deliver over 5,000 cars in the third-quarter and remains on track to deliver a total of 21,000 by the end of the year."Our financial position and balance sheet have never been stronger," CEO Elon Musk said in a letter to shareholders.
Groupon (GRPN - Get Report) shares surged 26.49% to $11.03 Thursday after posting strong second-quarter earnings. Groupon's revenues rose 7% to $608.7 million from $568.3 million in the same quarter last year, beating analysts' expectation of $606.2 million. The company lost 1 cent per share, in the quarter, down from a 4 cent profit a year ago. Sales in North America, Groupon's core market, jumped 45% to $377.2 million, while sales in Europe, Asia, and the Middle East fell 24% to $159.96 million. The company also announced a $300 million share buyback plan over the next two years. In addition, Groupon announced its board had appointed interim CEO Eric Lefkofsky as its permanent CEO. 43-year-old Lefkofsky is a co-founder who has served as interim CEO since founder Andrew Mason was fired in February. He has also served as chairman and co-CEO with Ted Leonsis, who was also appointed chairman yesterday. "The Board is encouraged by Groupon's performance under Eric's leadership, and we're pleased that he has agreed to lead the company through this important stage of its evolution," Leonsis said in a statement.
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