Tesla Beats Estimates, Reports 4th Straight Quarter of GAAP Profits-Live Blog
Tesla TSLA delivered a strong second quarter on Tuesday, beating analyst consensus estimates for revenues and earnings, maintaining its ambitious target of delivering 500,000 vehicles this year despite the disruptions of the coronavirus pandemic and reporting a fourth straight quarter of GAAAP profits, making it eligible for inclusion in the S&P 500.
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For the quarter, the EV maker posted revenue of $6.04 billion and GAAP EPS of $0.50, ahead of consensus estimates for revenue of $5.15 billion and EPS of negative $0.82.
Shares were rising 5.6% to $1,680.99 in after-hours trading on Wednesday after the release of the report.
TheStreet's tech columnist, Eric Jhonsa, is analyzing the company's earnings report, as well as the call with analysts that's scheduled to begin at 5:30 p.m. ET. Please join us!